UN Principles for Responsible Banking
The Pictet Group signed the Principles for Responsible Banking (PRB), launched in September 2019, at the annual United Nations General Assembly.
The Principles for Responsible Banking provide a framework that serves as an important and complementary next step to the UN Principles for Responsible Investment. This framework focuses on the types of products and solutions provided to clients and how these ultimately create value for clients as well as for all other stakeholders. This is an essential step on the road towards a more sustainable financial system.
UN Principles for Responsible Investment
Committed to integrating ESG criteria
In line with our fiduciary duty to act in the best interests of our clients and our undertaking to adhere to the UN Principles for Responsible Investment (UN PRI), we are committed to integrating ESG criteria in our investment processes and ownership practices with a view to enhancing returns and/or mitigating risks. We also aim to embed ESG in our risk management and reporting tools to maintain high standards of transparency and accountability.
Signatory since 2007
The first Pictet business unit to sign the UN PRI in 2007, Pictet Asset Management, has been active in sustainable investing for nearly 20 years.
Also signatory, Pictet Wealth Management is refining its strategy for responsible investment. The approach aims to address all our decision-making processes, from research to the final investment decision, and is presented in our brochure Responsible Investing.
Pictet Alternative Advisors became a signatory of the UN PRI last July, when it committed to systematically integrating ESG factors in its selection processes.
The Pictet Group Pension Fund also signed up to the UN PRI and adopted an investor charter for asset management which places an emphasis on integrating ESG criteria in portfolio management, active proxy voting and complying with the Pictet Group’s exclusion policy.
Swiss Sustainable Finance
Pictet sits on the Board of Swiss Sustainable Finance (SSF), an association that promotes the integration of sustainability in the financial industry. In particular, it aims to make Switzerland a leading worldwide centre for sustainable finance.
As change makers
Taskforce for financial disclosures
We believe that better information allows companies to incorporate climate-related risks and opportunities into their risk management and strategic planning processes.
Industry initiative on controversial weapons
Led by Pictet and Swiss Sustainable Finance, the aim of this initiative was to have controversial weapons manufacturers removed from mainstream benchmarks and indices. At the end of January 2019, SSF sent its “Open letter to global index providers on the exclusion of controversial weapons” to raise their awareness and obtain their support.
Sustainable Development Goals (SDGs)
The Pictet Group commits to the Sustainable Development Goals (SDGs), which are a collection of 17 interlinked global goals designed to achieve a better and more sustainable future. These goals help Pictet to select projects in the areas of action, as described by the UN. The SDGs were set up in 2015 by the United Nations General Assembly in the hope that they can be achieved by the year 2030.
Building Bridges: where SDGs and finance connect
Pictet is a leading voice in the Building Bridges initiative, which aims to drive more capital to the SDGs through cross-cutting dialogue and a high-level summit. Our commitment and contribution are helping shape and drive the agenda.
ESG Data Convergence Project
The Pictet Group will participate in the creation of the ESG Data Convergence Project to advance an initial standardised set of ESG metrics and mechanisms for comparative reporting, as announced on Thursday 30 September 2021 by leading global General Partners (GPs) and Limited Partners (LPs). The California Public Employees’ Retirement System and global investment firm Carlyle led the collaboration, which includes GPs and LPs representing more than $4 trillion in assets under management.
The objective is to streamline the private equity industry’s historically fragmented approach to collecting and reporting ESG data to create a critical mass of material, performance-based, comparable ESG data from portfolio companies.
Responsibility at Pictet
Our brochures give a full view of the Pictet Group’s approach to sustainability and responsible investing.