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By Maitane Sardon
UBS Group AG (UBS) said Monday that it has launched a set of tools and techniques to help investors reach their sustainability and climate-related goals.
The Swiss bank said the "climate-aware framework" will use currently available data to help investors align their portfolios with a low-carbon scenario. Investors will be able to use the tools to mitigate the current climate risks their portfolios are exposed to and to increase their investments in companies that develop green products or services, UBS said.
UBS said barriers to sustainable investing continue to be short-term investment horizons that only capture the short-term climate risks and a lack of standardized sustainability data, although noted investors should be able to allocate their capital in a sustainable way with the data that is available.
"We need to work together to agree on common standards, and to develop solutions and approaches that help investors make climate-smart investments and close the climate finance gap. The time to act on climate is now," said UBS chairman Axel Weber.
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(END) Dow Jones Newswires
January 20, 2020 12:53 ET (17:53 GMT)
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