Business Standard

UBS is buying Credit Suisse's greenhouse emissions burden too: Report

Just as UBS is sorting through Credit Suisse's assets, properties and personnel, it's also taking on its former rival's carbon emissions

Credit Suisse-UBS

Photo: Bloomberg

By Alastair Marsh

During the final week that Credit Suisse Group AG existed as an independent entity, its chairman and chief executive took some time to pen remarks for the embattled bank’s sustainability report.

Axel Lehmann and Ulrich Körner provided their expectations for what Credit Suisse would look like in 2050. It would be—in their words—a cleaner, greener, more sustainable bank after having traversed the choppy waters of the energy transition and eliminated carbon emissions from its operations and financing activities.

As we now know, the Swiss lender, its leaders and their vision proved anything but sustainable. Indeed, now that

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First Published: Mar 22 2023 | 9:27 PM IST

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