WHATX/ESG_Report · Datasets at Hugging Face

text stringlengths 0 7.73k
– Ten digital principles embedded with ongoing assessment of application against them and approximately 70% tech investments moved from long lasting programs to products with regular delivery.
– 75,000 legacy technology components have been eliminated.
– Achieved our cloud strategy with 65% on cloud (60/40 split between public and private cloud respectively).
– DevCloud -> 1 main dev toolchain.
– Introduced BigPanda for more efficient issue identification and service recovery using AI.
– Expanded UBS Next to a firm-wide venture and innovation unit with four new investments during 2022.
– ADA: Defined a strategy to provide the capabilities and expertise needed to bring AI, Data and Analytics at UBS to the next level.
– Digital assets: Defined a strategy to develop digital asset solutions that ultimately will benefit our clients.
– Digital journey: Supporting the Business Divisions and Group Functions on their digital journey, developing modern and digital solutions which make an impact to our clients and business, to enable further growth.
– Innovation: Biggest Hackathon event ever with approximately 1,000 participants and Digital Week organized for all Business Divisions and Group Functions.
On track.
On track 1 Over the cycle.
150


Sustainability Report 2022 \| Appendix 5 \| Other 151.
Objectives 2023.
Sustainability and impact To implement our sustainability and impact strategy, we have defined firm-wide mid- and long-term goals. The following 2023 objectives are aligned to these mid- and long-term goals. › Refer to “Our aspirational goals and progress” in the “Strategy” section of this report for an overview of our goals.
Material GRI topics Objectives 2023.
GRI 302: Energy;
GRI 305: Emissions;
GRI 201: Economic Performance;
GRI 308: Supplier Environmental Assessment;
FS Product Portfolio;
FS Active Ownership;
FS Audit.
Net zero – Progress on UBS net-zero ambitions for scopes 1 and 2 and execute on plan for scope 3 emissions: – Target net scope 1 and 2 emissions of 12ktCO2eq.
– Maintain 100% renewable electricity according to RE100 commitment.
– Reduce energy consumption in UBS buildings from 2020 baseline by 15%.
– 60% of GHG key vendors report related carbon emissions and establish net-zero aligned targets.
– Asset Management: Launch new climate focused products across traditional and alternative asset classes.
– UBS Optimus Foundation’s share of the Environment & Climate portfolio contributing to climate mitigation and GHG emission reduction to reach 75%.
– Strengthen net-zero operating model for financing activities.
FS Product Portfolio;
GRI 405: Diversity and Equal Opportunity.
Philanthropy – Deliver UBS social impact strategy through reaching USD 1 billion in donations by 2025, and 25 million UBS Optimus Foundation beneficiaries. For year 2023; USD 525 million cumulated philanthropic donations since 2021.
– Support 1.5 million young people and adults to learn and develop skills through our community impact activities (2022–2025). For year 2023, 380,000 young people and adults supported to learn and develop skills.
GRI 405: Diversity and Equal Opportunity;
GRI 406: Non-Discrimination:
GRI 414: Supplier Social Assessment.
Inclusive growth – Progress on our DE&I ambition and inclusive growth plans.
– Continue progress towards the 2025 aspiration to increase the global female representation at Director level and above to 30%.
– Continue progress towards the 2025 aspirations to have a 26% ethnic minority representation at Director level and above in the US and in the UK, including a Black aspiration of 4% in the UK.
– Continue focus on our employee strategy with emphasis on building a culture of belonging, including leadership and line manager training.
– Continue to build our disability inclusive practices and support our physical and digital accessibility.
– 70% of spend in deals over USD 1 million are undertaken with vendors that have an adequately high ESG rating.
FS Product Portfolio; FS Active Ownership; FS Audit – Maintain leading sustainability disclosures and ESG ratings for transparency towards our investors and other stakeholders.
GRI 401: Employment; GRI 201: Economic Performance; FS Product Portfolio; FS Active Ownership.
Educate and engage – Drive employee engagement, education and deepen understanding of sustainability strategy and capabilities to address clients/stakeholder need.
151


