UBS Bankers Under Pressure From Lawyers to Rethink ESG Labels

UBS Group AG is asking its bankers to rethink the way they discuss some sustainable products in public following advice from its lawyers, according to people familiar with the matter.

The development affects the kind of language bankers are free to use when presenting a whole array of topics spanning net-zero goals to individual transactions for clients, the people said asking not to be identified revealing internal deliberations. Specific products such as debt-for-nature swaps are among those affected by the heightened level of legal anxiety, one of the people said.

A spokesperson for UBS declined to comment.

The decision to ...