A Responsible Vision a Responsiblepictet Group Vision

PICTET GROUP A RESPONSIBLE VISION A RESPONSIBLEPICTET GROUP VISION

A Responsible Vision II.I. This document is part of four brochures that highlight Pictet’s efforts in environmental, social and governance (ESG) BUILDINGPRINCIPLES RESPONSIBLE IN ACTION: PARTNERSHIPS: OUR PEOPLE issues. The brochures focus on investments for institutionals, philanthropy, wealth management, as well as corporate and OUR AMBITIONS AND BELIEFS environmental initiatives.

A Prix Pictet portfolio This brochure showcases the Pictet Group’s achievements in CORPORATE CULTURE tackling ESG issues. It also features the work of Roman Signer, Human progress and economic development over the last a multiple award-winning Swiss artist and photographer, Our independencecentury has enabled have come us toat investa cost to our natural environment. who was nominated for the 2008 Prix Pictet, with the theme and expand ourPopulation business with growth the long and rising standards of living have of “Water”. term in mind. Itled also to allowsexponential us to pursue demand for energy and other natural a unique approachresources. to recruiting This has and not only caused damage to our The Prix Pictet is the world’s leading award for photography 4,700 Number of people working and sustainability. Launched in 2008, the award draws managing people.biosphere; the Earth’s capacity to regenerate has also been for Pictet at 28 offi ces around global attention to these issues. There have been eight cycles rapidly overstretched. the world. Forty years ago, of the award to date – each of which has highlighted a In 1921, we were one of the fi rst banks in the we employed just 300 people particular facet of sustainability. The photographers are nominated by a worldwide network of experts. world to introduceThe achallenges profi t-sharing we face scheme require an accelerated transition as an incentive to employees.a more resilient All employees and sustainable economy. For the fi nan- are eligible andcial around system, 60% we are believe currently that this calls for a systemic shift The photographer benefi ciaries of thein focusscheme. from By givingexclusively the maximising fi nancial returns Roman Signer was born in 1938 in Appenzell, Switzerland. He is a visual artist who works in sculpture, photography majority of ourto employees embracing a directnew models stake based on solid science, innovative and video. His action sculptures involve setting up, carrying in Pictet’s growthpartnerships and success, and we’ve systematically considering environmen-6.6% out, and recording experiments or events that bear aesthetic aligned employeetal, interests social and with governance those of factors in investmentPictet’s decisions employee turnover, one of the lowest in the fi nancial industry results. Signer’s work has been shown at numerous galleries the Group and itsand owners. active ownership practices. It also means further and museums in Europe, North America and Asia over the last thirty years. developing solutions that redirect capital fl ows to issuers Our employees bestin Switzerland positioned areto tackle also able these challenges. to enjoy the benefi ts of a rigorously managed pension fund, withWe have careful three attention ambitions paid before 2025: to how the fund’s assets are invested at any given time. 21 Pictet In years, the average tenure of our managing partners Pictet is a partnership of seven owner-managers. These characteristics strengthen the notion Its principles of succession and transmission of ownership have remained unchanged since foundation of partnership between employees and the in 1805. It offers only asset management, alternative company, as well as creating a lasting investment solutions and related asset services. The relationship of trust between the company Group does not engage in investment banking, nor and clients. This approach provides stability does it extend commercial loans. 1 2 3 and reinforces the Group’s values and corporate culture. With CHF 576 billion in assets under management To signifi cantly reduce the To fully integrate ESG factors To be a leading provider at 31 December 2019, Pictet is today one of the environmental impact of our and active ownership into of responsible products leading Europe-based independent wealth and asset activities and investments all investment processes and solutions managers. Founded and headquartered in Geneva, Switzerland, Pictet today employs more than 4,700 people. It has 28 offices.

