WHATX/ESG_Report · Datasets at Hugging Face

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– Increased to 23.0% (2021: 21.3%) ethnic minority representation at Director level and above in the UK.
– Implemented regional line manager training on inclusive leadership and building belonging.
– Implemented initiatives to build on our disability inclusive practices and support physical and digital accessibility in our workplaces.
– Formalized the Group DE&I strategy to include four key stakeholder groups: Employees, Clients, Community & Society and Suppliers with supporting initiatives.
– Implemented supporting initiatives that: – Resulted in increased female hiring ratios at Director level and above, while the ratio of female hires across all ranks remained strong. For ethnic minority hiring, ratios at Director level and above decreased slightly in the UK but increased in the US, while across all ranks hiring ratios remained strong in both regions.
– Delivered tailored development programs for female and ethnically diverse future leaders (in UK/US).
– Increased promotion ratios this year globally for female employees and for ethnically diverse employees in the UK and US.
– More information on supporting initiatives will be found in our global DE&I report due to be published in Q2 2023.
Client philanthropy – Achieved UBS Optimus Foundation donation volume of USD 274 million in 2022 (including UBS matching contributions).
– Reached 5.9 million beneficiaries through UBS Optimus Foundation’s activities.
Community impact – Engaged 34% of our global workforce in volunteering, and 45% of the 177,000 volunteering hours were skills-based.
– Reached 370,916 beneficiaries through strategic community impact activities.
On track.
Partially achieved.
FS Product Portfolio;
FS Active Ownership.
GRI 308: Supplier Environmental Assessment;
GRI 414: Supplier Social Assessment.
Partnerships.
Membership / commitments – Complete the implementation of the Principles for Responsible Banking (PRB).
– Contribute to industry standards of impact measurement and monetization in partnership with Banking for Impact (BFI).
– Contribute to the development of industry standards for biodiversity measuring and reporting in partnership with the Taskforce on Nature-related Financial Disclosures (the TNFD).
Sustainable supply chain – 30% of GHG key vendors report related carbon emissions and establish net-zero-aligned targets.
Partnerships.
Membership / commitments – Continued implementation of PRB.
– Contributed to the work of BFI and exploring other impact measurement partnerships.
– Contributed to the formulation of the first set of TNFD recommendations and chaired the financial-sector-specific working group of the TNFD.
Sustainable supply chain – 66% of engaged “GHG key vendors” completed their climate disclosures in the CDP platform.
On track 1 GSSS: green, social, sustainability, or sustainability-linked. 2 Reporting period 2022 (1 July 2021–30 June 2022). 3 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. 4 Through UBS Optimus Foundation activities only.
147


