UBS Asesores is a regulated entity and it is subject to the supervision of the Mexican Banking and Securities Commission ("CNBV"), which exclusively regulates UBS Asesores regarding the rendering of portfolio management, as well as on securities investment advisory services, analysis and issuance of individual investment recommendations, so that the CNBV has no surveillance faculties nor may have over any other service provided by UBS Asesores. Il destinatario non deve contattare gli analisti o lentit UBS Offshore che hanno allestito il presente documento per richiedere la loro consulenza, in quanto non sono autorizzati a fornire consulenza dinvestimento in titoli in Cina. 0000025554 00000 n We work hard to make better product through the use of Recycled, Organic or Renewable (ROR) Product Features and Technologies. O UBS Europe SE, Sweden Bankfilial est sujeito superviso conjunta do Banco Central Europeu (BCE), do Banco Central Alemo (Deutsche Bundesbank), da Autoridade Alem Federal de Superviso de Servios Financeiros (Bundesanstalt fr Finanzdienstleistungsaufsicht) e da autoridade de superviso financeira sueca (Finansinspektionen), aos quais a presente publicao no foi encaminhada para fins de aprovao. Les prvisions de placement de lUBS Chief Investment Office (CIO) sont prpares et publies par l'activit Global Wealth Management dUBS Switzerland AG (assujettie la surveillance de la FINMA en Suisse ou ses entreprises associes (UBS). Text TBL999 to 89887 to opt in to receive text message alerts on our latest product news, events, and updates. UBS Europe SE, Sucursal en Espaa es una sucursal de UBS Europe SE, una entidad crediticia constituida conforme a la legislacin alemana como Societas Europaea debidamente autorizada por el BCE. GDB GdSfAd!Bt/8. French: (Veuillez lire la mise en garde et les divulgations d'informations la fin de ce document.). Within the past 12 months, UBS AG, its affiliates or subsidiaries may have received compensation for non-investment banking securities-related services and/or non-securities services from the subject Indian company/companies. Les opinions de placement ont t prpares conformment aux dispositions lgales conues pour favoriser lindpendance de la recherche financire. distribuda apenas para fins informativos a clientes do UBS Brasil Administradora de Valores Mobilirios Ltda. Pede-se gentilmente que os clientes do UBS AG Singapore Branch entrem em contato com essa instituio, que atua como assessoria financeira imparcial nos termos definidos pela Lei de Assessoria Financeira em Singapura (art. Tel: +912261556000. UBS und ihre Direktoren oder Mitarbeiter knnten berechtigt sein, jederzeit Long- oder Short-Positionen in hierin erwhnten Anlageinstrumenten zu halten, in ihrer Eigenschaft als Auftraggeber oder Mandatstrger Transaktionen mit relevanten Anlageinstrumenten auszufhren oder fr den Emittenten beziehungsweise eine mit diesem Emittenten wirtschaftlich oder finanziell verbundene Gesellschaft bzw. La negociacin con futuros y opciones no es adecuada para todos los inversores y existe un riesgo sustancial de prdida, y algunas prdidas pueden superar la inversin inicial. UBS Europe SE, Denmark Branch, Filial af UBS Europe SE unterliegt der gemeinsamen Aufsicht der Europischen Zentralbank (EZB), der Deutschen Bundesbank, der deutschen Bundesanstalt fr Finanzdienstleistungsaufsicht und der dnischen Finanzaufsicht (Finanstilsynet), der dieses Dokument nicht zur Genehmigung vorgelegt wurde. Detalhes sobre a abrangncia da regulamentao pela Autoridade de Regulao Prudencial esto disponveis conosco mediante solicitao. Usted recibe esta publicacin o material de UBS porque ha indicado a UBS Asesores que usted es un Inversor Cualificado Sofisticado que reside en Mxico. UBS (France) S.A. un fornitore di servizi dinvestimento debitamente autorizzato ai sensi del Code Montaire et Financier e regolamentato dalle autorit bancarie e finanziarie francesi come lAutorit de Contrle Prudentiel et de Rsolution. opens in new window. Francia: esta publicacin es distribuida por UBS (France) S.A., una "socit anonyme" francesa, con un capital social de 132.975.556 , y domicilio social en 69, boulevard Haussmann F-75008 Pars, inscrita en el Registro mercantil de Pars con el n. B 421 255 670, para sus clientes actuales y potenciales. J. G. Dees argues that social entrepreneurship is the result and the creation of an especially creative and innovative leader.