UBS

Credit Suisse
Switzerland
Diversified Financials

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

UBS scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with Human Rights Campaign's controversial demands, UBS increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. UBS forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. UBS, an investment banking company, vets vendors to ESG policies. The company is a member of Glasgow's Net Zero Alliance, committed to carbon neutrality by 2050. UBS created the InsightShares LGBT Employment Equality ETF to advance LGBTQ causes and funds multiple LGBTQ organizations. The company has donated to the Equality PAC. For these reasons, UBS receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

UBS received a score of 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits’ employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). UBS will not work with certain suppliers if they do not meet UBS’s ESG criteria. Its Supplier Diversity Guide states that it “will not purchase products or services associated with controversial activities, or, if associated with areas of concern, only purchase them under pre-established guidelines, as defined in UBS’s sustainability and climate risk policy” (3). UBS has pledged to reduce its loan exposure to oil and gas companies (4). However, the company has told the state of Texas that it does not boycott oil and gas entirely (5).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

UBS‘s HRC CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

UBS’s HRC 2023 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2). UBS does not provide viewpoint protections for its employees (3).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

UBS uses its corporate reputation to advance ESG principles as detailed in its sustainability report (1). The company advocates for LGBTQ causes through its participation in Pride events and LGBTQ awards (2). UBS is a member of the Net Zero Asset Managers initiative and a PCAF member, committed to net zero carbon emissions by 2050 (3)(4). UBS‘s HRC 2023 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy (5)(6). By doing so, the company risks dividing employees, alienating customers and harming shareholders.

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

UBS created the InsightShares LGBT Employment Equality ETF (PRID US) to support investments in pro-LGBTQ organizations (1). The company is a brass sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce (2)(3). UBS‘s HRC 2023 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology (4)(5). By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders.

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

UBS‘s HRC 2023 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives (1)(2). By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders. UBS has donated to the Equality PAC but has not lobbied for ideological purposes (3)(4)(5).

All links were last accessed and all information was updated on:
March 22, 2024

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