114 A RESPONSIBLEPICTET GROUP VISION

II.I. BUILDINGPRINCIPLES RESPONSIBLE IN ACTION: PARTNERSHIPS: OUR PEOPLE OUR AMBITIONS AND BELIEFS

CORPORATE CULTUREHuman progress and economic development over the last Our independencecentury has enabled have come us toat investa cost to our natural environment. and expand ourPopulation business with growth the long and rising standards of living have term in mind. Itled also to allowsexponential us to pursue demand for energy and other natural a unique approachresources. to recruiting This has and not only caused damage to our4,700 managing people.biosphere; the Earth’s capacity to regenerate hasNumber also been of people working for Pictet at 28 offi ces around rapidly overstretched. the world. Forty years ago, In 1921, we were one of the fi rst banks in the we employed just 300 people world to introduceThe achallenges profi t-sharing we face scheme require an accelerated transition as an incentive to employees.a more resilient All employees and sustainable economy. For the fi nan- are eligible andcial around system, 60% we are believe currently that this calls for a systemic shift benefi ciaries of thein focusscheme. from By givingexclusively the maximising fi nancial returns majority of ourto employees embracing a directnew models stake based on solid science, innovative in Pictet’s growthpartnerships and success, and we’ve systematically considering environmen-6.6% aligned employeetal, interests social and with governance those of factors in investmentPictet’s decisions employee turnover, one of the lowest in the fi nancial industry the Group and itsand owners. active ownership practices. It also means further developing solutions that redirect capital fl ows to issuers Our employees bestin Switzerland positioned areto tackle also able these challenges. to enjoy the benefi ts of a rigorously managed pension fund, withWe have careful three attention ambitions paid before 2025: to how the fund’s assets are invested at any given time. 21 In years, the average tenure of our managing partners These characteristics strengthen the notion of partnership between employees and the company, as well as creating a lasting relationship of trust between the company 1and clients. This approach provides2 stability 3 and reinforces the Group’s values and corporate culture. To signifi cantly reduce the To fully integrate ESG factors To be a leading provider environmental impact of our and active ownership into of responsible products activities and investments all investment processes and solutions

1143 A RESPONSIBLEPICTET GROUP VISION PICTET GROUP

II. PRINCIPLES IN ACTION: OUR PEOPLE

A10 VIRTUOUS LEVERS OF CIRCLE ACTION 3. How we manage our direct environ- CORPORATE CULTURE To achieve these ambitions, we have mental impacts: In our own business Our independence has enabled us to invest identifi ed 10 levers of action for conducting activities we are taking every possible and expand our business with the long our own activities and for managing assetsINDEPENDENCE step to cut our carbon footprint by term in mind. It also allows us to pursue on behalf of our clients. Having no external shareholdersemploying the most advanced building a unique approach to recruiting and means we have the independence 4,700 technology, reviewing every aspect managing people. Number of people working of mind to always act in our clients’ for Pictet at 28 offi ces around How we conduct our activities interests. This in turn benefiof our ts operations and reducing the the world. Forty years ago, Responsibility starts with what weinvestment do with performance.environmental impacts of our infra- In 1921, we were one of the fi rst banks in the we employed just 300 people our own assets. structure and employee mobility. world to introduce a profi t-sharing scheme as an incentive to employees. All employees 1. How we invest our balance sheet: 4. Philanthropy for environmental and are eligible and around 60% are currently This includes our corporate treasury social benefi t: As the ultimate “risk benefi ciaries of the scheme. By giving the

ENTREPRENEURIALas well as seed SPIRIT investments. As we have capital”, philanthropyLONG-TERM can be an THINKING import- majority of our employees a direct stake But thesefull controlprinciples over are our balance sheet, ant part of tackling someWe resist of thethe temptations world’s in Pictet’s growth and success, we’ve 6.6% meaninglesswe have if we committed don’t stay to portfolio decar- most intractable problems.of short-term Through fashion in favour aligned employee interests with those of Pictet’s employee turnover, one of the lowest in the fi nancial industry true tobonisation our entrepreneurial and investing in activitiesBUILDING RESPONSIBLEour initiatives and supportedof long-term, projects, sustainable the Group and its owners. origins. decision-making. that contribute to accelerating thePARTNERSHIPS we seek to stimulate action on environ- transition to a low-carbon economy. mental and social issues. Our employees in Switzerland are also able to enjoy the beneﬁ ts of a rigorously managed 2. Employee engagement to foster respon- 5. Advocacy and partnerships: We strive pension fund, with careful attention paid sibility: Our employees are our most to encourage all our stakeholders and to how the fund’s assets are invested at any crucial asset and a key ampliﬁ er when partners to implement sustainability given time. 21 it comes to sustainability and respon- and responsible investment. We have In years, the average tenure RESPONSIBILITY PARTNERSHIP of our managing partners sible behaviour. We will continue to therefore signed the UN Principles These characteristics strengthen the notion We have a sense of responsibility Pictet is a partnership in engageto both with present our colleaguesand future on sustain- for Responsiblea narrow, legal Investment sense, but also for in all busi- of partnership between employees and the abilitygenerations, topics to and the real encourage economy them to ness lines,a wider including sense, embodying our pension trust, fund, company, as well as creating a lasting be involvedand the in wider local world. actions, especially and committedrespect, inclusion to the and UN diversity. Principles relationship of trust between the company where we have a strong presence. for Responsible Banking. and clients. This approach provides stability and reinforces the Group’s values and corporate culture.