Sustainability Report 2022 \| Appendix 5 \| Other 148.
Other GRI-relevant areas.
Material GRI topics.
Objectives 2022 Achievements 2022 Status.
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 Management1 – RoCET1: 17.0%.
– Cost-income ratio: 72.1%.
– Profit before tax growth (year-on-year) in Global Wealth Management: 4.1%.
Achieved.
GRI 205: Anticorruption Review the Anti-Bribery and Corruption (ABC) framework to ensure that controls to mitigate high corruption risks in client business and transactions are aligned to ABC Industry standards. – Implemented recommendations / findings covering controls to mitigate corruption risk across principal investments, fund acquisitions, joint ventures and deal-related activity. Achieved.
GRI 401: Employment – Continue to build engagement and strengthen our sustainable corporate culture.
– Deliver culture-building programs across the organization to further strengthen the firm’s identity and support the realization of our purpose.
– Motivate, inspire and empower our workforce through effective people-management practices and continuous employee appreciation.
– Further build our year-round, transparent feedback culture and foster, assess, recognize and reward employees’ impact.
– Continue implementation of our Agile@UBS approach to transform the way we work, promote innovation and simplification, and increase our speed in finding solutions for our clients.
– Remain an employer of choice to attract top external talent and retain employees at all career stages.
– Continue to foster internal mobility and provide long-term career prospects.
– Our purpose guides us in what we do and articulates why it matters. Our 2022 all-employee survey assessed that 92% of our employees are familiar with our purpose and 73% believe we are living up to our purpose. In 2022, we focused on living up to our purpose and further strengthened our culture with a number of Group-wide, divisional and regional initiatives.
– While our Group Franchise Awards (GFA) program recognizes and rewards employees for sharing innovation or simplification ideas, as well as for cross-divisional collaboration, our global peer-to-peer appreciation program (Kudos) is an easy way for employees to acknowledge colleagues’ exemplary behavior while fostering both employee growth and higher employee satisfaction. In 2022, employees gave 424,000 recognitions and 20% more GFA ideas were submitted, indicating a higher innovative mindset of our employees.
– We further sharpened objective-setting in 2022 and added Objectives and Key Results concepts. A newly integrated feedback app enabled employees to easily give and receive meaningful feedback “in the moment.” More than 180,000 instances of feedback were provided in 2022, supporting continuous improvement and ultimately, better outcomes. 100% of eligible employees received a performance review for 2022.
– We accelerated our agile transformation. Pods of specialists with end-to-end responsibility can achieve better results, more quickly, and we’re convinced that this will create better outcomes for clients and improve employees’ work experience. As of year-end 2022, approximately 18,500 employees across the firm were working in agile teams. The adoption of one consistent model has been key to our transition, supported by a knowledge-sharing community and specialized training delivered through the Agile Academy within our UBS University.
– Our 2022 employee survey assessed engagement, culture and career opportunities. Results showed that 67% of employees were satisfied with our talent management practices and 80% recognized our positive work environment. Both scores were above the financial services norm. We want to continue to be an employer of choice in financial services and to maintain a positive employee net promoter score.
– Internal mobility remains a key aspect of our talent management approach. In 2022, around 37% of all our open roles were filled by internal candidates, with 1,704 employees moving to roles in a different business division and 570 changing regions. Moreover, 76% of the positions at one level below the GEB were filled with internal candidates.
Achieved 148


Sustainability Report 2022 \| Appendix 5 \| Other 149.
Material GRI topics.
Objectives 2022 Achievements 2022 Status.
GRI 404: Training and Education Effectively develop, manage and retain our talent to ensure long-term sustainable performance: – Emphasize future-skills development, including digital literacy and agile working practices.
– Support employee resilience and high sustainable performance through continuing emphasis on health and well-being, and personal growth for all employees.
– Ensure that our leaders have the skills they need to grow their businesses and develop their people in an age of agile and digital transformation.
– We invested more than USD 78 million in training in 2022, focusing on building skills for use now and in the future. We introduced foundational training on sustainability and sustainable finance in 2022; we also added new modules on agile working, data literacy, regulatory requirements, diversity and inclusion, wellbeing and other topics. A new learning experience platform offers AI-powered training recommendations based on an employee’s unique needs and interests. In 2022, our full-time employees completed more than 1,327,000 learning activities, an average of two training days per employee.
– We care about our employees and want to support them. We also know that healthy people who are comfortable being themselves at work perform better, leading to more impactful outcomes. We therefore support flexible working arrangements and promote employee health and well-being.
– We further expanded our employee health and well-being offering in 2022. A suite of programs, benefits and workplace resources, along with a bespoke eLearning curriculum, helped our employees manage their health, reduce stress and prevent burnout. Employees participated in virtual fitness challenges, mental health initiatives, volunteering activities and financial education events, and everyone had access to a specialized mindfulness app. Regular “pulse” surveys and a health and well-being dashboard helped us identify and respond to trends in a timely way.
– We emphasize the importance of inclusive leadership skills, ensuring equity in our policies and practices, and increasing the representation of women and ethnic minority employees. We consider recruitment, development and belonging perspectives. For instance, we support flexible working options that benefit current employees and help us attract a more diverse pool of applicants, and executive candidates are screened for inclusive leadership competencies.
Achieved.
Client experience Client needs – Enhance reporting framework for client feedback and client complaints: design and implementation of improved, simplified and structured reports.
– Adopt agile methodology to simplify or improve existing internal processes / procedures and tasks within the Quality Feedback Team and for our stakeholders.
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.
Client needs – Implementation of new design. First edition dispatched for Q4/2022.
– Widened scope of BOT usage to simplify and foster effectiveness of execution of control task with Quality Feedback.
Commercial aspirations – Invested assets reached USD 3,957 billion, down compared to 2021 due to negative market performance, partly offset by net new money.
– Growth in net new fee-generating assets was 4.1% as clients remained on the sidelines in a fast-changing environment.
Achieved.
Partly achieved.
GRI 417: Marketing and Labeling Suitability – Successful enhancement of the advisory and sales process to capture and consider ESG preferences for the selected locations and market segments (European locations and Germany-domiciled clients in Switzerland) including a robust control framework as and when ESG requirements are implemented in each location.
– Design the process change requirements for the remaining market and client segments in Switzerland for rollout in 2023 onwards.
Suitability – Tactical rollout of the new enhanced MIFID standards in European locations and selected clients in Switzerland (i.e., Germany-domiciled clients) successfully took place in August 2022.
– Business requirements for the strategic process changes have been defined also under consideration of the new applicable European Securities and Markets Authority (ESMA) guidance (on certain suitability aspects).
On track 149


