1258 GMT - UBS Group says it is operating under various ESG regulatory and disclosure regimes that sometimes conflict with one another. "We are subject to separate, and sometimes conflicting, ESG regulations and regulator expectations in the various jurisdictions in which UBS operates," the Swiss bank says in its annual report. "For example, in certain jurisdictions, we are required to set diversity targets or other ESG-related goals that are considered illegal or contrary to regulatory expectations in other jurisdictions." There is substantial uncertainty with regard to decarbonization mandates and many of the bank's goals are only achievable with a combination of government and private action, UBS says. Shares rise 1.4%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
March 17, 2025 08:58 ET (12:58 GMT)
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