1045 11 PICTET GROUP A RESPONSIBLEPICTET GROUP VISION

II. PRINCIPLES IN ACTION: OUR PEOPLE

10 LEVERS OF ACTION 3. How we manage our direct environ- HowCORPORATE we manage CULTURE client assets capacity or willingness to adopt To achieve these ambitions, we have mental impacts: In our own business OurOur biggestindependence impact haslies enabledin what uswe to choose invest generally accepted standards of best identifi ed 10 levers of action for conducting activities we are taking every possible toand do expand when managing our business assets with on the behalf long practice, we may choose to sell our own activities and for managing assets step to cut our carbon footprint by ofterm clients. in mind. It also allows us to pursue the investment. on behalf of our clients. employing the most advanced building a unique approach to recruiting and 4,700 technology, reviewing every aspect 6.managing Sustainable people. products and solutions: 9. Client engagement:Number of Where people workingrelevant for Pictet at 28 offi ces around How we conduct our activities of our operations and reducing the We will continue to develop investment data are available,the world. we Forty will years strengthen ago, Responsibility starts with what we do with environmental impacts of our infra- In 1921,strategies we were that one provide of the capitalfi rst banks to in the reporting onwe the employed ESG characteristics just 300 people our own assets. structure and employee mobility. worldcompanies to introduce which a profihelp t-sharingto make a schemepositive of client portfolios and the impact as animpact incentive on society to employees. or the environment, All employees of active ownership activities. Where 1. How we invest our balance sheet: 4. Philanthropy for environmental and are aseligible well as and to thosearound that 60% have are acurrently plan data are missing, we will encourage This includes our corporate treasury social benefi t: As the ultimate “risk benefito ciariessuccessfully of the scheme.mitigate By the giving negative the issuers to report according to interna- as well as seed investments. As we have capital”, philanthropy can be an import- majorityexternalities of our employees of their products, a direct services,stake tional standards. full control over our balance sheet, ant part of tackling some of the world’s in Pictet’soperations growth and and supply success, chain. we’ve 6.6% we have committed to portfolio decar- most intractable problems. Through aligned employee interests with those of 10. Thought-leadershipPictet’s employee and research turnover, on one of the lowest in the fi nancial industry bonisation and investing in activities our initiatives and supported projects, 7.the ESGGroup integration and its owners. into investment sustainability: We will use our substan- that contribute to accelerating the we seek to stimulate action on environ- processes and risk management: Across tial experience across key environmental transition to a low-carbon economy. mental and social issues. Ourresearch, employees investment in Switzerland decisions, are also risk able and social themes to publish targeted to enjoymanagement the benefi and ts of advisory a rigorously services, managed research and help raise awareness 2. Employee engagement to foster respon- 5. Advocacy and partnerships: We strive pensionwe will fund, continue with careful to boost attention the integration paid and capital for a sustainable transition. sibility: Our employees are our most to encourage all our stakeholders and to howof material the fund’s and assets emerging are invested environmen- at any crucial asset and a key amplifi er when partners to implement sustainability givental, time. social and governance factors in We are convinced21 that these 10 levers it comes to sustainability and respon- and responsible investment. We have our evaluation of corporate and sover- of action will makeIn years, us better the average investors tenure and of our managing partners sible behaviour. We will continue to therefore signed the UN Principles Theseeign characteristics issuers. strengthen the notion corporate citizens and help us play our engage with our colleagues on sustain- for Responsible Investment for all busi- of partnership between employees and the part in designing a thriving system for future ability topics and encourage them to ness lines, including our pension fund, 8.company, Active asownership: well as creating We will a lastingstrive to generations. Ultimately, they align us with be involved in local actions, especially and committed to the UN Principles relationshipengage with of trust issuers between that fall the short company of our purpose: where we have a strong presence. for Responsible Banking. andour clients. expectations This approach – either provides directly stability andor reinforces through thecollaborations Group’s values with and other “To protect, grow and transmit wealth, corporateinvestors. culture. Where necessary, we will in every sense, by building responsible escalate to Board representatives, vote partnerships with our clients, colleagues, against management or support share- communities and the companies in which holder resolutions. Depending on the we invest.” severity of the concern and the issuers’

5 1165 Precisely calculating the desired event, Roman Signer prepares installations that paradoxically end up escaping from his control in order to produce their effects. The accident that occurs or seems about to occur gives us the fleeting feeling that the existence of things is irreversibly swept away by the flow of time, and that to try to hold it back can be nothing more than an illusion.

