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Sustainability Report 2022 | Social 71. |
Outcomes financing – We established collaborations with OutcomesX and Common Good Marketplace to scale outcomes-based financing for the Ukraine Relief Fund and the Human Family Fund, respectively, and help create a market for social impact. |
– We concluded the Quality Education India (QEI) Development Impact Bond, where outcomes financing achieved strong learning results in mathematics and language for over 200,000 children across four states in India – children in QEI schools learned two and a half times more than those in non-participating schools. |
– We established a partnership with Leapfrog to Value to test models for insurance schemes to pay for healthcare outcomes for mothers and newborns. |
Donor-advised funds These funds offer clients an easy, flexible and efficient alternative to setting up their own foundation and can be managed in line with their usual investment approach. Their charitable donations can be invested within the parameters they select, such as capital, growth or income, so they can grow ... |
UBS Global Visionaries To further grow our environmental and social impact, we see an opportunity to connect people, to bridge the gap between incubation, acceleration and impact investments, supported by a strong ecosystem and partnership approach. One way we are doing this is through our UBS Global Visionaries progra... |
A third-party impact evaluation conducted in 2022 found that 88% of UBS Global Visionaries and alumni said the program had a positive influence on expanding their networks, with 68% creating partnerships from it, 64% agreed that we increased awareness of critical global issues and their solutions, 51% mentioned that th... |
Community Impact. |
Our Community Impact program aims to maximize our impact in local communities. |
We have a strategic focus on education and the development of skills as we believe these are topics where our resources can make the most impact. We believe our long-term investment in these areas are central to furthering the economic and social inclusion of those we support through our activities. |
With our Community Impact program, we focus on supporting young people and adults to learn and develop skills that will further their economic and social inclusion through strategic financial support and employee volunteering. In 2022, we reached 370,916 young people and adults in line with our strategy, with the aim o... |
Employee volunteering Our well-established employee volunteering model has been adapted to meet the needs of our new hybrid ways of working, with both face-to-face and virtual opportunities to support our local communities. We set global targets for employee engagement through volunteering, which are built bottom-up an... |
2 Figures provided for the Optimus Foundation network and donor-advised funds are based on unaudited management accounts and information available as of January 2023. Audited financial statements for Optimus and donor-advised foundation entities are produced and available per local market regulatory guideline. 33 Evalu... |
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Sustainability Report 2022 | Social 72. |
Measuring impact We carry out detailed monitoring of individual programs and use a global framework based on the industry-leading Business Investment for Societal Impact framework (B4SI), to measure the depth and breadth of the social impact of our grants and volunteering support. In 2022, 79% of UBS’s community impact... |
Measuring Impact 31.12.22 31.12.21 31.12.20. |
CConnect: # of individuals reached by an activity who can report limited changes as a result of an activity 290,198 593,072 449,321. |
IImprove: # of individuals who report substantive improvement in their lives as a result of the activity 74,594 82,203 67,482 TTransform: # of individuals who report a long-term change in their circumstances, or for whom a change can be observed as a result of the improvements made 6,124 3,568 2,654. |
UBS’s charitable contributions Direct cash contributions from the firm, including support through our community impact program, UBS’s affiliated foundations in Switzerland and the UBS Foundation of Economics in Society at the University of Zurich, as well as contributions to UBS Optimus Foundation network, amounted to ... |
Sustainability Report 2022 | Social 73. |
Respecting human rights. |
We are committed to respecting and promoting human rights, as set out in the UN Guiding Principles on Business and Human Rights. As human rights standards are embedded in the SDGs, respecting human rights is a key consideration in our business practices. When assessing UBS’s potential human rights impacts, we focus on ... |
Employees: We are committed to respecting human rights standards through our human resources policies and practices. We review these policies and practices on a regular basis, with the goal of ensuring that human rights and labor rights continue to be respected. We are committed to meeting the obligations that a respon... |
