Principles for Responsible Banking

Pictet Group Annual Report on United Nations Principles for Responsible Banking

About the Principles

The Pictet Group commits to the UN Principles for Responsible Banking, launched in September 2019 during the annual United Nations General Assembly.

The United Nations Principles for Responsible Banking are a framework that serves as an important and complementary next step to the Principles for Responsible Investing, signed by Pictet in 2007. The Principles for Responsible Banking focus on the types of products and solutions provided to clients and how they ultimately create value for them as well as for all other stakeholders. This framework is an essential step in the journey towards a more sustainable banking system.

Sustainability is central to Pictet’s way of thinking. This goes hand in hand with embracing sustainability in our day-to-day investment decisions. It is in this spirit that we have taken the decision to pledge to the Principles for Responsible Banking.

— Marc Pictet, Senior Partner, Pictet Group

Report for the year 2023

Pictet Report on United Nations Principles for Responsible Banking

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Across the 6 principles

1 - Alignment

We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement, and relevant national and regional frameworks.
2 - Impact and Target Setting

We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products, and services. To this end, we will set and publish targets where we can have the most significant impacts.
3 - Clients and Customers

We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
4 - Stakeholders

As investors, practising active ownership, including engagement with the issuers we are invested in, is a key lever of responsible investing. Pictet is actively involved in several collaborative investor engagement initiatives, each of which addresses a specific theme that aligns with our Group Engagement Focus.
5 - Governance and Culture

The Group Stewardship and Sustainability Board (GSSB) is the dedicated body in charge of proposing our ESG, stewardship and sustainability strategy, ensuring the highest standards of sustainability governance within the Group's operational level. It also validates common minimum standards across Pictet.
6 - Transparency and Accountability

We will continue our work towards the transition in 2024 and beyond. While this report provides a single-year snapshot of our decades-long journey, this exercise will reinforce our commitments going forward, giving our clients and other key stakeholders a better understanding of our approach.