ESG & Investing
UBS Slips in ESG Fund-Manager Ranking on Credit Suisse Deal
- Morningstar says integration may ‘slow further ESG progress’
- UBS AM was only firm to fall to ‘Basic’ from ‘Advanced’
A UBS bank branch in Basel, Switzerland.
Photographer: Fabrice Coffrini/AFP/Getty ImagesThis article is for subscribers only.
The asset management arm of UBS Group AG has slipped in an ESG ranking published by Morningstar Inc., which pointed to its acquisition of Credit Suisse as the main reason for the decline.
The ranking, which looks at 108 global asset managers, listed UBS as the only firm to fall to “Basic” from “Advanced” in its so-called commitment level to environmental, social and governance issues, according to a report published Wednesday. The four-notch scale ranges from “Low” to “Leader.”