UBS
Financing Destruction, Fueling Biodiversity Loss
UBS plays a key role in the destruction of global biodiversity by financing extractive industries responsible for deforestation, pollution, and violations of Indigenous peoples’ and local communities rights. Ranked among the worst international banks for investments in fossil fuels, UBS has injected more than $210 billion into this sector since the Paris Agreement, between 2016 and 2023. Despite its commitments, UBS continues to financially support companies like Chevron, TotalEnergies, and Shell with a $44.9 billion investment in 2024.
From April 2021 to August 2022 alone, UBS and Credit Suisse provided at least $8 billion in loans and underwriting to companies developing new projects in the coal sector ($1 billion) and oil and gas extraction, including new gas projects ($7 billion). In September 2022, Switzerland’s five largest asset managers (UBS AM, CS AM, Pictet AM, Zurich, Swiss Life) held at least $22.2 billion in companies developing new projects in the coal sector ($2 billion) and new oil and gas extraction projects ($20.3 billion).
The Amazon
UBS finances Brazilian industrial agriculture and oil extraction, contributing to deforestation and violations of Indigenous peoples’ rights.
Asian Marine Life
South Asian Marine Life, UBS supports firms building LNG infrastructure in the Philippines and Thaïland threatening one of the world’s richest marine ecosystems.
One of the Worst
UBS invested 210B USD in fossil fuels since Paris Agreement and is the 10th biggest investor wordlwide!
PAST ACTIONS
Credit Suisse – #DefundLine3
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