Climate Changed
Why UBS Is Bringing Its Climate-Proofing Strategy to Proxy Voting
- Firm says it backed majority of climate resolutions this year
- Change resulted from collaboration with pension fund client
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UBS Group AG increased its backing of shareholder climate resolutions this year, according to Christopher Greenwald, head of sustainable investing research at UBS Asset Management.
UBS, which has more than $1 trillion of its $3.7 trillion in assets under management in sustainable and responsible strategies, made the firm-wide change after a collaboration with a client. The Swiss firm joins other asset managers, including State Street, Blackrock and Vanguard, that are stepping up their focus on climate change in discussions with companies.