Roman Signer Tisch Iceland 1994 A RESPONSIBLE VISION PICTET GROUP

II. PRINCIPLES IN ACTION: OUR PEOPLE

A VIRTUOUS CIRCLE CORPORATE CULTURE Our independence has enabled us to invest and expand our business with the long INDEPENDENCE term in mind. It also allows us to pursue Having no external shareholders a unique approach to recruiting and means we have the independence 4,700 managing people. Number of people working of mind to always act in our clients’ for Pictet at 28 offi ces around interests. This in turn benefi ts the world. Forty years ago, investment performance. In 1921, we were one of the fi rst banks in the we employed just 300 people world to introduce a profi t-sharing scheme as an incentive to employees. All employees are eligible and around 60% are currently benefi ciaries of the scheme. By giving the

ENTREPRENEURIAL SPIRIT LONG-TERM THINKING majority of our employees a direct stake But these principles are We resist the temptations in Pictet’s growth and success, we’ve 6.6% meaningless if we don’t stay of short-term fashion in favour aligned employee interests with those of Pictet’s employee turnover, one of the lowest in the fi nancial industry true to our entrepreneurial BUILDING RESPONSIBLE of long-term, sustainable the Group and its owners. origins. decision-making. PARTNERSHIPS Our employees in Switzerland are also able to enjoy the beneﬁ ts of a rigorously managed pension fund, with careful attention paid to how the fund’s assets are invested at any given time. 21 In years, the average tenure RESPONSIBILITY PARTNERSHIP of our managing partners These characteristics strengthen the notion We have a sense of responsibility Pictet is a partnership in to both present and future a narrow, legal sense, but also in of partnership between employees and the generations, to the real economy a wider sense, embodying trust, company, as well as creating a lasting and the wider world. respect, inclusion and diversity. relationship of trust between the company and clients. This approach provides stability and reinforces the Group’s values and corporate culture.

108 11 PICTET GROUP

II. PRINCIPLES IN ACTION: OUR PEOPLE

CORPORATE CULTURE Our independence has enabled us to invest and expand our business with the long term in mind. It also allows us to pursue a unique approach to recruiting and 4,700 managing people. Number of people working for Pictet at 28 offi ces around the world. Forty years ago, In 1921, we were one of the fi rst banks in the we employed just 300 people world to introduce a profi t-sharing scheme as an incentive to employees. All employees are eligible and around 60% are currently benefi ciaries of the scheme. By giving the majority of our employees a direct stake in Pictet’s growth and success, we’ve 6.6% aligned employee interests with those of Pictet’s employee turnover, one of the lowest in the fi nancial industry the Group and its owners.

Our employees in Switzerland are also able to enjoy the beneﬁ ts of a rigorously managed pension fund, with careful attention paid to how the fund’s assets are invested at any given time. 21 In years, the average tenure of our managing partners These characteristics strengthen the notion of partnership between employees and the company, as well as creating a lasting relationship of trust between the company and clients. This approach provides stability and reinforces the Group’s values and corporate culture.

119 PICTET GROUP

FOSTERING EMPLOYEE WELL-BEING DEVELOPING COLLECTIVE INTELLIGENCE: How is the club doing today? Various initiatives enable our employees THREE BEEHIVES AND 50,000 BEES CC: We now have 25 members (with many to share and pass on their expertise. In April 2018, Pictet employees installed more on the waiting list) – most of them three beehives on the roof of the Geneva without any experience in beekeeping. Diversity & Inclusion headquarters. This also coincided with From March to October we meet once We are committed to fostering a diverse the launch of the Beekeeping Club, which a week to watch the beehives and make and inclusive culture. In 2019, Pictet is 100% managed by Pictet employees. sure that the bee colonies are doing well. was awarded EDGE level 1 certifi cation after Some of the members are even considering 1,700Respondents to the EDGE a third-party evaluation that recognised Cyril Camilleri, Senior Investment Manager having their own apiaries at home, which our eff orts in building a gender-balanced level 1 survey at Pictet Asset Management, who is also re- will then multiply the positive eff ect of talent pipeline. We also ensure equal pay sponsible for the Beekeeping Club, explains reintroducing bees. and equitable career fl ows, and have put in the challenges linked to the project. place an eff ective framework of policies What impact have you had so far? and practices to achieve an inclusive culture. Why beekeeping at a bank? CC: The club immediately generated a lot Cyril Camilleri: To create our own apiary, of interest among our colleagues. As a result, Flexible and modern ways of working but without external help. The project there is growing awareness of the importance As a responsible and supportive employer, is primarily educational: we want our em- of pollinators for the preservation of we off er employees several fl exible working ployees to be aware of the issues linked biodiversity and that managing a beehive arrangements that are open to men and to the loss of biodiversity and the decline is anything but a passive activity. In my eyes, women. These include fl exible hours, work- 20Number of paternity leave days in the number of pollinating insects. this is a concrete illustration of why taking ing from home and annualised part-time for new fathers at all our offi ces Setting up the club was part of a larger the long-term view always matters. And this or unpaid leave; and since January 2020 thought process at Pictet, aimed at raising principle applies equally to the way we new fathers have been entitled to 20 days’ awareness of environmental and sustain- manage our investments and to the preser- paternity leave. ability issues within the company. vation of our planet.

