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Sustainability disclosure Global Reporting Initiative (GRI): Provider of the world’s most widely used sustainability disclosure standards (the GRI Standards). |
Task Force on Climate-related Financial Disclosures (TCFD): Provider of climate-related financial disclosure recommendations designed to help companies provide better information to support informed capital allocation. |
Taskforce on Nature-related Financial Disclosures (TNFD): Provider of nature-related financial disclosure recommendations designed to help companies provide better information to support informed capital allocation. |
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Value Reporting Foundation SASB Standards: Disclosure standards to guide the disclosure of officially declared material sustainability information by companies to their investors. |
World Economic Forum International Business Council (WEF IBC): Provider of the Stakeholder Capitalism Metrics, which offer a set of universal, comparable disclosures focused on people, planet, prosperity and governance that companies can report on, regardless of industry or region. |
Materiality assessments With regard to the materiality assessments included in this report (GRI-based and climate-related), the GRI requires companies to determine material topics that “represent the organization’s most significant impacts on the economy, environment, and people, including impacts on their human rights.” The TCFD requires companies to conduct a double materiality assessment that looks at both the inside-out impact the company has on the environment and the outside-in impact climate-related activities might have on the company performance. |
UBS-related terms used in this report. |
Unless the context requires otherwise below terms are used for: |
Terms Used for “UBS,” “UBS Group,” “UBS Group AG consolidated,” “Group,” “the Group,” “we,” “us” and “our” |
UBS Group AG and its consolidated subsidiaries “UBS Group AG” and “UBS Group AG standalone” UBS Group AG on a standalone basis 181 |
Sustainability Report 2022 | Appendix 5 | Other 182. |
Abbreviations frequently used in our sustainability report. |
A ADA Artificial Intelligence and Data Analytics AML anti-money laundering AuM assets under management. |
B BCBS Basel Committee on Banking Supervision B4SI Business Investment for Societal Impact BIS Bank for International Settlements BoD Board of Directors BoE Bank of England. |
C CCRC Corporate Culture and Responsibility Committee CCS carbon capture and storage CDP formerly the Carbon Disclosure Project CDR carbon dioxide removal. |
CFO Chief Financial Officer CHF Swiss franc CIC Corporate & Institutional Clients CIO Chief Investment Office C&ORC Compliance & Operational Risk Control CPS current policies scenario. |
D DAF donor-advised fund DJSI Dow Jones Sustainability Indices. |
E EC European Commission EMS environmental management system eNPS employee net promoter score ESG environmental, social and governance EU European Union EUR euro ESR environmental and social risk ETF exchange-traded fund EY Ernst & Young. |
F FATF Financial Action Task Force FCT foreign currency translation FINMA Swiss Financial Market Supervisory Authority FTE full-time employee FX foreign exchange 182 |
Sustainability Report 2022 | Appendix 5 | Other 183. |
G GARP Global Association of Risk Professionals GCFO Group Chief Financial Officer GCRG Group Compliance, Regulatory & Governance GEB Group Executive Board GFA Group Franchise Awards GFANZ Glasgow Financial Alliance for Net Zero GHG greenhouse gas GIA Group Internal Audit GICS Global Industry Classification Standard GRI Global Reporting Initiative. |
H HR human resources. |
I IAS International Accounting Standards IASB International Accounting Standards Board ICMA International Capital Market Association ICMM International Council on Mining and Metals IFRIC International Financial Reporting Interpretations Committee IFRS International Financial Reporting Standards IIF Institute of International Finance IPCC Intergovernmental Panel for Climate Change ISO International Organization for Standardization. |
K KRT key risk taker. |
L LEED Leadership in Energy and Environmental Design LoD lines of defense LRD leverage ratio denominator LTIP Long-Term Incentive Plan LTV loan-to-value. |
M MAT Materiality Assessment Team M&A mergers and acquisitions MiFID II Markets in Financial Instruments Directive II. |
N NFR non-financial risks NFRD Non-Financial Reporting Directive NGFS Network for Greening the Financial System NYSE New York Stock Exchange NZAMi Net Zero Asset Managers initiative NZBA Net-Zero Banking Alliance NZE Net-Zero Emissions by 2050 Scenario 183 |
Sustainability Report 2022 | Appendix 5 | Other 184. |
O OECD Organization for Economic Co-operation and Development ORF operational risk framework OTC over-the-counter. |
P PACI Partnership Against Corruption Initiative PACTA Paris Agreement Capital Transition Assessment PCAF Partnership for Carbon Accounting Financials P&L profit and loss POCI purchased or originated credit-impaired PRA UK Prudential Regulation Authority PRB Principles for Responsible Banking PRI Principles for Responsible Investment. |
Q QED Quant Evidence & Data Science. |
R RSCM responsible supply chain management RSPO Roundtable on Sustainable Palm Oil RW risk weight RWA risk-weighted assets. |
S SBC Swiss Bank Corporation SCFO Sustainability Chief Financial Officer SCR sustainability and climate risk SDC Swiss Agency for Development and Cooperation SDG Sustainable Development Goal SDS Sustainable Development Scenario SEC US Securities and Exchange Commission SECO State Secretariat for Economic Affairs SFRD Sustainable Finance Disclosure Regulation SFWG Sustainable Finance Working Group (IIF) SI sustainable investment SIFI SDG Impact Finance Initiative SII UBS Sustainability and Impact Institute SIX SIX Swiss Exchange SME small and medium-sized entities SNB Swiss National Bank SRI socially responsible investment 184 |
Sustainability Report 2022 | Appendix 5 | Other 185. |
T TBTF too big to fail TCFD Task Force on Climate-related Financial Disclosures TNFD Taskforce on Nature-related Financial Disclosures. |
U UN United Nations UNEP FI United Nations Environment Programme Finance Initiative UNGPs UN Guiding Principles on Business and Human Rights USD US dollar. |
V VaR value-at-risk. |
W WFSF Wolfsberg Forum for Sustainable Finance. |
Note: This list of abbreviations is not deemed to be comprehensive of all the abbreviations used in this report. |
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Cautionary Statement | This report may contain statements that constitute “forward-looking statements.” Refer to the Cautionary Statement Regarding Forward-Looking Statements in UBS’s Annual Report 2022, available at ubs.com/investors, for further details. |
Notice to investors | This report and the information contained herein are provided solely for information purposes, and are not to be construed as solicitation of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this report. Refer to UBS’s Annual Report 2022, available at ubs.com/investors, for additional information. |
Rounding | Numbers presented throughout this report may not add up precisely to the totals provided in the tables and text. Percentages and percent changes are calculated on the basis of unrounded figures. Information about absolute changes between reporting periods, which is provided in text and which can be derived from figures displayed in the tables, is calculated on a rounded basis. |
Tables | Within tables, blank fields generally indicate that the field is not applicable or not meaningful, or that information is not available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis. Percentage changes are presented as a mathematical calculation of the change between periods. |
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UBS Group AG P.O. Box CH-8098 Zurich ubs.com |