[9]. Repubblica Ceca: UBS non una banca autorizzata nella Repubblica Ceca e pertanto non le consentito fornire servizi bancari o dinvestimento regolamentati nella Repubblica Ceca. Luxemburgo: esta publicacin no est destinada a constituir una oferta pblica conforme a la legislacin de Luxemburgo. 31-. All definitions of institutions generally entail that there is a level of persistence and continuity. 28006, Madrid. Yunus was the founder of Grameen Bank, which pioneered the concept of microcredit for supporting innovators in multiple developing countries in Asia, Africa, and Latin America. Their stories show the world what is possible. UBS Europe SE, Denmark Branch, filial af UBS Europe SE (), (Deutsche Bundesbank), (Bundesanstalt fr Finanzdienstleistungsaufsicht) (Finanstilsynet), . Social norms can both be informal understandings that govern the behavior of members of a society, as well as be codified into rules and laws. Return to the home page. These enterprises build on the community's culture and capital (e.g., volunteer resources, financing, in-kind donations, etc.) HTML Editor Component *Contents may not have visible height. [20] In their book The Power of Unreasonable People, John Elkington and Pamela Hartigan identify why social entrepreneurs are, as they put it, unreasonable. UBS UBS. : UBS Wealth Management Canada UBS Investment Management Canada Inc. : UBS Switzerland AG ( UBS) , . The terms social entrepreneur and social entrepreneurship were used first in the literature in 1953 by H. Bowen in his book Social Responsibilities of the Businessman. Danimarca: la presente pubblicazione non deve essere intesa come unofferta pubblica ai sensi del diritto danese. / : / UBS / () . (1997). Weitere Informationen sind auf Anfrage erhltlich. Equally, narrowing gender-based education gaps and ensuring women remain in and expand their Password requirements: 6 to 30 characters long; ASCII characters only (characters found on a standard US keyboard); must contain at least 4 different symbols; Please consult the sales restrictions relating to the products or services in question for further information. The lack of eager investors leads to the second problem in social entrepreneurship: the pay gap. Espanha: Esta publicao no destinada a constituir uma oferta pblica sob a legislao espanhola. Dieses Material darf ohne vorherige Einwilligung von UBS nicht reproduziert werden. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. vietata la riproduzione o la distribuzione di copie di questo materiale senza la preventiva autorizzazione di UBS. . - - . Dienstleistungen, die ausserhalb von Jersey erbracht werden, werden nicht von der Aufsichtsbehrde von Jersey erfasst. In Israel, UBS Switzerland AG is registered as Foreign Dealer in cooperation with UBS Wealth Management Israel Ltd., a wholly owned UBS subsidiary. distribuda apenas para fins informativos aos clientes do UBS Europe SE, Niederlassung sterreich, sediado em Wchtergasse 1, A-1010 Wien. Qualora abbia ricevuto il materiale per errore, UBS la invita a distruggerlo/cancellarlo e informarne immediatamente UBS. For-profit entrepreneurs typically measure performance using This page may have been moved, deleted, or is otherwise unavailable. Social impact measures whether the idea itself will be able to cause change after the original founder is gone. Neither UBS Financial Services Inc. nor any of its employees provide tax or legal advice. Au Royaume-Uni, UBS AG est autorise par la Prudential Regulation Authority et est soumise la rglementation de la Financial Conduct Authority et la rglementation limite de la Prudential Regulation Authority. O UBS Europe SE, Niederlassung sterreich est sujeito superviso conjunta do Banco Central Europeu (BCE), do Banco Central Alemo (Deutsche Bundesbank), da Autoridade Alem Federal de Superviso de Servios Financeiros (Bundesanstalt fr Finanzdienstleistungsaufsicht) e da Autoridade Austraca do Mercado Financeiro (Finanzmarktaufsicht), aos quais a presente publicao no foi encaminhada para fins de aprovao. Questo materiale destinato alla