Sustainability Report 2022 \| Appendix 5 \| Other 150.
Material GRI topics.
Objectives 2022 Achievements 2022 Status.
GRI 206: Anticompetitive 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. – The Group Conduct Risk Management Policy was updated to clarify the importance of the business having in place appropriate governance and oversight of the three components of conduct risk: employee-, market- and client-related conduct. The UBS Conduct Risk Framework was updated to reflect governance simplification across the firm.
Achieved.
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 crossborder transfer pricing arrangements with the Organisation for Economic Co-operation and Development (OECD) standards.
– Regular engagement with key external stakeholders, including tax authorities globally.
– UBS’s transfer pricing comports with OECD standards wherever OECD standards are relevant. UBS will implement processes to fully comply with OECD Pillar 2 rules once they enter into force in Switzerland in 2024, and earlier for early adopting countries.
Achieved.
Digitalization – Deliver on Leveling up Tech to transform technology from an enabler to a differentiator and drive the implementation of firm-wide innovation approach, guided, supported and coordinated by UBS Next.
– Enable digital initiatives across and execute on the Group-wide ADA strategy by establishing appropriate governance and expertise to drive successful outcomes for our clients and the firm through data.
– Continued execution of the Leveling Up strategy: – Approximately 18,500 people transitioned to Agile@UBS and DORA metrics implementation to measure teams’ efficiency.
– Engineering ratio up to 68% with defined learning journeys for upskilling and hiring strategy.

– Increased to 23.0% (2021: 21.3%) ethnic minority representation at Director level and above in the UK.

– Implemented regional line manager training on inclusive leadership and building belonging.

– Implemented initiatives to build on our disability inclusive practices and support physical and digital accessibility in our workplaces.

– Formalized the Group DE&I strategy to include four key stakeholder groups: Employees, Clients, Community & Society and Suppliers with supporting initiatives.

– Implemented supporting initiatives that: – Resulted in increased female hiring ratios at Director level and above, while the ratio of female hires across all ranks remained strong. For ethnic minority hiring, ratios at Director level and above decreased slightly in the UK but increased in the US, while across all ranks hiring ratios remained strong in both regions.

– Delivered tailored development programs for female and ethnically diverse future leaders (in UK/US).

– Increased promotion ratios this year globally for female employees and for ethnically diverse employees in the UK and US.

– More information on supporting initiatives will be found in our global DE&I report due to be published in Q2 2023.

Client philanthropy – Achieved UBS Optimus Foundation donation volume of USD 274 million in 2022 (including UBS matching contributions).

– Reached 5.9 million beneficiaries through UBS Optimus Foundation’s activities.

Community impact – Engaged 34% of our global workforce in volunteering, and 45% of the 177,000 volunteering hours were skills-based.

– Reached 370,916 beneficiaries through strategic community impact activities.

On track.

Partially achieved.

FS Product Portfolio;

FS Active Ownership.

GRI 308: Supplier Environmental Assessment;

GRI 414: Supplier Social Assessment.

Partnerships.

Membership / commitments – Complete the implementation of the Principles for Responsible Banking (PRB).

– Contribute to industry standards of impact measurement and monetization in partnership with Banking for Impact (BFI).

– Contribute to the development of industry standards for biodiversity measuring and reporting in partnership with the Taskforce on Nature-related Financial Disclosures (the TNFD).

Sustainable supply chain – 30% of GHG key vendors report related carbon emissions and establish net-zero-aligned targets.

Partnerships.

Membership / commitments – Continued implementation of PRB.

