UBS sustainability score: 31/100

UBS reports Scope 1 and net Scope 2 emissions under GHG Protocol with ISO 14001/50001 certification and EY assurance (29 metrics at reasonable assurance level). 2024 report shows 35% reduction vs 2023; 2025 shows 48% cumulative reduction. Multi-year tracking with granular breakdowns demonstrated. Specific absolute tonnage figures lack full transparency.

UBS discloses financed emissions (Scope 3 Category 15) for select lending sectors using PCAF methodology: fossil fuels, power, steel, cement, Swiss real estate. Identified 95 GHG key vendors covering 50% of vendor emissions. Total Scope 3 not consolidated. Vast financed and facilitated emissions across wealth management and investment banking remain unquantified or incompletely mapped.

Achieved 35% Scope 1&2 reduction in 2024 vs 2023 baseline; 48% cumulatively by 2025. Positive operational trajectory. But UBS pushed back operational net-zero target by 10 years (2025 to 2035), withdrew AUM net-zero alignment, weakened Scope 3 language from explicit net-zero to vague 'addressing emissions'. Only 3.6% of AUM covered by net-zero ambition. Financed emissions trajectory unclear.

RE100 member. Achieved 99.8% renewable electricity aligned to RE100 technical criteria in 2024. Committed to 100% renewable electricity from qualifying sources by 2026. Absolute energy consumption reduced 10% vs 2023 baseline. Near-complete renewable procurement for owned operations places UBS among sector leaders.

Published Climate and Nature Report 2023 aligned with TNFD; TNFD member. Deforestation policies cover palm oil (RSPO), soy (RTRS). However, Greenpeace/Unearthed investigation found UBS-marketed green bonds linked to Brazilian deforesters and ranchers accused of slave labour, undermining policy credibility. Nature risk assessment advancing; quantified nature footprint absent.

Achieved 52.9% recycling ratio for office waste in 2024 against 60% target by 2025. Reached 49.9% recycled and FSC paper share. Active waste minimization for financial services firm. No evidence of broader circularity targets or supply chain material stewardship beyond paper and office waste.

Target to reduce water consumption 5% by 2025 vs 2019 baseline exceeded; achieved 8% reduction. As financial services company, direct water footprint limited to office and building use, not water-intensive. Monitoring and measurable reduction demonstrated. No watershed engagement or assessment of water impact in financed activities.

Self-set targets: 57% Scope 1&2 reduction by 2030, net zero by 2035 (90% real reductions, residuals via removals). Claims 1.5°C alignment. NOT SBTi validated. 10-year pushback of operational net-zero, withdrawal of AUM alignment target, weakened Scope 3 language, and removed ESG compensation linkage in 2024 report are concerning. No offsets for 2030 interim target is positive.

Publishes annual Sustainability Reports, Climate and Nature Report, SEC filings. EY assures 234 metrics (29 reasonable, 205 limited). Corporate Culture and Responsibility Committee oversees sustainability at board. CDP A-, S&P CSA 72. Shareholders hold advisory vote on Sustainability Report. No direct link between senior compensation and climate goals; ESG compensation section removed from 2024 report.

Greenpeace/Unearthed investigation linked UBS-marketed green bonds to deforesters and slave labour in Brazil (unresolved). InfluenceMap found UBS climate funds among most Paris-misaligned. Swiss Bankers Association (key member) prefers self-regulation over government climate rules. Nearly 20% of shareholders voted against 2023 Sustainability Report. UBS Asset Management received InfluenceMap 'A' engagement grade (partial offset).