UBS
Risk Level:
Summary:
UBS, an investment banking company, vets vendors for their LGBTQ and ESG policies. It discriminates against religious organizations in its charitable giving and fails to protect employees against viewpoint discrimination. UBS uses its corporate reputation to advance ESG principles. UBS created the InsightShares LGBT Employment Equality ETF to advance LGBTQ causes. For these reasons, UBS receives a Medium Risk rating.
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.
UBS received a score of 100 on the Corporate Equality Index (CEI) from the Human Rights Campaign. Among other requirements, this means the company has pledged to vet vendors based on LGBTQ policies (1). 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” (2). UBS has pledged to reduce its loan exposure to oil and gas companies (3). However, the company has told the state of Texas that it does not boycott oil and gas entirely (4).
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
UBS will not match employee donations to churches or religious organizations. “The Matching Gift Program will not contribute matching funds to political parties or candidates; political advocacy groups; religious, professional, social, service, fraternal or athletic associations or booster clubs; or political advocacy groups sponsored by eligible organizations” (1).
Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.
UBS does not protect its employees against viewpoint discrimination (1).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
UBS created the InsightShares LGBT Employment Equality ETF (PRID US) to support investments in pro-LGBTQ organizations (1).
Uses corporate political contributions for ideological, non-business purposes.
UBS uses its PAC to donate in a bipartisan manner (1).
All links were last accessed and all information was updated on:
March 9, 2023
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