Our advocacy partnerships
Using our influence to enact change
The Swiss Market
Pictet has a strong commitment to raising awareness in the Swiss market on ESG and sustainability issues, and help make it a strong centre for responsible investing. Our main involvement includes:
Swiss Sustainable Finance
Pictet was a founding member of SSF and co-leads workstreams for the association that promotes the integration of sustainability in the financial industry. In particular, it aims to make Switzerland a leading worldwide centre for sustainable finance.
Pictet is a leading voice in the Building Bridges initiative, notably through its work with Fondation Genève Place Financière and Sustainable Finance Geneva. The movement aims to drive more capital to the SDGs through cross-cutting dialogue throughout the year culminating in a high-level summit and week.
Beyond broad sustainability advocacy, Pictet has a strong commitment to tackling the climate crisis and the broader environmental issues caused by humans.
This is why we have made a dual commitment in 2021 to the Net Zero Asset Managers initiative and the Science-Based Targets initiative to set interim and long-term decarbonisation targets to limit global warming to 1.5°C above pre-industrial levels by 2100.
These commitments are supported by our long-standing membership in Climate Action 100+, a coalition of investors that engage the 167 most emitting companies in the world to help them reduce their GHG emissions – this allows to support the transition for over 80% of global industrial emissions. Within CA100+, we have targeted our efforts by taking a particularly active role in the engagements with Glencore and OMV.
We have been part of the Institutional Investor Group for Climate Change (IIGCC) since 2013. We are also strong supporters of Ceres, a leading environmental NGO in North-America notably around the topic of water. In particular, we are currently using our voice to push for the creation of an investor coalition to engage companies on broader environmental topics, such as adaptation and resilience, biodiversity or water, all of which are inherently interlinked.
Finally, we are members of FAIRR, an investor network focused on ESG risks in the global food sector, in which we have been an active signatory of several investor letters.
Whilst Pictet’s strategic focus has been on environmental issues, partly as a result of our product expertise and of scientific consensus on the global goals, societal issues have nonetheless been important in our advocacy and partnerships.
This is why we spearheaded an industry initiative with SSF to remove controversial weapons manufacturers from mainstream benchmarks and indices in 2019, as they are banned by international conventions and should not be investable. In fact, they have been excluded them from our own investments since 2011.
The initiative closed in May 2021 with the following notable results:
- Benchmark administrators seeking to have their benchmarks labelled as EU Climate Transition or EU Paris-aligned must exclude companies involved in any activities related to controversial weapons.
- Three delegated regulations were published specifying new sustainability-driven disclosure rules for benchmark statements and methodologies, including disclosure on the weighted average percentage of benchmark constituents in the controversial weapons sector (and the source used to define controversial weapons).
- The three European authorities published their final report and draft RTS on disclosures under SFDR, which includes specific clauses on disclosures around controversial weapons investments.
Pictet joined the Access to Nutrition initiative (ATNI) in 2018, an initiative that focuses on developing tools and initiatives that track and drive the contributions made by the 25 largest food & beverage companies to addressing the world’s global nutritional challenges. At Pictet, we leverage ATNI to take an active role in collaborative engagements on the nutritional value of these companies’ products, their commitment to providing affordable nutrition, and the responsibility of their marketing practices.
Pictet is also a member of the UN Global Compact, an organisation calling companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals. This is particularly important as we place a specific focus on engaging with companies that violates on of the UNGC principles.
Finally, Pictet has been steadily improving its diversity and inclusion, notably through the obtention of the EDGE certification, the leading global assessment methodology for gender and intersectional equity. It measures where organisations stand in terms of representation, pay equity, effectiveness of policies & practices to ensure equitable career flows, and inclusiveness of the culture. Efforts to continue improvement in this area are ongoing.
- Pictet signed the IIGCC Global Investor Statement to Governments ahead of COP
- Pictet signed the “Where is the beef” initiative ahead of COP, aimed at G20 nations to promptly enact ambitious policies and disclose effective targets for GHG reductions in agriculture
- Pictet signed 4 engagement letters addressed to EY, KPMG, Deloitte, and PwC to ask them to include net zero considerations in a more systematic way in their audits.
- Pictet participated in the SBTi Principles for Net Zero for FIs consultation paper and workshop, as well as exchanged on the needs and challenges faced by institutions such as Pictet.
- Pictet reviewed and approved the IIGCC consultation response on the PCAF new methodologies for green bonds, sovereign bonds, and avoided emissions
- Pictet gave substantial feedback to the IIGCC consultation on Offsetting Principles
- Pictet joined the UN Global Compact
- Pictet reviewed and approved Swiss Banking’s response to BCBS consultation on the principles for managing and supervising climate-related financial risks
- Pictet signed the FAIRR collective engagement on managing biodiversity and climate risks in aquafeed targeting some of the largest salmon producers
- Pictet signed the FAIRR collective engagement on labour risks in the global meat supply chains
- Pictet became an official supporter of the TNFD