Employee restaurants With a focus on healthy food and sustainable supply chains, our restaurants also support local farmers and strive for near-zero food waste. These restaurants provide a place for 98%Satisfaction rate for our staff people to meet, relax and exchange thoughts restaurant in Geneva and ideas.

13 PICTET GROUP

DEVELOPING COLLECTIVE INTELLIGENCE: How is the club doing today? THREE BEEHIVES AND 50,000 BEES CC: We now have 25 members (with many In April 2018, Pictet employees installed more on the waiting list) – most of them three beehives on the roof of the Geneva without any experience in beekeeping. headquarters. This also coincided with From March to October we meet once the launch of the Beekeeping Club, which a week to watch the beehives and make is 100% managed by Pictet employees. sure that the bee colonies are doing well. Some of the members are even considering Cyril Camilleri, Senior Investment Manager having their own apiaries at home, which at Pictet Asset Management, who is also re- will then multiply the positive eff ect of sponsible for the Beekeeping Club, explains reintroducing bees. the challenges linked to the project. What impact have you had so far? Why beekeeping at a bank? CC: The club immediately generated a lot Cyril Camilleri: To create our own apiary, of interest among our colleagues. As a result, but without external help. The project there is growing awareness of the importance is primarily educational: we want our em- of pollinators for the preservation of ployees to be aware of the issues linked biodiversity and that managing a beehive to the loss of biodiversity and the decline is anything but a passive activity. In my eyes, in the number of pollinating insects. this is a concrete illustration of why taking Setting up the club was part of a larger the long-term view always matters. And this thought process at Pictet, aimed at raising principle applies equally to the way we awareness of environmental and sustain- manage our investments and to the preser- ability issues within the company. vation of our planet.

1311 BUILDING EMPLOYEE AWARENESS AND FOSTERING ACTION

“Responsibility means a long-term, To support our environmental eff orts, we organise internal events like “Sustainability partnership approach. It’s not just Week”. The event, which launched in 2016, aims to inﬂ uence employees and raise their 20Talks given by sustainability being responsible and showing awareness in order to foster sustainability. experts, such as André Borschberg (Solar Impulse pilot) Employees around the world are able to integrity towards the present and Peter Bakker (CEO, World follow talks given by internal and external Business Council for Sustainable generation, but also towards future experts. They can also learn about local ﬂ o- Development) ra and fauna, take part in e-bike excursions generations, the real economy and visit the installations used to reduce Pictet’s carbon footprint and generate our and the wider world.” own clean energy.

Blood doning Blood donations save lives but only 2.5% of the Swiss population give blood regularly. Pictet has therefore been encouraging its employees to do so since 2007. 454Number of Pictet employees RENAUD DE PLANTA Volunteering programme for employees who gave blood in 2019 Senior Partner Through this programme, our employees can take part in social or environmental projects. The activities include lake cleaning or mentoring unemployed people. BUILDING EMPLOYEE AWARENESS AND FOSTERING ACTION

Roman Signer’s favourite playing fields are nature, time and space, while objects making up the banal form the core of his “actions-sculptures”. Yet despite the obviousness and simplicity of his interventions, confining him to one or another category of art is no easy task. His work is indeed part and parcel of the genealogy of Land Art, with his short-lived actions taking place out in the middle of natural landscapes.