distribuzione solo secondo le circostanze permesse dal diritto applicabile. Para obter informaes sobre como o CIO administra conflitos e mantm a independncia de suas vises de investimento e publicaes e sobre as metodologias de pesquisa e classificao, visite o site www.ubs.com/research. UBS Europe SE, Sucursal en Espaa una filiale di UBS Europe SE, un istituto di credito costituito ai sensi del diritto tedesco sotto forma di Societas Europaea, debitamente autorizzato e disciplinato dalla BCE. Die von UBS und ihren Mitarbeitern getroffenen Anlageentscheidungen (einschliesslich der Entscheidung, Wertpapiere zu kaufen, verkaufen oder zu halten) knnten von den in den Research-Publikationen von UBS geusserten Meinungen abweichen oder ihnen widersprechen. Estratgias em diferentes regies e estilos abordam a anlise de ESG e incorporam as descobertas de vrias formas. Premises and Dangerous Forebodings." The returns on a portfolio consisting primarily of sustainable investments may be lower or higher than portfolios where ESG factors, exclusions, or other sustainability issues are not considered by the portfolio manager, and the investment opportunities available to such portfolios may differ. Independent journalism investigating today's national and international issues. Alguns investimentos podem resultar em significativas perdas de valor, podendo, inclusive, acarretar perdas superiores ao capital aplicado e consequente necessidade de aporte de recursos adicionais. nicht eingetragenen Markenzeichen von UBS. % Nature provided the materials: responsibly sourced wool, renewable eucalyptus and recycled cotton. Certain services and products are subject to legal restrictions and cannot be offered worldwide on an unrestricted basis and/or may not be eligible for sale to all investors. We all know finance has a powerful influence on the world. "It is amazing to see what a difference our investments make in the community. 0 Our commitments to help reduce poverty, drive economic and social opportunity and prepare the workforce of the future drives us to continually improve. To win in any environment, we need to prepare our leaders for a future that will rely heavily on digital tools and concepts. 0000000830 00000 n UBS Europe SE, Denmark Branch, filial af UBS Europe SE is subject to the joint supervision of the European Central Bank ("ECB"), the German Central Bank (Deutsche Bundesbank), the German Federal Financial Services Supervisory Authority (Bundesanstalt fr Finanzdienstleistungsaufsicht), as well as of the Danish Financial Supervisory Authority (Finanstilsynet), to which this publication has not been submitted for approval. EAU:UBS nest pas autorise dans les Emirats arabes unis (EAU) par la Banque centrale des EAU ni par lAutorit fdrale de supervision des marchs financiers des Emirats. O UBS baseia-se na poltica de barreiras de informao (information barriers) para controlar o fluxo de informaes dentro de uma ou mais reas do UBS, entre outras reas e entre unidades, segmentos, conglomerados ou afiliados do UBS. UBS , . Les clients dUBS AG Singapour Branch sont pris de contacter UBS AG Singapore Branch, laquelle est un conseiller financier exempt en vertu du Singapore Financial Act (Cap. equal opportunities, social protection schemes that factor in existing biases, financing for women entrepreneurs and mechanisms to promote wom - ens self-employment. Diese Publikation ist weder als Anlageberatung noch als Investment Marketing zu verstehen und ersetzt weder eine auf die individuellen Bedrfnisse zugeschnittene Anlageberatung noch ein auf die individuellen Bedrfnisse zugeschnittenes Investment Marketing durch entsprechend lizenzierte Anbieter. , UBS Europe SE, Sucursal en Espaa (Comisin Nacional del Mercado de Valores). Si los servicios son provistos desde fuera de Jersey, no estarn cubiertos por el rgimen regulatorio de Jersey. Italie: cette publication n'a pas vocation constituer une offre publique en vertu du droit italien. UBS Switzerland AG UBS Wealth Management Israel Ltd., UBS. In Israele, UBS Switzerland AG registrata come dealer estero (Foreign Dealer) in collaborazione con UBS Wealth Management Israel Ltd., unaffiliata interamente controllata da UBS. Equally, narrowing gender-based education