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UBS lawyers give guidance to bankers selling ESG products (2024)
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Lawyers at UBS issued guidance to the firm’s bankers on avoiding accusations of misleading marketing and labeling of ESG investment products. Legal teams throughout the industry have issued similar warnings to promote compliance with international regulations:
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The development affects the kind of language bankers are free to use when presenting a whole array of topics spanning net-zero goals to individual transactions for clients, the people said asking not to be identified revealing internal deliberations. Specific products such as debt-for-nature swaps are among those affected by the heightened level of legal anxiety, one of the people said. … The decision to rein in the use of certain ESG (environmental, social, governance) product labels and claims at UBS coincides with a wider shift inside the finance industry, as regulators in Europe churn out stricter rules and the number of activist lawsuits increases. In the US, meanwhile, ESG labels risk triggering the ire of Republican lawmakers intent on banning the financial strategy outright. The guidance at UBS is designed to ensure the bank isn’t accused of greenwashing or seen to be non-compliant with emerging regulations, one of the people familiar with the matter said.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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