UBS Group AG is advising its bankers to reconsider their language when discussing sustainable products due to legal advice.
This change affects how bankers communicate on various topics, including net-zero goals and specific transactions for clients.
The increased legal scrutiny particularly impacts products like debt-for-nature swaps, as the bank deals with the complexities of ESG labeling.
Sources suggest that this internal review is part of a broader effort to ensure compliance and reduce potential legal risks associated with ESG claims.