Download data
A Global Canopy project
Menu

Select an assessment year:

Download data
  • Overall approach
    4/10
    • Overarching commitment on deforestation
      2/6
      Overarching commitment
      Zero net deforestation commitment
      2/6
      "In 2014, we joined the Soft Commodities Compact, launched by the Banking Environment Initiative of Cambridge University. The premise of the compact is that we should help clients who contribute to deforestation by working with them to achieve zero net deforestation."
      Open source document
    • Deforestation as a business risk
      1/1
      Business risk
      Yes
      1/1
      Type of financial risk recognised by the financial institution: Material
      "Yet deforestation continues to cause severe societal problems, sometimes leading to violent conflicts. Recognizing these risks, we Became member of the Responsible Roundtable on Sustainable Palm Oil...Endorsed the Banking Environment Initiative’s and Consumer Goods Forum’s “Soft Commodities” Compact...Have identified and will not engage in certain activities that contribute to deforestation and its related impacts (see the subsequent “Controversial activities – where UBS will not do business” and “Areas of concern – where UBS will only do business under stringent criteria” sections)."
      Open source document
    • Target to reduce emissions in scope 1/2
      Reduce emissions
      No
      0/0
      Type of climate target: N/A
    • Clients/holdings must have anti-corruption policy
      0.0/1
    • Collaborative finance sector initiatives
      1/2
      Collaborative initiatives
      Yes, involved in a collaborative finance sector initiative focused on deforestation
      1/2
      In which location?: Global

      Does the financial institution engage ESG data providers on the need for better data on deforestation?: No

      Which initiative?: Banking Environment Initiative’s and Consumer Goods Forum’s ’Soft Commodities’ Compact, Banking Environment Initiative , FAIRR, Investor statement on deforestation and forest fires in the Amazon, Investor Working Group on Sustainable Palm Oil, RSPO, TNFD

      Is a 2025 target date encouraged within the collaborative initiative(s)?: No
      "In 2012, we became a member of the Roundtable on Sustainable Palm Oil, and joined its complaints panel in 2014. Also in 2014, we endorsed the Banking Environment Initiative’s and Consumer Goods Forum’s ’Soft Commodities’ Compact which reconfirms our commitment to developing and implementing responsible business standards." Banking Environment Initiative’s and Consumer Goods Forum’s ’Soft Commodities’ Compact, Banking Environment Initiative , FAIRR, Investor statement on deforestation and forest fires in the Amazon, Investor Working Group on Sustainable Palm Oil, RSPO, TNFD
      Open source document Open source document Open source document Open source document Open source document Open source document Open source document Open source document
    • Nature/people-positive investment
      Nature-positive investment
      No
      0/0
      Is due diligence conducted on these nature- and people- positive activities to ensure they are compliant with the standards of the policy outlined in 1.1?: No
  • Commodity score
    22/90
    • Beef & Leather
      4/90
      • Policy Strength
        0/28
        • Commodity-specific deforestation financing policy
          0/8.8
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Associated Human Rights Abuses
        4/27
        • Clients/holdings must test Free, Prior and Informed Consent
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            Does the financial institution require the client/holding to cease acquisition/expansion unless FPIC is given?: No
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        0/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          No
          0/2
        • Remediation of environmental or social harms
          No
          0/4
    • Palm oil
      30/90
      • Policy Strength
        13/28
        • Commodity-specific deforestation financing policy
          6.7/8.8
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: Yes
            "Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          2.2/3.8
          • Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            What type of assurance mechanism is used?: Assurance mechanism
            "Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.7/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the target date for the full implementation of the financial institution's policy?: NA

            What is the deadline for the portfolio companies to become compliant with the policy?: NA

            What is the length of time the portfolio companies are given to meet their time-bound plans?: Requirement for financing
            "Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Specific guidelines and assessment criteria apply to transactions with corporate clients engaged in the areas of concern listed below. The guidelines and assessment criteria apply to loans, trade finance, direct investments in real estate and infrastructure, securities and loan underwriting transactions, and investment banking advisory assignments."[...]"Palm Oil: Companies must be a member of the RSPO and not subject to any unresolved public criticism from the RSPO. – Companies must further have some level of mill or plantation certification and be publicly committed to achieving full certification (evidence must be available). – Companies must also be committed to “No Deforestation, No Peat and No Exploitation” (NDPE)."[...]"UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO);...– High conservation value forests"
            Open source document
      • Associated Human Rights Abuses
        4/27
        • Clients/holdings must test Free, Prior and Informed Consent
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            Does the financial institution require the client/holding to cease acquisition/expansion unless FPIC is given?: No
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        13/35
        • Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Does the financial institution publish the outcome of the risk assessment?: No