– Contributed to the work of BFI and exploring other impact measurement partnerships.

– Contributed to the formulation of the first set of TNFD recommendations and chaired the financial-sector-specific working group of the TNFD.

Sustainable supply chain – 66% of engaged “GHG key vendors” completed their climate disclosures in the CDP platform.

On track 1 GSSS: green, social, sustainability, or sustainability-linked. 2 Reporting period 2022 (1 July 2021–30 June 2022). 3 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. 4 Through UBS Optimus Foundation activities only.

147

Sustainability Report 2022 | Appendix 5 | Other 148.

Other GRI-relevant areas.

Material GRI topics.

Objectives 2022 Achievements 2022 Status.

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 Management1 – RoCET1: 17.0%.

– Cost-income ratio: 72.1%.

– Profit before tax growth (year-on-year) in Global Wealth Management: 4.1%.

Achieved.

GRI 205: Anticorruption Review the Anti-Bribery and Corruption (ABC) framework to ensure that controls to mitigate high corruption risks in client business and transactions are aligned to ABC Industry standards. – Implemented recommendations / findings covering controls to mitigate corruption risk across principal investments, fund acquisitions, joint ventures and deal-related activity. Achieved.

GRI 401: Employment – Continue to build engagement and strengthen our sustainable corporate culture.

– Deliver culture-building programs across the organization to further strengthen the firm’s identity and support the realization of our purpose.

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

– Further build our year-round, transparent feedback culture and foster, assess, recognize and reward employees’ impact.

– Continue implementation of our Agile@UBS approach to transform the way we work, promote innovation and simplification, and increase our speed in finding solutions for our clients.

– Remain an employer of choice to attract top external talent and retain employees at all career stages.

– Continue to foster internal mobility and provide long-term career prospects.

– Our purpose guides us in what we do and articulates why it matters. Our 2022 all-employee survey assessed that 92% of our employees are familiar with our purpose and 73% believe we are living up to our purpose. In 2022, we focused on living up to our purpose and further strengthened our culture with a number of Group-wide, divisional and regional initiatives.

– While our Group Franchise Awards (GFA) program recognizes and rewards employees for sharing innovation or simplification ideas, as well as for cross-divisional collaboration, our global peer-to-peer appreciation program (Kudos) is an easy way for employees to acknowledge colleagues’ exemplary behavior while fostering both employee growth and higher employee satisfaction. In 2022, employees gave 424,000 recognitions and 20% more GFA ideas were submitted, indicating a higher innovative mindset of our employees.

– We further sharpened objective-setting in 2022 and added Objectives and Key Results concepts. A newly integrated feedback app enabled employees to easily give and receive meaningful feedback “in the moment.” More than 180,000 instances of feedback were provided in 2022, supporting continuous improvement and ultimately, better outcomes. 100% of eligible employees received a performance review for 2022.

– We accelerated our agile transformation. Pods of specialists with end-to-end responsibility can achieve better results, more quickly, and we’re convinced that this will create better outcomes for clients and improve employees’ work experience. As of year-end 2022, approximately 18,500 employees across the firm were working in agile teams. The adoption of one consistent model has been key to our transition, supported by a knowledge-sharing community and specialized training delivered through the Agile Academy within our UBS University.

– Our 2022 employee survey assessed engagement, culture and career opportunities. Results showed that 67% of employees were satisfied with our talent management practices and 80% recognized our positive work environment. Both scores were above the financial services norm. We want to continue to be an employer of choice in financial services and to maintain a positive employee net promoter score.

– Internal mobility remains a key aspect of our talent management approach. In 2022, around 37% of all our open roles were filled by internal candidates, with 1,704 employees moving to roles in a different business division and 570 changing regions. Moreover, 76% of the positions at one level below the GEB were filled with internal candidates.

Achieved 148

Sustainability Report 2022 | Appendix 5 | Other 149.

Material GRI topics.

Objectives 2022 Achievements 2022 Status.

GRI 404: Training and Education Effectively develop, manage and retain our talent to ensure long-term sustainable performance: – Emphasize future-skills development, including digital literacy and agile working practices.

– Support employee resilience and high sustainable performance through continuing emphasis on health and well-being, and personal growth for all employees.

– Ensure that our leaders have the skills they need to grow their businesses and develop their people in an age of agile and digital transformation.

