Involvement of UBS in the global mining and oil & gas sectors

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Article
1 June 2006

[PDF] Involvement of UBS in the global mining and oil & gas sectors

Author: Jan Willem van Gelder, Profundo (Research paper prepared for Berne Declaration & Greenpeace Switzerland)

This report aims to identify and describe the financing activities undertaken UBS Group in the global mining and oil & gas sectors. Most emphasis is given to the involvement of UBS in financing mining and oil & gas projects and companies which are controversial because of their consequences for the environment, local communities and/or human rights...[Controversial issues include] BTC pipeline in Georgia: BP is the operator of this oil pipeline...Total participates...The pipeline is...depriving local populations of crops and lands...BTC-related human rights abuses have increased. BP officials were alleged to have threatened affected villagers with violence...El Cerrejon Norte in Colombia: The mine is equally owned by the mining companies Anglo American, BHP Billiton and Glencore International. El Cerrejon Norte is described as “a continuing horror story of forced relocations of indigenous people, human rights violations, environmental destruction and other assorted injustices”. [also refers to CNOOC, Gazprom, Lukoil, Medco Energi Internasional, Novatek, Petrobras, Sinopec, Tatneft, TNK-BP, Yukos, Alcan, Alcoa, Alpha Natural Resources, Alrosa, AngloGold Ashanti, Barrick Gold, Energy Resources Australia [part of Rio Tinto], Evraz, Foundation Coal, Newmont Mining, Peabody Energy, Petrochina, ENI, Teikoku Oil]

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Article
13 August 2004

UBS - Corporate Responsibility

Author: UBS

Marcel Ospel, Chairman: "Responsible corporate conduct is integral to the way we do business."...UBS is committed to integrating environmental considerations into all its business activities...UBS has endorsed and signed several international charters for promoting good corporate practices.

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