Sustainability Report 2022 \| Appendix 5 \| Other 152.
Material GRI topics Objectives 2023.
FS Product Portfolio;
FS Active Ownership;
GRI 201: Economic Performance.
Sustainable products – Assist our financing clients with their transition to a low-carbon economy: – Underwrite 100 GSSS+ bonds.3 – Facilitate one public and one private equity raise with active climate contributions.
1 Only donations or investments, which can be linked to measurable impact and our Philanthropy team’s active involvement are considered. This includes donations raised by UBS Optimus Foundation, the UBS UK Donor-Advised Foundation, the UBS Philanthropy Foundation in Switzerland, investments to social finance products (such as a pioneering blended-finance initiative investing in SDG-aligned outcomes-based programs), and the UBS Global Visionaries. 2 Through UBS Optimus Foundation activities only. 3 Includes green, social, sustainability and sustainability-linked bonds.
152


Sustainability Report 2022 \| Appendix 5 \| Other 153.
Other GRI-relevant areas.
Material GRI topics Objectives 2023.
GRI 201: Economic Performance Financial targets – 15–18% return on CET1 capital (RoCET1) .
– 70–73% cost-income ratio.
– 10–15% profit before tax growth in Global Wealth Management.1.
GRI 205: Anti-corruption – Ongoing delivery of alignment opportunities between financial crime and ESG risk management frameworks.
GRI 401: Employment – Continuously empower our employees to drive our client promise, focus on our strategic imperatives and strengthen our culture with the firm’s purpose at the center of everything we do.
– Continue to be an employer of choice. Foster internal mobility and offer our employees opportunities to build long and satisfying careers at UBS. Develop employees and leaders to further build our diverse and inclusive culture with a relentless focus on collaboration.
– Motivate, inspire and empower our diverse workforce through effective people-management practices and continuous employee appreciation.
– Continue our agile transformation. Upskill employees in agile practices for teams to deliver value quickly and reliably in an aligned way of working.
GRI 404: Training and Education – Foster our systematic talent management approach to develop and retain people with the capabilities and commitment needed to power current and future success.
– Build a robust talent and future-leader pipeline for a purpose-driven organization.
– Emphasize future-skills development, including digital literacy and agile working practices.
– Support ongoing personal growth with emphasis on employee resilience and health and well-being for all employees.
– Sustain our high-performance culture with a performance management approach that is easy to understand, with specific goals, regular feedback, transparent reviews, and with a clear link to reward/recognition.
– Ensure that our leaders have the resources to live up to our purpose, embrace an agile mindset and the UBS culture, are empowered (and empower others) to create impact and growth in an age of agile and digital transformation.
Client experience Client needs – Ensure a personalized, relevant, timely and seamless processing of client requests by coaching, supporting and giving guidance to client servicing units.
– Develop and implement a BOT to provide Subject Matter Experts directly with relevant client feedback to be included into the development of products and processes according to client needs.
Commercial aspirations – Make progress toward our aspiration of more than USD 6 trillion invested assets across Global Wealth Management, Asset Management and Personal & Corporate Banking.
– More than 5% growth in net new fee-generating assets of Global Wealth Management.1.
GRI 417: Marketing and Labeling Suitability – Continue implementation of regulatory sustainability framework changes in jurisdictions where UBS operates.
– Further enhance control framework regarding ESG including “green washing” controls.
– Additional training and awareness on sustainable investing topics for UBS staff.
– Enhance product governance in relation to sustainable investing products and services.
GRI 206: Anti-competitive Behavior; GRI 418: Customer Privacy – Promote and maintain an effectively designed and operating conduct risk framework that supports a holistic and actionable assessment of the firm’s exposure to conduct risk.
GRI 207: Tax – Engage with external stakeholders on the topic of tax.
– Ensure sustainable compliance with international tax norms: full compliance of UBS’s applicable cross-border transfer pricing arrangements with the OECD standards.
153


Sustainability Report 2022 \| Appendix 5 \| Other 154.
Material GRI topics Objectives 2023.
Digitalization – Continue delivering on our technology strategy from an enabler to a differentiator and drive firm-wide innovation with UBS Next.
– Support the delivery of digital initiatives across all Business Divisions and Group Functions.
– Execute on the ADA Group-wide strategy by establishing a center of expertise that bring together capabilities, resources and knowledge to drive successful outcomes for the firm through data.
– Drive the Digital Assets strategy by (i) implementing the operating model and governance, and (ii) delivering on core strategic priorities and risk-controlled experiments.
1 Over the cycle.

