Reported about 1 month ago
UBS bankers are being urged to change how they describe sustainable products following legal concerns. This involves more cautious language for various environmental, social, and governance (ESG) products, including renaming 'debt-for-nature swaps' to 'Country Debt Conversion With Associated Sustainable Development Goal Funding.' The bank aims to avoid accusations of greenwashing and ensure compliance with stricter regulations and rising legal scrutiny within the financial industry.
Source: YAHOO