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  "documentTitle": "sustainability investor presentation mar 24",
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  "notes": "The slide details the SCR (Sustainability and Climate Risk) framework and its application across client onboarding, transactions, product development, operations, supply chain, and portfolio management.",
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      "text": "In 2024, 5,452 referrals were assessed by our SCR unit, of which 380 were rejected or not pursued, 484 were approved with certain qualifications and 464 were pending.",
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      "text": "UBS Group Sustainability Report 2024 | Supplement | Governance",
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      "text": "Client onboarding: Potential clients are assessed for SCR associated with their business activities as part of UBS's know-your-client (KYC) processes.\nTransaction due diligence: SCR are identified and assessed as part of standard transaction due diligence and decision-making processes.\nProduct development and investment decision processes: New financial products and services are reviewed before their launch in order to assess their compatibility and consistency with UBS's environmental and human rights standards. SCR are also considered where relevant as part of the firm's overall ESG approach to investment decision processes and when exercising ownership rights, such as proxy voting and engagement with the management of investee entities.\nOwn operations: Our operational activities and employees, and contractors working on UBS's premises, are assessed for compliance with relevant environmental, health and safety, and labor rights regulations.\nSupply chain management: SCR are assessed when selecting and dealing with suppliers. UBS also evaluates goods and services that pose potential environmental, labor and human rights risks during the life cycle (production, usage and disposal) as part of its purchasing processes.\nPortfolio review: 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.",
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      "text": "Clients, transactions or suppliers potentially in breach of our standards, or otherwise subject to significant climate, environmental and human rights controversies, are referred to our SCR unit, which approves or rejects the cases after assessing their compliance with the firm's risk appetite standards. 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. The systematic nature of this tool significantly enhances our ability to identify potential risk.",
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      "text": "The management of sustainability and climate risk is steered at the GEB level. Reporting to the Group CEO, the Group Chief Risk Officer is responsible for the development and implementation of control principles and an appropriate independent control framework for sustainability and climate risk within UBS, and its integration into the firm's overall risk management and risk appetite frameworks. The Chief Risk Officer (CRO) for Sustainability and climate risk activities in Group Risk Control, including the Sustainability and Climate Risk Initiative.",
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      "text": "In 2024, 5,452 referrals were assessed by our SCR unit, of which 380 were rejected or not pursued, 484 were approved with certain qualifications and 464 were pending. The overall number of SCR referrals increased by 23% compared with 2023. The increase is mainly driven by the combination of SCR standard and risk appetites of Credit Suisse and UBS.",
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      "text": "Given the many sustainability- and climate-related challenges globally, these topics will continue to increase in relevance for banks. These developments therefore require regular and critical assessment of our policies and practices, based on accurate monitoring and analysis of societal topics of potential relevance to UBS.",
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