UBS aims to be a leader in sustainability in the financial industry. This requires us to focus on the long term and to work to provide consistent returns to our stakeholders. It also requires us to promote the common good by being proactive, purposeful and accountable. At UBS Asset Management we are committed to acting as responsible investors on our clients' behalf. Across our traditional investment areas, recognizing the growing importance of ESG, we have established a general approach and commitment to addressing environmental, social and corporate governance factors.
Within fixed income, analyst recommendations are centrally stored and shared with portfolio managers globally, and analyst credit recommendations are discussed in regularly scheduled credit committee meetings, in which individual cases are discussed in a centralized manner with portfolio managers globally. ESG recommendations are included as part of the credit analysts' credit research and are also subject to the considerations of and discussions with Sustainable Research team representatives.
By providing integrated recommendations that consider ESG risks and opportunities, UBS avoids portfolio managers being forced to choose between the sustainability and the financial attractiveness of companies when making their stock selections, given that ESG considerations are taken into account in the research recommendations.