Finance
UBS Purges DEI From Annual Report Amid Trump’s Backlash
UBS’s 2024 sustainability and annual reports omit references to “DE&I.”
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
UBS Group AG’s annual report no longer refers to a key sustainability term that has come under attack from the Trump administration, indicating how the backlash is impacting European firms.
The Swiss bank’s 2024 sustainability and annual reports, published Monday, omit references to “DE&I,” which stands for diversity, equity and inclusion. The previous year’s reports mentioned that term 21 times, which was already a decline from a peak in the 2022 filings.