– We invested more than USD 78 million in training in 2022, focusing on building skills for use now and in the future. We introduced foundational training on sustainability and sustainable finance in 2022; we also added new modules on agile working, data literacy, regulatory requirements, diversity and inclusion, wellbeing and other topics. A new learning experience platform offers AI-powered training recommendations based on an employee’s unique needs and interests. In 2022, our full-time employees completed more than 1,327,000 learning activities, an average of two training days per employee.

– We care about our employees and want to support them. We also know that healthy people who are comfortable being themselves at work perform better, leading to more impactful outcomes. We therefore support flexible working arrangements and promote employee health and well-being.

– We further expanded our employee health and well-being offering in 2022. A suite of programs, benefits and workplace resources, along with a bespoke eLearning curriculum, helped our employees manage their health, reduce stress and prevent burnout. Employees participated in virtual fitness challenges, mental health initiatives, volunteering activities and financial education events, and everyone had access to a specialized mindfulness app. Regular “pulse” surveys and a health and well-being dashboard helped us identify and respond to trends in a timely way.

– We emphasize the importance of inclusive leadership skills, ensuring equity in our policies and practices, and increasing the representation of women and ethnic minority employees. We consider recruitment, development and belonging perspectives. For instance, we support flexible working options that benefit current employees and help us attract a more diverse pool of applicants, and executive candidates are screened for inclusive leadership competencies.

Achieved.

Client experience Client needs – Enhance reporting framework for client feedback and client complaints: design and implementation of improved, simplified and structured reports.

– Adopt agile methodology to simplify or improve existing internal processes / procedures and tasks within the Quality Feedback Team and for our stakeholders.

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.

Client needs – Implementation of new design. First edition dispatched for Q4/2022.

– Widened scope of BOT usage to simplify and foster effectiveness of execution of control task with Quality Feedback.

Commercial aspirations – Invested assets reached USD 3,957 billion, down compared to 2021 due to negative market performance, partly offset by net new money.

– Growth in net new fee-generating assets was 4.1% as clients remained on the sidelines in a fast-changing environment.

Achieved.

Partly achieved.

GRI 417: Marketing and Labeling Suitability – Successful enhancement of the advisory and sales process to capture and consider ESG preferences for the selected locations and market segments (European locations and Germany-domiciled clients in Switzerland) including a robust control framework as and when ESG requirements are implemented in each location.

– Design the process change requirements for the remaining market and client segments in Switzerland for rollout in 2023 onwards.

Suitability – Tactical rollout of the new enhanced MIFID standards in European locations and selected clients in Switzerland (i.e., Germany-domiciled clients) successfully took place in August 2022.

– Business requirements for the strategic process changes have been defined also under consideration of the new applicable European Securities and Markets Authority (ESMA) guidance (on certain suitability aspects).

On track 149

Sustainability Report 2022 | Appendix 5 | Other 150.

Material GRI topics.

Objectives 2022 Achievements 2022 Status.

GRI 206: Anticompetitive 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. – The Group Conduct Risk Management Policy was updated to clarify the importance of the business having in place appropriate governance and oversight of the three components of conduct risk: employee-, market- and client-related conduct. The UBS Conduct Risk Framework was updated to reflect governance simplification across the firm.

Achieved.

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 crossborder transfer pricing arrangements with the Organisation for Economic Co-operation and Development (OECD) standards.

– Regular engagement with key external stakeholders, including tax authorities globally.

– UBS’s transfer pricing comports with OECD standards wherever OECD standards are relevant. UBS will implement processes to fully comply with OECD Pillar 2 rules once they enter into force in Switzerland in 2024, and earlier for early adopting countries.

Achieved.

Digitalization – Deliver on Leveling up Tech to transform technology from an enabler to a differentiator and drive the implementation of firm-wide innovation approach, guided, supported and coordinated by UBS Next.

– Enable digital initiatives across and execute on the Group-wide ADA strategy by establishing appropriate governance and expertise to drive successful outcomes for our clients and the firm through data.

– Continued execution of the Leveling Up strategy: – Approximately 18,500 people transitioned to Agile@UBS and DORA metrics implementation to measure teams’ efficiency.

– Engineering ratio up to 68% with defined learning journeys for upskilling and hiring strategy.