ABSTRACT
UBS AG is a globally active financial institution and, as such, subject to continual change. It is crucial for the Environmental Management Systems to be established along banking processes and not to form an independent management system. UBS is one of the world's leading financial services groups. UBS WAS formed through the merger of Union Bank of Switzerland and Swiss Bank Corporation. UBS Group consists of three divisions: UBS Switzerland, UBS Asset Management and UBS Warburg. UBS experienced the integration of environmental issues in banking processes as being much easier than a geographical approach that focuses on single locations. UBS' environmental management system has consequently been designed to predominantly focus on its core businesses, financial products and services, while including direct environmental impacts resulting from its in-house operations. Financially relevant environmental aspects have a well-established role in UBS credit rating procedures, along with traditional rating factors such as financial performance indicators, sector allocation or management quality.