          Does the financial institution publish the risk assessment framework/tool used?: Yes
          “Controversial activities and other areas of concern UBS will not engage in, or will only engage in under stringent criteria. Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO); – Wetlands on the Ramsar list; – Endangered species of wild flora and fauna listed in Appendix 1 of the Convention on International Trade in Endangered Species; – High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) – Illegal fire: uncontrolled and / or illegal use of fire for land clearance; [….] will not engage in commercial activities that make use of child labor and forced labor, or that infringe the rights of indigenous peoples […] Risk management and control: standard financial and nonfinancial risk processes ensure that material sustainability and climate risks are identified, assessed, approved and escalated in a timely manner. These processes are applied in client onboarding, transaction due diligence, product development and supply chain management.[…] Client onboarding: Potential clients are assessed for sustainability and climate risks associated with their business activities as part of UBS’s Know-your-client processes.”
          Open source document
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "UBS annually performs a sustainability and climate risk materiality assessment of its products, services and supply chain (in accordance with the ISO 14001 standard and UBS’s Risk Control Self-Assessment). Products, services and activities deemed as having high risk are subject to the following framework...UBS’s exposures to high- and medium-risk sectors, changes in regulations, and emerging sustainability risks are monitored, and the Group Executive Board reviews and adjusts the risk appetite standards when it sees fit." - the above applies to UBS's policy on palm oil, soy and timber"
          Open source document
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Does the financial institution assess the severity of any non-compliance on the ground in forest-risk commodity supply chains in line with the guidance of the Accountability Framework?: No

          Does the financial institution prioritise clients/holdings for engagement based on their compliance monitoring? If yes, do they use thresholds/cut offs to identify these clients/holdings?: NA
          "At the portfolio level, we regularly review sensitive sectors and activities prone to bearing sustainability and climate-related risks. We assess client exposure and revenue in such sectors and attempt to benchmark the portfolio quality against regional and / or sector averages. Such portfolio reviews give us an accurate aggregated exposure profile and an enhanced insight into our transaction and client onboarding processes. Based on the outcome of these reviews, we can explore ways to improve the future portfolio profile along a range of risk parameters."[...]"Procedures and tools for the identification, assessment and monitoring of sustainability and climate risks are applied and integrated into our standard risk, compliance and operations processes."[...]"Our processes seek to identify and manage potential adverse impacts to the environment and to human rights, as well as the financial and reputational risks of being associated with them. Advanced data analytics on companies associated with such risks is integrated into the web-based compliance tool used by our staff before they enter into a client or supplier relationship, or a transaction."
          Open source document
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Type of reporting: Data analytics-based portfolio review tool
          "The systematic nature of this tool significantly enhances our ability to identify potential risk. In 2021, our SCR unit assessed 2,919 referrals, of which 100 were rejected or not pursued further, while 384 were approved with qualifications and 72 were pending at year-end 2021."
          Open source document
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          No
          0/2
        • Remediation of environmental or social harms
          No
          0/4
    • Soy
      28/90
      • Policy Strength
        11/28
        • Commodity-specific deforestation financing policy
          4.7/8.8
          • Commitment details
            Protects priority forests
            4/8
            Commitment details
            Protects priority forests
            4/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: Yes
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers
            0/0.2
            Policy applies to all stages of the supply chain
            Producers
            0/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          2.2/3.8
          • Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            What type of assurance mechanism is used?: Assurance mechanism
            "Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers
            0/0.2
            Policy applies to all stages of the supply chain
            Producers
            0/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the length of time the portfolio companies are given to meet their time-bound plans?: NA

            What is the target date for the full implementation of the financial institution's policy?: NA

            What is the deadline for the portfolio companies to become compliant with the policy?: Required at onboard
            "Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] Companies producing soy in markets at high risk of tropical deforestation must be a member of the Roundtable on Responsible Soy (the RTRS), or must apply a similar standard such as Proterra, International Sustainability & Carbon Certification (ISCC) or Cefetra Certified Responsible Soya (CRS), and not be subject to any unresolved public criticism from these standards. – When a company is not certified, it must credibly commit to RTRS or a similar standard, providing a robust time-bound plan or demonstrate a credible commitment toward an equivalent standard, to be independently verified."
            Open source document
      • Associated Human Rights Abuses
        4/27
        • Clients/holdings must test Free, Prior and Informed Consent
          3.6/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            Does the financial institution require the client/holding to cease acquisition/expansion unless FPIC is given?: No
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: [...] "Indigenous peoples’ rights in accordance with IFC Performance Standard 7." This Performance Standard requires organisations "to ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        13/35
        • Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Does the financial institution publish the risk assessment framework/tool used?: Yes

