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Last update: 2017-11-21 17:56:41
BankTrack
Ryan Brightwell, researcher and editor
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About



Modern UBS was formed through a merger of the Union Bank of Switzerland and the Swiss Bank Corporation in June 1998. UBS is headquartered in Zurich and Basel, and it is the world's largest manager of private wealth assets and the second-largest bank in Europe. The bank provides a range of financial services, including investment banking and asset management, to corporate, private, and institutional clients.
As of December 2016, UBS' total assets were USD 942,964.08 million.
Headquarters |
Bahnhofstrasse 45
CH 8098 Zurich
Switzerland
|
Supervisor | |
CEO/chair |
Sergio P. Ermotti Group Chief Executive Officer |
Annual report | Annual Report 2016 |
Website | http://www.ubs.com |
Ownership |
listed on NYSE Euronext
|
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Patents on chimpanzees and other animals - international -
Woodside Petroleum’s gas refinery Australia
Companies
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Arch Coal United States
Areva France
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EDF France
Elbit Systems Israel
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Glencore Switzerland
Golden Agri-Resources - GAR Singapore
Jindal Steel & Power India
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Rio Tinto Australia
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Policies
Voluntary initiatives
UBS has committed itself to the following voluntary standards:Investment policies
Its environmental policy was established in 1993 and its statement on human rights in 2006. Both were integrated into one policy in 2014.
Issues
Human rights
True leader
Front runner
Follower
Laggard
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BankTrack has assessed UBS on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. UBS is assessed as a Front runner, with a total score of 6.5/12.
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Good moves
2017

Thun Group banks revise human rights paper following BankTrack demands
In February, BankTrack coordinated and sent an open letter to the 11 banks that signed a Discussion Paper by the Thun Group, calling for the paper's withdrawal. The paper took as its starting point that banks do not contribute to human rights abuses through their finance, flying in the face of UN advice on banks’ human rights responsibilities. The concerns raised in the letter were quickly echoed by others, and following further discussions the paper was revised in December, partially addressing the concerns.
2014

Thun Group of Banks agrees to consider remedy for victims of human rights abuse
In 2013 the seven-strong Thun Group of Banks' produced a discussion paper on banks' responsibilities under new UN human rights guidelines. BankTrack's response to the paper highlighted that the banks had failed to address their responsibility to provide access to remedy to victims of human rights abuses. After we pushed the point further at a conference with the banks in 2014, they agreed to "explore options for addressing ... access to remedy." We look forward to the outcome.