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154 |
Sustainability Report 2022 | Appendix 5 | Other 155. |
EU Non-financial disclosures. |
Risk evaluation. |
Pursuant to the requirements of the German law implementing EU directive 2014/95 on non-financial disclosures (CSR-Richtlinie-Umsetzungsgesetz, or CSR-RUG), this section includes an evaluation of the risks that have a high probability of potential negative impacts upon the “aspects” covered by said law. |
Developments in sustainability, climate, environmental and social standards and regulations may affect our business and impact our ability to fully realize our goals. We have set ambitious goals for environmental, social and governance (ESG) matters. These goals include our ambitions for environmental sustainability in... |
While ESG regulatory regimes and international standards are being developed, including to require consideration of ESG risks in investment decisions, some jurisdictions, notably in the US, have developed rules restricting the consideration of ESG factors in investment and business decisions. Under these anti-ESG rules... |
A major focus of US and other countries’ governmental policies relating to financial institutions in recent years has been on fighting money laundering and terrorist financing. We are required to maintain effective policies, procedures and controls to detect, prevent and report money laundering and terrorist financing,... |
155 |
Sustainability Report 2022 | Appendix 5 | Other 156. |
The financial services industry is characterized by intense competition, continuous innovation, restrictive, detailed and sometimes fragmented regulation and ongoing consolidation. We face competition at the level of local markets and individual business lines, and from global financial institutions that are comparable... |
The amount and structure of our employee compensation is affected not only by our business results, but also by competitive factors and regulatory considerations. |
In response to the demands of various stakeholders, including regulatory authorities and shareholders, and in order to better align the interests of our staff with other stakeholders, we have increased average deferral periods for stock awards, expanded forfeiture provisions and, to a more limited extent, introduced cl... |
Sustainability Report 2022 | Appendix 5 | Other 157. |
Non-financial disclosures in accordance with the German law implementing EU directive 2014/95. |
This Sustainability Report and our Annual Report 2022 also include our firm’s disclosures of non-financial information required by the German law implementing EU directive 2014/95 (CSR-Richtlinie-Umsetzungsgesetz, or CSR-RUG). These disclosures can be found in the sections and the pages indicated below. Due to the diff... |
Section in Sustainability Report 2022 (SR 2022) / Annual Report 2022 (AR 2022) Page(s) |
About this report (including framework) About this report SR 2022 / 7. |
Description of the business model Our strategy, business model and environment. |
Our sustainability and impact strategy. |
AR 2022 / 15–66. |
SR 2022 / 8–10. |
Material risks Risk evaluation SR 2022 / 155–156. |
Non-financial aspects Section in Sustainability Report 2022 (SR) / Annual Report 2022 (AR) Page(s) |
Broad thematic issues affecting all non-financial aspects. |
Our focus on sustainability and climate. |
Sustainability and climate risk. |
The importance of sustainability to UBS. |
Governance. |
Key policies and principles. |
Our approach to sustainable finance. |
UBS Sustainability objectives and achievements 2022 and objectives 2023. |
AR 2022 / 43–50. |
AR 2022 / 122–129. |
SR 2022 / 4–5. |
SR 2022 / 20–22. |
SR 2022 / 104–105. |
SR 2022 / 11–19. |
SR 2022 / 145–154. |
Environmental and human rights matters (Material topics: Climate and nature; Social impact and human rights; Sustainable finance) |
Society. |
Our sustainability and impact strategy. |
Supporting our strategy – our stakeholder engagement / vendors. |
Managing our supply chain responsibly. |
Environment. |
Our sustainability and climate risk policy framework. |
Inclusive growth. |
Driving social impact. |
Respecting human rights. |
Reducing our environmental footprint – additional information. |
AR 2022 / 41–42. |
SR 2022 / 8–10. |
SR 2022 / 86. |
SR 2022 / 74–75. |
SR 2022 / 23–61. |
SR 2022 / 93–99. |
SR 2022 / 76–77. |
SR 2022 / 70–72. |
SR 2022 / 73. |
SR 2022 / 122–128. |
Social and employee matters (Employees) |
Our sustainability and impact strategy. |
People and culture make the difference. |
SR 2022 / 8–10. |
SR 2022 / 63–69. |
Anti-corruption and bribery matters (Combating financial crime as a subtopic of Regulatory compliance) |
Combating financial crime. |
Financial crime prevention. |
SR 2022 / 100–101. |
AR 2022 / 51 157 |
Sustainability Report 2022 | Appendix 5 | Other 158. |
Information on UBS AG and UBS Europe SE pursuant to Art. 8 of the EU Taxonomy Regulation. |
The European Commission has set out the EU Taxonomy classification system through the adoption of the Delegated Act of EU Taxonomy Regulation 2020/852. Article 8 of that Regulation requires entities, that are subject to Directive 2014/95/EU, the Non-financial Reporting Directive (the NFRD), to provide information to in... |
Exposures to and investments in undertakings not subject to NFRD reporting, whether or not established in the EU, are excluded from the taxonomy-eligibility calculation and presented separately. |
2022 reporting covers activities related to climate mitigation and climate adaptation objectives. In future years, enhanced disclosures will be required and will consider additional environmental objectives and technical screening criteria. Business strategy, product design and client engagement efforts will also be co... |
In compliance with EU Taxonomy Regulation 2020/852 and associated delegated acts, the total assets of UBS AG and UBS Europe SE presented in the table below have been calculated based on International Financial Reporting Standards (IFRS) and attributed to the taxonomy-eligible activities based on publicly reported infor... |
The disclosure has been prepared on a best-efforts basis, using the following key assumptions: – all counterparties and investees domiciled in the EU meet the definition of a large undertaking as per Directive 2013/34/EU of the European Parliament and of the Council to be within the scope of NFRD reporting, except enti... |
158 |
Sustainability Report 2022 | Appendix 5 | Other 159. |
With the ongoing implementation of EU Taxonomy Regulation 2020/852 and development of market practices, the availability and quality of information is expected to improve. This may affect the basis of preparation and result in refinements in future period disclosures. |
Information pursuant to Art. 8 of the EU Taxonomy Regulation. |
UBS AG (standalone) UBS Europe SE (consolidated) |
USD m 31.12.22 in % 331.12.22 in % Assets related to counterparties subject to an EU Taxonomy eligibility assessment1 14,557 3 44,847 15 of which: assets associated with taxonomy eligible activities2 3,607 1 369 1 of which: assets not associated with taxonomy eligible activities 10,949 2 4,478 14 Assets related to coun... |
Trading assets4,5 90,515 2,289. |
Assets with governments, central banks and supranationals6 99,3907 16,0628. |
Total assets9 660,963 51,343 1 Includes Loans and advances to banks on time, Receivables from securities financing transactions measured at amortized cost, Loans and advances to customers, Other financial assets measured at amortized cost, Brokerage receivables, Financial assets at fair value not held for trading, Fina... |
A significant proportion of the total assets of both entities are transacted with counterparties and investees that are assumed to not be subject to NFRD reporting as they are not domiciled in the EU or due to the nature of their underlying business activity, such as Global Wealth Management Lombard lending to private ... |
159 |
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