          Does the financial institution publish the outcome of the risk assessment?: No
          “Controversial activities and other areas of concern UBS will not engage in, or will only engage in under stringent criteria. Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO); – Wetlands on the Ramsar list; – Endangered species of wild flora and fauna listed in Appendix 1 of the Convention on International Trade in Endangered Species; – High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) – Illegal fire: uncontrolled and / or illegal use of fire for land clearance; [….] will not engage in commercial activities that make use of child labor and forced labor, or that infringe the rights of indigenous peoples […] Risk management and control: standard financial and nonfinancial risk processes ensure that material sustainability and climate risks are identified, assessed, approved and escalated in a timely manner. These processes are applied in client onboarding, transaction due diligence, product development and supply chain management.[…] Client onboarding: Potential clients are assessed for sustainability and climate risks associated with their business activities as part of UBS’s Know-your-client processes.”
          Open source document
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "UBS annually performs a sustainability and climate risk materiality assessment of its products, services and supply chain (in accordance with the ISO 14001 standard and UBS’s Risk Control Self-Assessment). Products, services and activities deemed as having high risk are subject to the following framework...UBS’s exposures to high- and medium-risk sectors, changes in regulations, and emerging sustainability risks are monitored, and the Group Executive Board reviews and adjusts the risk appetite standards when it sees fit." - the above applies to UBS's policy on palm oil, soy and timber"
          Open source document
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Does the financial institution assess the severity of any non-compliance on the ground in forest-risk commodity supply chains in line with the guidance of the Accountability Framework?: No

          Does the financial institution prioritise clients/holdings for engagement based on their compliance monitoring? If yes, do they use thresholds/cut offs to identify these clients/holdings?: NA
          "At the portfolio level, we regularly review sensitive sectors and activities prone to bearing sustainability and climate-related risks. We assess client exposure and revenue in such sectors and attempt to benchmark the portfolio quality against regional and / or sector averages. Such portfolio reviews give us an accurate aggregated exposure profile and an enhanced insight into our transaction and client onboarding processes. Based on the outcome of these reviews, we can explore ways to improve the future portfolio profile along a range of risk parameters."[...]"Procedures and tools for the identification, assessment and monitoring of sustainability and climate risks are applied and integrated into our standard risk, compliance and operations processes."[...]"Our processes seek to identify and manage potential adverse impacts to the environment and to human rights, as well as the financial and reputational risks of being associated with them. Advanced data analytics on companies associated with such risks is integrated into the web-based compliance tool used by our staff before they enter into a client or supplier relationship, or a transaction."
          Open source document
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Type of reporting: Data analytics-based portfolio review tool
          "The systematic nature of this tool significantly enhances our ability to identify potential risk. In 2021, our SCR unit assessed 2,919 referrals, of which 100 were rejected or not pursued further, while 384 were approved with qualifications and 72 were pending at year-end 2021."
          Open source document
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          No
          0/2
        • Remediation of environmental or social harms
          No
          0/4
    • Timber, Pulp & Paper
      28/90
      • Policy Strength
        11/28
        • Commodity-specific deforestation financing policy
          4.7/8.8
          • Commitment details
            Protects priority forests
            4/8
            Commitment details
            Protects priority forests
            4/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: Yes
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          2.2/3.8
          • Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            What type of assurance mechanism is used?: Assurance mechanism
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers
            0/0.2
            Policy applies to all stages of the supply chain
            Producers
            0/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.7/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the length of time the portfolio companies are given to meet their time-bound plans?: na

            What is the deadline for the portfolio companies to become compliant with the policy?: required at onboarding

            What is the target date for the full implementation of the financial institution's policy?: na
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers
            0/0.2
            Policy applies to all stages of the supply chain
            Producers
            0/0.2
            "Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose [...] associated with severe environmental or social damage to [...] High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) [...] – Companies producing timber in markets at high risk of tropical deforestation must seek to achieve full certification of their production according to the Forest Stewardship Council (the FSC) or a national scheme endorsed against the 2010 Programme for the Endorsement of Forest Certification (PEFC) meta standard for timber products. – Companies must also have fire prevention, monitoring and suppression measures in place."
            Open source document
      • Associated Human Rights Abuses
        4/27
        • Clients/holdings must test Free, Prior and Informed Consent
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            Does the financial institution require the client/holding to cease acquisition/expansion unless FPIC is given?: No
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: Indigenous peoples' rights in accordance with IFC Performance Standard 7"[...] Key objective of IFC Performance Standard 7 is "To ensure the Free, Prior, and Informed Consent (FPIC) of the Affected Communities of Indigenous Peoples when the circumstances described in this Performance Standard are present."
            Open source document Open source document
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        13/35
        • Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Does the financial institution publish the risk assessment framework/tool used?: No