Clients: We provide them with innovative investment solutions in themes related to human rights, such as health, education, gender and/or equality, in addition to taking human rights risks into account in solutions that address a broader range of sustainability issues. We identify and manage actual and potential advers... |
Vendors: We are committed to reducing the negative social effects of the goods and services UBS purchases. To do so we identify high-risk vendors when establishing new contracts or renewals, based on the vendors’ provision of goods and services that have either a substantial social impact or are sourced in markets with... |
Our human-rights-related commitments and actions are set out in our Human Rights Statement. The statement shows the structures (governance and policies) and mechanisms (procedures and processes) UBS has in place to support its commitment. UBS also publishes a Modern Slavery and Human Trafficking Statement pursuant to t... |
Sustainability Report 2022 | Social 74. |
Managing our supply chain responsibly. |
We embed environmental, social and governance (ESG) standards into our sourcing and procurement activities. Our firm-wide Responsible Supply Chain Management (RSCM) framework is based on identifying, assessing and monitoring vendor practices in the areas of human and labor rights, the environment, health and safety and... |
In 2022, we revised our RSCS and raised the bar for ourselves and our suppliers. |
› Refer to our RSCS, available at ubs.com/suppliers. |
Identifying, assessing and monitoring high-impact vendors. |
We identify high-impact vendors when establishing new contracts or renewals based on the vendors’ provision of goods and services that could have either a substantial environmental and social impact or are sourced in markets with potentially high social or governance risks. Such high-impact vendors are assessed against... |
If our assessment reveals any non-compliance with our standards, UBS defines and agrees, together with the vendor, specific improvement measures and we closely monitor implementation progress of these remediation actions. Lack of improvement may lead to the termination of the vendor relationship. Vendors are reassessed... |
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Sustainability Report 2022 | Social 75. |
In 2022, no UBS vendor relationship was terminated as a result of RSCM assessments. This results partly from the fact that we assess each vendor’s potential risks before entering into a contract with them. |
Embedding supplier sustainability in our everyday activities. |
The goods and services we buy, how we buy them and from where and whom are all crucial elements of our sustainability impact. We are committed to making a positive environmental and social impact, and we expect the same from our suppliers. We have included weighting for ESG criteria in our tenders, as part of vendor ev... |
We have also been reviewing our purchasing catalogues to move to sustainable products wherever possible. This year, each item in our internal office supplies catalogues has been reviewed for its impact on the environment, including, but not limited to, the composition and recyclability of the product’s materials. We ha... |
Our UBS Supplier Code of Conduct details ethical and professional standards that our suppliers must follow when conducting business and engaging with us. We expect our suppliers to uphold high standards of ethics, carefully mitigate risks, and honor global and local labor laws, human rights and environmental responsibi... |
Responsible supply chain standards: 2022 assessments of vendors that provide UBS with goods and services with potentially high ESG impact. |
Assessment against UBS responsible supply chain standards. |
High-impact newly sourced contracts / renewals 124 vendors assessed + |
22. |
High-impact ongoing contracts vendors reassessed of vendors assessed considered as in need of improving their management practices 42% 3. |
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Sustainability Report 2022 | Social 76. |
Inclusive growth. |
Over the years at UBS, we have worked hard to show that both return-seeking and philanthropic capital can make tangible differences to issues such as education and health, decarbonization and nature. We believe that imaginative, transformative financial solutions are needed to build successful, inclusive and sustainabl... |
Strengthening our people pillar. |
The Organisation for Economic Co-operation and Development (the OECD) defines inclusive growth as “economic growth that is distributed fairly across society and creates opportunities for all.” This covers many dimensions, including financial inclusion, health, education, diversity, equity and inclusion (DE&I), employme... |
Tackling societal challenges requires inclusion, economic growth and sustainability. Each factor is interlinked and should not be viewed as a trade-off.1 Increasing regulation, stakeholder scrutiny and the clear benefits of DE&I mean it is important for businesses to consider the part that they can play in creating a m... |
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