Sail GP Halifax: The Extreme Race Experience | SaltWire #racing #sailing #catamaranLONDON - UBS will look to increase lending to the shipping sector and run off some loans to fossil fuel clients inherited from Credit Suisse, executives told Reuters, in the biggest test yet of the impact of a mega-merger on banks' sustainability commitments.
"It was the first time to align two major sustainability frameworks, methodologies and programmes together, with all the recalibration, re-baselining, re-analysing everything...it was quite an effort for us." The combined balance sheet of more than $1.6 trillion, nearly twice the size of the Swiss economy, has drawn warnings from regulators about the risk to the country, adding to scrutiny over how UBS plans to manage its lending practices.
UBS is also betting on shipping becoming cleaner and it plans to keep shipping-linked loans inherited from Credit Suisse.