Principles for Responsible Banking

We will align our business strategy to be consistent with and contribute toindividuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement, and relevant national and regional frameworks.

We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products, and services. To this end, we will set and publish targets where we can have the most significant impacts.

Following last year’s report, our engagement with clients in the journey towards responsible investing focuses on awareness through:

• Collecting clients’ sustainability preferences
• Investment solutions
• Extra-financial reporting
• Communication

As investors, practising active ownership, including engagement with the issuers we are invested in, is a key lever of responsible investing. Pictet is actively involved in several collaborative investor engagement initiatives, each of which addresses a specific theme that aligns with our Group Engagement Focus.

The Group Stewardship & Sustainability Board (GSSB) is the governing body for Group ESG & Stewardship. It oversees and tracks Group and business lines’ alignment and progress against our 2025 ambitions and the 10 levers of action outlined in our Responsible Vision, which was approved by our Partners in 2020.

The Pictet Group has set up a dedicated working group to assess the contribution to the energy transition of companies operating in sectors with the highest climate impact. The conclusions of this working group will determine our expectations for those companies, including the exclusion framework. This year we aim to provide further transparency on investments to indicate whether they can be considered as supporting a sustainable economy.