Roman Signer Ski River Sitter, Switzerland 2000 A RESPONSIBLE VISION

III. PRINCIPLES IN ACTION: ENVIRONMENTAL STEWARDSHIP

Our environmental approach is driven was set at the time to reduce the average by the understanding that our activities carbon footprint per employee by 40% have an impact on the environment by 2020. Reducing our footprint further, and that we have an obligation to reduce especially in absolute terms given our this impact wherever possible. Because growth, will require stronger ambitions you can only change what you measure, regarding our infrastructure, mobility we began to calculate the Group’s CO2 and consumption as a ﬁ rm. emissions in 2007. An ambitious objective

THREE MAIN PILLARS 1 2 3

Use an eﬃ cient infrastructure Support green mobility Optimise our consumption

1816 PICTET GROUP

1. INFRASTRUCTURE

We built our Geneva headquarters in 2006 SOURCES OF CO2 EMISSIONS with sustainability in mind. At the time – OF THE PICTET GROUP IN 2019 a full nine years before the Paris Agreement of 2015 – this kind of consideration was still rare. 4% Waste and paper

Total*

10,993 tCO2

30% Energy 66% consumption Business travel

REDUCTION OF CO2 PER EMPLOYEE BETWEEN 2007 AND 2019*

Tons of

CO2 per employee Reduction targets 3.5 3.00 3.0 2.77 2.59 2.32 2.33 2.5 2.31 2.23 2.12 2.23 2.04 1.97 1.97 1.89* 2.0 1.81

1.5

1.0

0.5

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

* Calculated with 2018 data where 2019 are not yet available

1917 A RESPONSIBLE VISION

ENERGY EFFICIENCY IN 2019 We’ve employed a range of solutions to increase the energy effi ciency of Pictet’s head offi ce in Geneva. The three main installations – a solar air conditioning plant, a heat transfer plant and photovoltaic panels – enable us to avoid using fossil fuels and prevent CO2 emissions, and also to produce clean electricity. Thanks to these three installations, the

Pictet Group avoided 295 tons in CO2 emissions in 2019.

42,703 103,597 in kWh of produced energy, number of litres of fuel oil saved the equivalent of recharging thanks to the heat transfer system 470 electric cars between our Geneva buildings

600 m2 958 Size of the solar air conditioning In kilogrammes, CO2 emission per plant on the roof of Pictet’s employee at Pictet’s Paris oﬃ ce – headquarters in Geneva the Group’s lowest carbon footprint

2018 PICTET GROUP

2. MOBILITY

PROMOTING VIDEO CONFERENCING AS AN ALTERNATIVE TO BUSINESS TRAVEL The purpose of business travel is to connect with colleagues and clients. While nothing 450% replaces physical meetings, we encourage Rise in the number of video conferences between 2010 the use of video conferencing. In total, and 2019 290 video conferencing facilities have been installed across the Pictet Group. Between 2010 and 2019, the number of video conferences has risen drastically. 70,000 In tonnes, amount of carbon off set between 2014 and 2020 through the funding of clean-energy projects, allowing Pictet to already achieve its carbon neutrality target

VIDEO CONFERENCES ON THE RISE

Hours 78,184 72,300 70,000 63,912

60,000 52,255 50,000 41,111 40,000 29,365 30,000 24,167

20,000 16,182

10,000

2012 2013 2014 2015 2016 2017 2018 2019

2119 A RESPONSIBLE VISION PICTET GROUP

3. CONSUMPTION

who give up their parking spot metres, saving 25,3 tonnes of CO2. The Gregory Simonnin, senior consultant collection. We helped Pictet identify the partnership also has a positive social im- at Quantis – a sustainable development countries in which plastic leakage is a big • A partnership with Genève Roule, pact, as three or four jobs are created during consultancy that assisted Pictet through challenge. In these countries, a drastic a local association that provides the rental period, mainly for long-term this process – explains how companies deal reduction in single-use items, particularly electric bikes unemployed people and refugees. with plastic waste. plastic, is required.

Daniel Suda Lang, director of Genève What are the beneﬁ ts of such What advice did you give Pictet to reduce Have you noticed a change in the Roule, gives more details about a campaign? their plastic waste? awareness of companies about waste the association’s partnership with Pictet. DSL: As our urban environments become Gregory Simonnin: Pictet approached management? increasingly dense, we need to diversify our Quantis at the end of 2018 with a very GS: We’ve seen increased interest in waste For the past four years, Genève Roule means of transportation. Bikes are a healthy detailed inventory of all the plastic objects management, and more particularly has provided Pictet employees with way of getting around, but also a clean used daily within the Group. Together, of plastics, over the past couple of years. electric bikes. What’s the purpose one. Our aim is to encourage employees to we developed strategies to integrate the We also exchange with several peers in of this partnership? reconsider the way they commute in the use of plastics with a more sustainable Geneva to share best practices in this “Cut Daniel Suda Lang: It’s to show Pictet long term. approach. While it is important to reduce the plastic” campaign. This topic concerns employees the advantages of cycling, the use of plastic as much as possible, our almost all the sectors we work in, from food whether for short journeys or to get to work This is also why we encourage employees role is to ensure that the alternative options producers, to cosmetics or sports events. every day. As part of the partnership, we who wish to buy an e-bike at the end of are not even worse for the environment. have a bike rental station in the courtyard each season. For example, replacing plastic packaging