– Ten digital principles embedded with ongoing assessment of application against them and approximately 70% tech investments moved from long lasting programs to products with regular delivery.

– 75,000 legacy technology components have been eliminated.

– Achieved our cloud strategy with 65% on cloud (60/40 split between public and private cloud respectively).

– DevCloud -> 1 main dev toolchain.

– Introduced BigPanda for more efficient issue identification and service recovery using AI.

– Expanded UBS Next to a firm-wide venture and innovation unit with four new investments during 2022.

– ADA: Defined a strategy to provide the capabilities and expertise needed to bring AI, Data and Analytics at UBS to the next level.

– Digital assets: Defined a strategy to develop digital asset solutions that ultimately will benefit our clients.

– Digital journey: Supporting the Business Divisions and Group Functions on their digital journey, developing modern and digital solutions which make an impact to our clients and business, to enable further growth.

– Innovation: Biggest Hackathon event ever with approximately 1,000 participants and Digital Week organized for all Business Divisions and Group Functions.

On track.

On track 1 Over the cycle.

150

Sustainability Report 2022 | Appendix 5 | Other 151.

Objectives 2023.

Sustainability and impact To implement our sustainability and impact strategy, we have defined firm-wide mid- and long-term goals. The following 2023 objectives are aligned to these mid- and long-term goals. › Refer to “Our aspirational goals and progress” in the “Strategy” section of this report for an overview of our goals.

Material GRI topics Objectives 2023.

GRI 302: Energy;

GRI 305: Emissions;

GRI 201: Economic Performance;

GRI 308: Supplier Environmental Assessment;

FS Product Portfolio;

FS Active Ownership;

FS Audit.

Net zero – Progress on UBS net-zero ambitions for scopes 1 and 2 and execute on plan for scope 3 emissions: – Target net scope 1 and 2 emissions of 12ktCO2eq.

– Maintain 100% renewable electricity according to RE100 commitment.

– Reduce energy consumption in UBS buildings from 2020 baseline by 15%.

– 60% of GHG key vendors report related carbon emissions and establish net-zero aligned targets.

– Asset Management: Launch new climate focused products across traditional and alternative asset classes.

– UBS Optimus Foundation’s share of the Environment & Climate portfolio contributing to climate mitigation and GHG emission reduction to reach 75%.

– Strengthen net-zero operating model for financing activities.

FS Product Portfolio;

GRI 405: Diversity and Equal Opportunity.

Philanthropy – Deliver UBS social impact strategy through reaching USD 1 billion in donations by 2025, and 25 million UBS Optimus Foundation beneficiaries. For year 2023; USD 525 million cumulated philanthropic donations since 2021.

– Support 1.5 million young people and adults to learn and develop skills through our community impact activities (2022–2025). For year 2023, 380,000 young people and adults supported to learn and develop skills.

GRI 405: Diversity and Equal Opportunity;

GRI 406: Non-Discrimination:

GRI 414: Supplier Social Assessment.

Inclusive growth – Progress on our DE&I ambition and inclusive growth plans.

– Continue progress towards the 2025 aspiration to increase the global female representation at Director level and above to 30%.

– Continue progress towards the 2025 aspirations to have a 26% ethnic minority representation at Director level and above in the US and in the UK, including a Black aspiration of 4% in the UK.

– Continue focus on our employee strategy with emphasis on building a culture of belonging, including leadership and line manager training.

– Continue to build our disability inclusive practices and support our physical and digital accessibility.

– 70% of spend in deals over USD 1 million are undertaken with vendors that have an adequately high ESG rating.

FS Product Portfolio; FS Active Ownership; FS Audit – Maintain leading sustainability disclosures and ESG ratings for transparency towards our investors and other stakeholders.

GRI 401: Employment; GRI 201: Economic Performance; FS Product Portfolio; FS Active Ownership.

Educate and engage – Drive employee engagement, education and deepen understanding of sustainability strategy and capabilities to address clients/stakeholder need.

151

Sustainability Report 2022 | Appendix 5 | Other 152.

Material GRI topics Objectives 2023.

FS Product Portfolio;

FS Active Ownership;

GRI 201: Economic Performance.

