The Pictet Group is an investment group, offering wealth management, asset management and related services. The Pictet Group comprises four business units: asset management, wealth management, alternative advisors and asset services. It is constituted as a corporate partnership, which is the managing entity of the Group. Other than the head office in Geneva, Pictet has 29 offices in 19 countries around the world. As of 2021, Pictet Group had 5040 employees and CHF 698 billion in assets under management.
In terms of its approach towards impact management, Pictet Group acknowledges that its financing activities have both positive and negative impacts. Pictet Group’s wealth and asset management arms disclose their approach to engagement with their investees. The engagement process includes a clear framework with success criteria and escalation points in the event that engagement with investees is unsuccessful. Furthermore, the financial institution publishes case studies describing where it has engaged successfully or unseuccesfully with clients on sustainability themes and impact topics.
As a member of the Glasgow Financial Alliance for Net Zero, Pictet Group has set a target of net-zero financed emissions by 2050. As a member of Climate Action 100+, the financial institution discloses that it collectively engages with its clients on the topic of climate change. Pictet Group discloses nature- and biodiversity-related impacts as one of its engagement topics/priorities with companies to which it provides financial services. Furtmermore, the financial institution provides evidence that it collectively engages with companies to which it provides financial services on the topic of their nature- and biodiversity-related impacts.
In terms of its approach to senior leadership accountability, there is no evidence that Pictet Group links the remuneration of its executive or management teams to sustainability performance criteria. No evidence was found that the financial institution is committed to gender equality and women’s empowerment. It has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps.
Pictet Group could disclose interim emissions reduction targets at the group level, such as a 45% reduction in financed emissions by 2030. The financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. There is no evidence that Pictet Group discloses its financing activities devoted to climate solutions. There is no evidence that the financial institution is committed to minimising the negative impacts it has on nature and biodiversity.
There is no evidence that the financial institution has a publicly available policy statement committing it to respect human rights laid out in the UNGPs and the ILO declaration on fundamental rights at work. The financial institution has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. The financial institution has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender or another indicator of diversity. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.
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Net income: CHF 3.25 billion; AUM: CHF 698 billion