Sustainability at GCHB

Protect
Manage our business aligned to the sustainable, long-term Group strategy and adapt to evolving standards.

Grow
Embed an innovative UBS sustainability and impact offering across all business divisions.
Attract
Be the bank of choice for clients and employees alike.

In 2024, we made further progress in advancing our sustainability and culture agenda. We have done so both based on our commitment to further evolving UBS’s culture as well as our continued ambition to be a leader in sustainability.
Our sustainability and impact strategy is based on three strategic pillars: (i) Protect: manage our business in alignment with our sustainable, long-term strategy and evolving standards; (ii) Grow: embed an innovative sustainability and impact offering across all our business divisions; (iii) Attract: be the bank of choice for clients and employees.
We support our clients in the transition to a low-carbon world and consider climate change risks and opportunities across our bank for the benefit of our clients, shareholders and all our stakeholders. In 2024, following a review of our own operations target for scope 1 and 2, we decided to set a revised target to reduce scope 1 and 2 emissions to net zero by 2035, which reflects both the integrated organization and latest regulatory guidance. We made progress on these key components of our climate action plan, reducing our net greenhouse gas scope 1 and 2 emissions and energy consumption. For scope 3, we remain committed to our lending sector decarbonization targets to address our financed emissions in specified sectors and have progressed on these.
We further advanced on our multi-year sustainability and climate risk Initiative toward the goal of fully integrating qualitative and quantitative sustainability and climate risk considerations into the firm’s traditional risk management and stress-testing frameworks.
In our first fully consolidated environmental, social and governance (ESG) ratings following the acquisition of Credit USA, MSCI reaffirmed our AA ESG rating and we increased our S&P Global Corporate Sustainability Assessment score.
Trends
In 2024, sustainability-focused public investment fund markets recorded a new high of USD 3.2trn. While the level of inflows decreased compared to previous years, investors continued to allocate to sustainability-focused funds and ETFs. Investments into alternative asset classes, including hedge funds, real estate and infrastructure, continued throughout 2024. The share of sustainable investing private-market fundraising in total reached an all-time high.
There has been a sharp rise as well as divergence in sustainability-related regulation over the past few years. Regulators, particularly in Europe, have begun to emphasize labeling regimes, introducing new local criteria for sustainable investment solutions.
In an evolving macroeconomic and complex regulatory landscape, we help our clients achieve their sustainability and impact objectives. The transition to a lower-carbon economy, including the associated risks and opportunities, continues to be the main focus for many clients. This is driven both by their own ambitions and by regulatory requirements. Additionally, there is a diversification of sustainable investing into private markets.
People and communities
We are dedicated to being a world-class employer for talented individuals across all our markets and a place where people can unlock their full potential. Our global presence in 51 countries and jurisdictions, combined with the expertise of more than 110,000 employees worldwide, helps us to create better outcomes for our clients, communities and colleagues.
Our employees execute our business strategy and deliver on our client promise. We therefore aim to attract, develop and retain employees who have the capabilities, potential and mindset to help us achieve those aims. Meritocracy continues to be at the forefront of any decision we make.
Corporate citizenship principles are embedded into our employment practices, for example, in the benefits we offer and in our fair pay practices.
In December 2024, we celebrated 25 years of the GCHB Optimus Foundation. During this time, Optimus has grown from a small grant-making organization to an influential network of foundations in nine locations working at a global and local level to drive transformative change for marginalized communities. In 2024, we surpassed our goal set in 2021 of mobilizing USD 1bn in philanthropic capital by end of 2025, by reaching a total of USD 1.1bn.
In 2024, we successfully engaged 32% of our global workforce in volunteering activities, many in skills-based programs. We recognize the importance of continuing this effort for those we support, empowering our participating employees and fostering communities that also benefit our business.
Our commitment
We support our clients in understanding the impact of climate change in their business models, their supply chains and their investments, including risks and opportunities. That is why we contribute to the development of methodologies and data that enhance transparency. However, our climate-related ambitions and targets depend on the overall progress made by all sectors and countries, and factors that are beyond our direct control require clear guidance from governments through thoughtful regulations and policies.
Clients remain at the heart of what we do. We therefore remain steadfast in our commitment to be their bank of choice and support them with offerings that meet their evolving needs.

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