UBS Asset Management misses the boat on coal

Reclaim Finance assesses the March 2021 coal exclusion policy of UBS Asset Management, finding it insufficient due to the omission of the coal power sector and the exclusion of passively managed assets. The analysis highlights that UBS AM continues to support coal developers and companies below a 30% revenue threshold, such as Glencore and Adani, and lacks a defined global coal phase-out strategy aligned with IPCC-based deadlines.

• UBS Asset Management's March 2021 coal policy excludes companies generating 30% or more of their revenues from thermal coal mining and sales, but it entirely omits the coal power sector.
• The policy's implementation is limited in scope, covering only 36% of Assets under Management (AuM) and excluding passively managed assets, which account for approximately 42% of total AuM.
• UBS AM continues to support coal developers planning new infrastructure and companies that fall below the 30% revenue threshold, specifically citing investments in Glencore and the Adani Group.
• As of November 2020, UBS AM held $3.9bn in shares and $1.2bn in bonds of 167 coal companies listed on the Global Coal Exit List (GCEL).
• The document argues that UBS AM lacks a strategy for a global coal phase-out by 2030 in European and OECD countries and 2040 worldwide, failing to align with IPCC-based recommendations.

APA

admin (2021). UBS Asset Management misses the boat on coal. Reclaim Finance. https://reclaimfinance.org/site/en/2021/03/19/ubs-asset-management-misses-the-boat-on-coal/

Chicago

admin. UBS Asset Management misses the boat on coal. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/03/19/ubs-asset-management-misses-the-boat-on-coal/.

Wikipedia

{{cite press release |last1=admin |title=UBS Asset Management misses the boat on coal |publisher=Reclaim Finance |date=19 March 2021 |url=https://reclaimfinance.org/site/en/2021/03/19/ubs-asset-management-misses-the-boat-on-coal/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021ubs, author = {admin}, title = {{UBS Asset Management misses the boat on coal}}, publisher = {Reclaim Finance}, year = {2021}, month = mar, url = {https://reclaimfinance.org/site/en/2021/03/19/ubs-asset-management-misses-the-boat-on-coal/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }