Today sees the publication of UBP’s fifth annual Sustainability Report. It covers our strategy, progress and achievements in terms of both our investments and our own operations, and also outlines our next steps.
The publication also includes a dedicated report on climate-related risks and opportunities in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
While the geopolitical and regulatory developments of 2024, combined with structural shifts across capital markets and macroeconomic uncertainty, have created challenges for the sustainability agenda, they also offer opportunities to reflect, innovate and adapt.
Driven by our long-term vision and conviction that responsible practices are essential for our continued success, we have made significant progress in integrating sustainability into various facets of our business throughout 2024.
"Our sustainability strategy remains pragmatic yet committed, recognising the need to balance immediate realities with long-term goals."
Guy de Picciotto, Chief Executive Officer
Carbon-reduction target reached
Following the implementation of a range of energy measures over the last few years, we have surpassed our 2025 target for reducing operational emissions: UBP achieved a 32% reduction compared with the 2019 baseline – well above our 25% reduction goal.
This was largely driven by a significant shift to renewable sources for our electricity supply and the purchase of renewable energy certificates where renewable energy is not available. Our share of renewable electricity has stood at 99% since 2023. Efforts to improve the energy efficiency of the offices we own, most notably through the renovation of our buildings in Geneva, have also played an important role in our efforts to reduce our carbon emissions.
Despite this progress, we are conscious of the fact that, overall, our emissions increased by 3% compared with 2023 as a result of the continued growth of our business. Going forward, we must particularly address emissions coming from business travel and commuting, which respectively account for 42% and 32% of UBP’s total operational carbon footprint.
Strengthening responsible investing
Despite a challenging environment and the growing backlash against ESG, we continued to make progress on responsible investing. This is key to ensuring that we are ready to serve our clients with sustainable investment options, especially when the current global instability has settled and demand picks up.
We have put a lot of work into creating the framework and tools for comprehensive sustainability assessments. They now encompass environmental, social and governance (ESG) risks, along with negative impacts and positive contributions, enabling us to provide a holistic view of investment opportunities. Furthermore, with the deployment of our sustainability data tool, which streamlines and centralises ESG data, we have integrated non-financial criteria into our entire recommended investment universe.
Our responsibly managed assets have also witnessed a steady increase. Based on a conservative methodology, they now total some CHF 24.2 billion, up from CHF 22.4 billion last year.
Social responsibility
Our sponsorship and employee volunteering initiatives continued to enjoy much success, with many different events having taken place across UBP locations in 2024. These ranged from preparing meals for people in need, driving patients to medical appointments, providing home improvements to help people living in low-quality accommodation, and raising funds for children recovering from cancer treatment, to name just a few.
We have also organised a number of well-being initiatives for our employees, recognising that their health and happiness are integral to our success. These included a series of well-being talks on crucial health-related topics as well as a 12-month trial of a mental health app.
We invite you to read UBP’s 2024 Sustainability Report to find out more.