          Does the financial institution publish the outcome of the risk assessment?: No
          “Controversial activities and other areas of concern UBS will not engage in, or will only engage in under stringent criteria. Controversial activities – where UBS will not do business UBS will not knowingly provide financial or advisory services to clients whose primary business activity, or where the proposed transaction, is associated with severe environmental or social damage to or through use of: – World heritage sites as classified by the United Nations Educational, Scientific and Cultural Organization (UNESCO); – Wetlands on the Ramsar list; – Endangered species of wild flora and fauna listed in Appendix 1 of the Convention on International Trade in Endangered Species; – High conservation value forests as defined by the six categories of the Forest Stewardship Council (FSC) – Illegal fire: uncontrolled and / or illegal use of fire for land clearance; [….] will not engage in commercial activities that make use of child labor and forced labor, or that infringe the rights of indigenous peoples […] Risk management and control: standard financial and nonfinancial risk processes ensure that material sustainability and climate risks are identified, assessed, approved and escalated in a timely manner. These processes are applied in client onboarding, transaction due diligence, product development and supply chain management.[…] Client onboarding: Potential clients are assessed for sustainability and climate risks associated with their business activities as part of UBS’s Know-your-client processes.”
          Open source document
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "UBS annually performs a sustainability and climate risk materiality assessment of its products, services and supply chain (in accordance with the ISO 14001 standard and UBS’s Risk Control Self-Assessment). Products, services and activities deemed as having high risk are subject to the following framework...UBS’s exposures to high- and medium-risk sectors, changes in regulations, and emerging sustainability risks are monitored, and the Group Executive Board reviews and adjusts the risk appetite standards when it sees fit." - the above applies to UBS's policy on palm oil, soy and timber"
          Open source document
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Does the financial institution assess the severity of any non-compliance on the ground in forest-risk commodity supply chains in line with the guidance of the Accountability Framework?: No

          Does the financial institution prioritise clients/holdings for engagement based on their compliance monitoring? If yes, do they use thresholds/cut offs to identify these clients/holdings?: NA
          "At the portfolio level, we regularly review sensitive sectors and activities prone to bearing sustainability and climate-related risks. We assess client exposure and revenue in such sectors and attempt to benchmark the portfolio quality against regional and / or sector averages. Such portfolio reviews give us an accurate aggregated exposure profile and an enhanced insight into our transaction and client onboarding processes. Based on the outcome of these reviews, we can explore ways to improve the future portfolio profile along a range of risk parameters."[...]"Procedures and tools for the identification, assessment and monitoring of sustainability and climate risks are applied and integrated into our standard risk, compliance and operations processes."[...]"Our processes seek to identify and manage potential adverse impacts to the environment and to human rights, as well as the financial and reputational risks of being associated with them. Advanced data analytics on companies associated with such risks is integrated into the web-based compliance tool used by our staff before they enter into a client or supplier relationship, or a transaction."
          Open source document
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Type of reporting: Data analytics-based portfolio review tool
          "The systematic nature of this tool significantly enhances our ability to identify potential risk. In 2021, our SCR unit assessed 2,919 referrals, of which 100 were rejected or not pursued further, while 384 were approved with qualifications and 72 were pending at year-end 2021."
          Open source document
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          No
          0/2
        • Remediation of environmental or social harms
          No
          0/4
  • Commitment strength
    9/28
    Avg. score
  • Implementation and Reporting
    10/35
    Avg. score
  • Associated Human Rights Abuses
    4/27
    Avg. score

Profile

UBS are a global banking and investment group headquartered in Switzerland serving private, corporate and institutional clients. Their services include investment banking, capital markets, wealth management, corporate finance and retail banking services. As of 2021, UBS' total assets amount to more than 1.1 Trillion USD, and in 2022 provided loans of close to 400Billion USD. UBS are among the top shareholders and lenders for Forest 500 companies, across a broad range of forest risk sectors. In the 2022 selection, UBS was providing 81.6 billion USD to the Forest 500 companies.

HQ
HQ 
Switzerland
Financial institution type
Financial institution type 
FI

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Full finance sector performance data Forest 500 assessment methodology

Related articles and press coverage

banana leaves

More than half of Welsh public pension investments at risk of financing deforestation

27 November 2023

UBS and Santander’s ‘green’ bonds linked to deforesters and rancher accused of slave labour in Brazil

17 October 2023
rainforest

Update to the Forest 500 assessment process for 2023

28 September 2023
Beef cattle

Beef companies failing to protect human rights

19 July 2023

See all articlesSee all press coverage

More financial institutions

Raymond James Financial
0%
Daiwa Securities
11%
Fundsmith
1%
Flossbach & von Storch
0%
CIBC
1%
Bank DKI
0%

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.