2220 23 A RESPONSIBLE VISION PICTET GROUP

3. CONSUMPTION

PROMOTING SOFT MOBILITY of the Geneva head offi ce from March UNDERSTANDING AND MANAGING WASTE used for food might not necessarily be We encourage our employees to prioritise to November. Pictet employees can use one In our quest to minimise the direct impact positive if it leads to an increase in food soft mobility solutions for commuting of these bikes free of charge during lunch of our business, and that of our employees, waste. That’s why we advocate an approach to and from work. breaks, evenings or even weekends. we also launched in 2018 a landmark that avoids single use. campaign to cut our single-use plastic con- There are various beneﬁ ts available Would you consider this initiative sumption. We identiﬁ ed two main sources What are Pictet’s main challenges in to employees at our Geneva head offi ce: a success? of plastic waste – our employee restaurants reducing waste? DSL: Since the launch, we’ve seen real and supply offi ces – and put in place more GS: Pictet has branches all over the world. • Free recharging stations for electric enthusiasm for this project. In 2019, sustainable alternatives. Thanks to this Waste treatment varies enormously from bikes and cars 7,052 e-bikes were borrowed at the Geneva initiative, the Pictet Group reduced use of one country to another, but the basic head offi ce, a 28% increase on 2018. These disposable plastic by 90% in just 12 months. concept is that plastic waste must not be • Free public transport for employees bikes covered a total distance of 45,207 kilo- allowed to enter the environment after who give up their parking spot metres, saving 25,3 tonnes of CO2. The Gregory Simonnin, senior consultant collection. We helped Pictet identify the partnership also has a positive social im- at Quantis – a sustainable development countries in which plastic leakage is a big • A partnership with Genève Roule, pact, as three or four jobs are created during consultancy that assisted Pictet through challenge. In these countries, a drastic a local association that provides the rental period, mainly for long-term this process – explains how companies deal reduction in single-use items, particularly electric bikes unemployed people and refugees. with plastic waste. plastic, is required.

22 2321 The artist’s actions play out in three distinct timeframes: the preparation beforehand, the action strictly speaking, and finally the result of that act. Through that action Signer reveals aspects of the surrounding world which we pay little attention to, like the weight of snow or the force of a waterfall, while mirroring the insignificance of our own daily activities, so quickly gone, and the emptiness of our aspirations to dominate the world.

Roman Signer Kajak (Kayak) Rhine Valley, Switzerland 1988 A RESPONSIBLE VISION PICTET GROUP

IV. COMMITMENTS TO THE BROADER SOCIETY

PHILANTHROPY AND THE ARTS ADVOCACY FOR SUSTAINABILITY in Switzerland. The Foundation helps to As a responsible actor, we are involved in AND RESPONSIBLE INVESTING fund small and medium enterprises societal action through numerous initiatives. Through a range of memberships and (SME) that take active steps to reduce CO2 strategic partnerships, Pictet aims to emissions and provides support for research Prix Pictet 4,700 demonstrate leadership in responsible and development into technologies Founded in 2008 by Pictet, the Prix Pictet Number of artists nominated investment, encouraging the fi nancial and products in the fi eld of environmental for the Prix Pictet since 2008 has become the world’s leading award industry and industry in general to follow protection. Through the foundation, for photography and sustainability. To date, its example. Pictet is able to reallocate funds to climate there have been eight cycles of the award, projects, based on its convictions. each of which has highlighted a particular UN Principles for Responsible $ facet of sustainability. The eight themes Investment Our stance on controversial weapons are Water, Earth, Growth, Power, Consumption, Launched in 2006, the UN Principles for Since 2011, the Pictet Group has enforced a Disorder, Space and Hope. $42 Responsible Investment (UNPRI) relate strict exclusion policy on companies involved to ESG factors, and provide a global standard in controversial weapons across all its actively Philanthropy/Charity Foundation million for responsible investing. Pictet signed managed strategies. Such weapons may Established in 2009, the Pictet Group Amount of fi nancial support the principles in 2007. Today, almost 2,000 cause indiscriminate or disproportionate for charitable projects since 2009 Charitable Foundation provides fi nancial signatories from over 50 countries accept harm and their use is banned or restricted support to charitable organisations the UNPRI. under international conventions. and public-interest projects, both in Switzerland and abroad. Principles for Responsible Banking As part of this commitment, Pictet is In 2019, the Pictet Group also signed the spearheading a collaborative initiative UN Principles for Responsible Banking. with Swiss Sustainable Finance (where 200 we have a seat on the Board), with the aim Number of Pictet employees Swiss Climate Foundation of removing controversial weapons worldwide who gave their time to help the community in 2019 In 2008, Pictet was among the founding manufacturers from mainstream indices members of the Swiss Climate Foundation, and benchmarks. a non-profi t foundation that directly champions the cause of climate protection

