UBS CEO Sergio Ermotti joins an exclusive manager alliance that aims to make the world a better place. The big bank itself is now working side by side with the UN.
Sergio Ermotti joins the CEO Alliance on Global Investors for Sustainable Development (GISD), founded last April, as UBS announced on Wednesday. The exclusive club of 30 financial managers, including Scott Mather of the US investment firm Pimco, got invitation by UN Secretary General António Guterres to join.
At the same time, UBS will become part of the GISD association of companies committed to strengthening and accelerating efforts to align their businesses with the UN’s Sustainable Development Goals (SDG).
5 billion dollars for impact investments
According to the announcement, UBS has set itself the goal of becoming a member of UBS by the end of 2021, with a target of approximately $5 billion in impact investments with positive social and environmental returns. Moreover, the cost of achieving the UN’s sustainability goals has estimatation at several trillion dollars per year.
Two years ago, Switzerland’s largest bank started to promote sustainable investments on an industrial scale. In addition, CEO Ermotti personally involved in a number of activities. Since last June, for example, he wore “Togetherband” bracelets. Those, which symbolise the 17 SDG goals and are intended to help bring these goals closer.
(Featured Image By Boris Baldinger)
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