Union Bancaire Privee

The financial institution designates specific functions, teams, or committees to implement its sustainability strategy and actively tracks its Scope 1 and Scope 2 emissions.

Union Bancaire Privee has a publicly available statement on ILO fundamental rights at work, but lacks a formal policy approved by its highest governance body. It has a policy requiring suppliers to respect fundamental rights, yet does not commit to all four ILO rights. A supplier policy document prohibits bribery and corruption, but it is unclear if supplier relationships will be reviewed or terminated for breaches. Recommendations include disclosing third-party assurance for target reporting, linking senior executive remuneration to sustainability targets, and clarifying the engagement strategy’s relation to all financing activities. The entity lists some trade associations but not comprehensively. The assessed entity is heavily involved in coal and unconventional oil and gas, with no evidence of disclosing products or services linked to high-emitting sectors. There are no time-bound targets for climate solutions, and while a Biodiversity and Restoration fund exists, there is no evidence of capital for nature-positive solutions. The entity discloses financed carbon emissions for its asset management and wealth management divisions, but it is unclear if all financed emissions are reported. Recommendations also include establishing a transition plan, reducing scope 1-3 emissions in line with interim targets, and detailing processes to avoid divestment from low-income countries. Additionally, it should assess risks related to ILO rights and provide examples of actions taken on salient human rights issues from recent assessments.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.