2624 27 PICTET GROUP

ADVOCACY FOR SUSTAINABILITY in Switzerland. The Foundation helps to AND RESPONSIBLE INVESTING fund small and medium enterprises

Through a range of memberships and (SME) that take active steps to reduce CO2 strategic partnerships, Pictet aims to emissions and provides support for research demonstrate leadership in responsible and development into technologies investment, encouraging the ﬁ nancial and products in the ﬁ eld of environmental industry and industry in general to follow protection. Through the foundation, its example. Pictet is able to reallocate funds to climate projects, based on its convictions. UN Principles for Responsible Investment Our stance on controversial weapons Launched in 2006, the UN Principles for Since 2011, the Pictet Group has enforced a Responsible Investment (UNPRI) relate strict exclusion policy on companies involved to ESG factors, and provide a global standard in controversial weapons across all its actively for responsible investing. Pictet signed managed strategies. Such weapons may the principles in 2007. Today, almost 2,000 cause indiscriminate or disproportionate signatories from over 50 countries accept harm and their use is banned or restricted the UNPRI. under international conventions.

Principles for Responsible Banking As part of this commitment, Pictet is In 2019, the Pictet Group also signed the spearheading a collaborative initiative UN Principles for Responsible Banking. with Swiss Sustainable Finance (where we have a seat on the Board), with the aim Swiss Climate Foundation of removing controversial weapons In 2008, Pictet was among the founding manufacturers from mainstream indices members of the Swiss Climate Foundation, and benchmarks. a non-proﬁ t foundation that directly champions the cause of climate protection

2725 PICTET GROUP MILESTONES

1945 1950 1955 1960 1965 1970 1975 1980

1805 1967 Pictet founded in Geneva, Switzerland’s first originally as de Candolle, independent investment Mallet & Cie foundation

PICTET’S PICTET’S ACTIVITIES ACTIVITIES

1921 Launch of a proﬁt-sharing plan for employees

1949 1963 Adoption of the Geneva Introduction of the Equal Pay Convention to regulate Act in the US, prohibiting the conduct in armed wage discrimination between conﬂicts men and women

GLOBAL GLOBAL EVENTS EVENTS

1972 Publication of The Limits to growth, predicting the collapse of civilisation due to growing population and declining natural resources

1945 1950 1955 1960 1965 1970 1975 1980 PICTET GROUP MILESTONES

1985 1990 1995 2000 2005 2010 2015 2020

1990s 2000 2007 2014 2020 Launch of strategies Launch of the Pictet Asset Management Founding member Pictet cuts its balance- incorporating Water fund signs the UN Principles of Swiss Sustainable sheet exposure to sustainable criteria for Resposnible Investment Finance (SSF) fossil fuel producers (PRI) and extractors

PICTET’S PICTET’S ACTIVITIES ACTIVITIES

2008 2018 Launch of Open letter to index the Prix Pictet providers on controversial weapons (in collaboration 2009 with SSF) Creation of the Pictet Group Charitable Foundation

1987 1997 Publication of the Adoption of the Bruntland Report, Kyoto Protocol which deﬁned sustainable development

GLOBAL GLOBAL EVENTS EVENTS 2015 2006 Paris Climate Agreement Principles for negotiated by 196 states, with the Responsible long-term goal of keeping the Investment (PRI) rise in global average launched temperature below 2 degrees

1985 1990 1995 2000 2005 2010 2015 2020 group.pictet also on LinkedIn Twitter Instagram YouTube

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Sources All data taken from Pictet Group.

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