Sustainable products – Assist our financing clients with their transition to a low-carbon economy: – Underwrite 100 GSSS+ bonds.3 – Facilitate one public and one private equity raise with active climate contributions.

1 Only donations or investments, which can be linked to measurable impact and our Philanthropy team’s active involvement are considered. This includes donations raised by UBS Optimus Foundation, the UBS UK Donor-Advised Foundation, the UBS Philanthropy Foundation in Switzerland, investments to social finance products (such as a pioneering blended-finance initiative investing in SDG-aligned outcomes-based programs), and the UBS Global Visionaries. 2 Through UBS Optimus Foundation activities only. 3 Includes green, social, sustainability and sustainability-linked bonds.

152

Sustainability Report 2022 | Appendix 5 | Other 153.

Other GRI-relevant areas.

Material GRI topics Objectives 2023.

GRI 201: Economic Performance Financial targets – 15–18% return on CET1 capital (RoCET1) .

– 70–73% cost-income ratio.

– 10–15% profit before tax growth in Global Wealth Management.1.

GRI 205: Anti-corruption – Ongoing delivery of alignment opportunities between financial crime and ESG risk management frameworks.

GRI 401: Employment – Continuously empower our employees to drive our client promise, focus on our strategic imperatives and strengthen our culture with the firm’s purpose at the center of everything we do.

– Continue to be an employer of choice. Foster internal mobility and offer our employees opportunities to build long and satisfying careers at UBS. Develop employees and leaders to further build our diverse and inclusive culture with a relentless focus on collaboration.

– Motivate, inspire and empower our diverse workforce through effective people-management practices and continuous employee appreciation.

– Continue our agile transformation. Upskill employees in agile practices for teams to deliver value quickly and reliably in an aligned way of working.

GRI 404: Training and Education – Foster our systematic talent management approach to develop and retain people with the capabilities and commitment needed to power current and future success.

– Build a robust talent and future-leader pipeline for a purpose-driven organization.

– Emphasize future-skills development, including digital literacy and agile working practices.

– Support ongoing personal growth with emphasis on employee resilience and health and well-being for all employees.

– Sustain our high-performance culture with a performance management approach that is easy to understand, with specific goals, regular feedback, transparent reviews, and with a clear link to reward/recognition.

– Ensure that our leaders have the resources to live up to our purpose, embrace an agile mindset and the UBS culture, are empowered (and empower others) to create impact and growth in an age of agile and digital transformation.

Client experience Client needs – Ensure a personalized, relevant, timely and seamless processing of client requests by coaching, supporting and giving guidance to client servicing units.

– Develop and implement a BOT to provide Subject Matter Experts directly with relevant client feedback to be included into the development of products and processes according to client needs.

Commercial aspirations – Make progress toward our aspiration of more than USD 6 trillion invested assets across Global Wealth Management, Asset Management and Personal & Corporate Banking.

– More than 5% growth in net new fee-generating assets of Global Wealth Management.1.

GRI 417: Marketing and Labeling Suitability – Continue implementation of regulatory sustainability framework changes in jurisdictions where UBS operates.

– Further enhance control framework regarding ESG including “green washing” controls.

– Additional training and awareness on sustainable investing topics for UBS staff.

– Enhance product governance in relation to sustainable investing products and services.

GRI 206: Anti-competitive Behavior; GRI 418: Customer Privacy – Promote and maintain an effectively designed and operating conduct risk framework that supports a holistic and actionable assessment of the firm’s exposure to conduct risk.

GRI 207: Tax – Engage with external stakeholders on the topic of tax.

– Ensure sustainable compliance with international tax norms: full compliance of UBS’s applicable cross-border transfer pricing arrangements with the OECD standards.

153

Sustainability Report 2022 | Appendix 5 | Other 154.

Material GRI topics Objectives 2023.

Digitalization – Continue delivering on our technology strategy from an enabler to a differentiator and drive firm-wide innovation with UBS Next.

– Support the delivery of digital initiatives across all Business Divisions and Group Functions.

– Execute on the ADA Group-wide strategy by establishing a center of expertise that bring together capabilities, resources and knowledge to drive successful outcomes for the firm through data.

– Drive the Digital Assets strategy by (i) implementing the operating model and governance, and (ii) delivering on core strategic priorities and risk-controlled experiments.

1 Over the cycle.