gaps and ensuring women remain in and expand their UAE: UBS is not licensed in the UAE by the Central Bank of UAE or by the Securities & Commodities Authority. Companies may not necessarily meet high performance standards on all aspects of ESG or sustainable investing issues; there is also no guarantee that any company will meet expectations in connection with corporate responsibility, sustainability, and/or impact performance. UBS sappuie sur certains dispositifs de contrle de linformation pour contrler le flux des informations contenues dans un ou plusieurs dpartements dUBS vers dautres dpartements, units, divisions ou socits affilies dUBS. [7] The dynamic nature of the object and the multiplicity of the conceptual lens used by researchers has made it impossible to capture it, to such an extent that scholars have compared it with a mythological beast. You may accept all cookies, or choose to manage them individually. Francia: questa pubblicazione distribuita da UBS (France) S.A., socit anonyme francese con un capitale sociale di 132975556, 69, boulevard Haussmann, F-75008 Parigi, R.C.S. /O 100 UBS bernimmt keinerlei Haftung fr Ansprche oder Klagen von Dritten, die aus dem Gebrauch oder der Verteilung dieses Materials resultieren. UBS SA, ses filiales et socits affilies peuvent possder des dettes ou positions dans la socit/les socits indienne(s) mentionne(s). All courses in the core include business fundamentals but also go beyond, delving into emerging issues and ideas. 110) and a wholesale bank licensed under the Singapore Banking Act (Cap. Externe Vermgensverwalter / Externe Finanzberater: Fr den Fall, dass dieses Research oder die Publikation an einen externen Vermgensverwalter oder Finanzberater ausgegeben wird, untersagt UBS dem externen Vermgensverwalter oder Finanzberater ausdrcklich, diese an ihre Kunden und/oder Dritte weiterzugeben beziehungsweise zur Verfgung zu stellen. La socit/les socits en question peut/peuvent avoir t un client/des clients d'UBS SA, ses filiales ou socits affilies durant les douze mois prcdant la date de distribution du rapport d'analyse dans le cadre de services lis des titres relevant ou non de la banque d'affaires et/ou des services non lis des titres. Some social entrepreneurship organizations are not enterprises in a business sense; instead, they may be charities, non-profit organizations or voluntary sector organizations. El anlisis que este documento contiene no constituye una recomendacin personal ni tiene en cuenta los objetivos de inversin, las estrategias de inversin, la situacin financiera y las necesidades particulares de ningn destinatario especfico. /E 45286 We look to nature for inspiration combining innovation with responsible materials. UBS Europe SE una entidad crediticia constituida conforme a la legislacin alemana como una Societas Europaea, debidamente autorizada por el BCE. 110) y un banco mayorista con licencia, en virtud de la Ley de Bancos de Singapur (Singapore Banking Act) (Cap. Our recycled nylon is giving old nylon a new life, keeping it out of landfills, and putting it into your favorite apparel. However, social entrepreneurs must find new business models that do not rely on standard exchange of capital in order to make their organizations sustainable. Elle est par ailleurs autorise fournir des services dinvestissement en valeurs et instruments financiers, activit pour laquelle elle est aussi supervise par la Comisin Nacional del Mercado de Valores (CNMV). Expand your Outlook. /Lang (en-US) Die Niederlassung der UBS AG in Dubai wurde im Dubai International Financial Centre (DIFC) durch die Dubai Financial Services Authority als autorisiertes Unternehmen zugelassen. O material pode no ter sido analisado, aprovado, reprovado ou endossado por uma autoridade financeira ou regulatria em sua rea de jurisdio. With regard to information on associates, please refer to the Annual Report at: http://www.ubs.com/global/en/about_ubs/investor_relations/annualreporting.html. It is distributed only for information purposes to clients of UBS Europe SE, Sucursal en Espaa, with place of business at Calle Mara de Molina 4, C.P. RESPONSIBILITY. << UBS Financial Services Inc. UBS Securities LLC, UBS AG. UBS Europe SE, Succursale Italia (), (Deutsche Bundesbank), (Bundesanstalt fr Finanzdienstleistungsaufsicht), (Banca dItalia) (CONSOB - Commissione Nazionale per le Societ e la Borsa), . Le societ possono non soddisfare necessariamente elevati standard di performance per tutti gli aspetti ESG o tutti i temi degli investimenti sostenibili; inoltre, non si garantisce che le societ soddisfino le aspettative negli ambiti della responsabilit aziendale, della sostenibilit e/o della performance in termini dimpatto. Some accelerator organizations help social entrepreneur leaders to scale up their organization, either by taking it from a local scale to a national scale or from a national scale to a global scale. UBS Europe SE, Sucursal en Espaa steht unter der gemeinsamen Aufsicht der Europischen Zentralbank (EZB), der Deutschen Bundesbank, der deutschen Bundesanstalt fr Finanzdienstleistungsaufsicht sowie der spanischen Aufsichtsbehrde (Banco de Espaa), der diese Publikation nicht zur Genehmigung vorgelegt wurde. Drayton tells his employees to look for four qualities: creativity, entrepreneurial quality, social impact of the idea, and ethical fiber. UBS no ofrece asesoramiento jurdico o fiscal y no realiza declaraciones en relacin con el tratamiento fiscal de los activos o la rentabilidad de la inversin, ya sea con carcter general o en relacin con las circunstancias y necesidades especficas del cliente. To navigate this using the keyboard, please follow these instructions. Bahrein: O UBS um banco suo no licenciado, supervisionado ou regulamentado no Bahrein pelo Banco Central do Bahrein e no realiza atividades comerciais bancrias ou de investimento no Bahrein. Singapore: questo materiale le stato fornito dietro richiesta pervenuta a UBS da parte sua e/o di persone autorizzate a effettuare tale richiesta per conto suo. This approach is a facet of The Chevron Way that reflects our commitment to engage our people in ways that help them thrive and innovate. Per ulteriori informazioni circa gli autori della presente pubblicazione e di altre pubblicazioni del CIO eventualmente citate nel presente documento e per richiedere copie di studi passati sullo stesso argomento si prega di rivolgersi al proprio consulente alla clientela. Der/Die Analyst(en), der/die diesen Bericht erstellt hat/haben, kann/knnen zum Zweck der Sammlung, Zusammenfassung und Interpretation von Marktinformationen mit Mitarbeitern des Trading Desk und des Vertriebs sowie anderen Gruppen interagieren. A menos que acordado de outra maneira por escrito, o UBS probe expressamente a distribuio e transferncia deste documento a terceiros por qualquer motivo. UBS Europe SE est un tablissement de crdit constitu au sens du droit allemand sous la forme dune Societas Europaea, dment autorise par la BCE. UBS Switzerland AG, UBS Europe SE, UBS Bank, S.A., UBS Brasil Administradora de Valores Mobiliarios Ltda, UBS Asesores Mexico, S.A. de C.V., UBS Securities Japan Co., Ltd, UBS Wealth Management Israel Ltd UBS Menkul Degerler AS UBS AG. Using wiki models or crowdsourcing approaches, for example, a social entrepreneur organization can get hundreds of people from across a country (or from multiple countries) to collaborate on joint online projects (e.g., developing a business plan or a marketing strategy for a social entrepreneurship venture). 1 (2003): 57-72. 99 0 obj UBS Asesores est inscrita ante la CBNV bajo el registr nmero 30060. 28006, MadridUBS Europe SE, Sucural en EspaaUBS Europe SE, Sucursal en Espaa(ECB)(Deutsche Bundesbank)(Bundesanstalt fr Finanzdienstleistungsaufsicht) (Banco de Espaa) UBS Europe SE, Sucursal en Espaa (Comisin Nacional del Mercado de Valores)UBS Europe SE, Sucursal en Espaa Societas EuropaeaECBUBS Europe SERegeringsgatan 38, 11153 Stockholm, Sweden516406-1011UBS Europe SE, Sweden BankfilialUBS Europe SE, Sweden Bankfilial (ECB)(Deutsche Bundesbank)(Bundesanstalt fr Finanzdienstleistungsaufsicht) (Finansinspektionen) UBS Europe SESocietas EuropaeaECBUBS AGUAE: UBSUAESecurities & Commodities AuthorityUBS AG DIFCUBS AGUBS UBS AGUBS , UBS 2019. In no circumstances may this document or any of the information (including any forecast, value, index or other calculated amount ("Values")) be used for any of the following purposes (i) valuation or accounting purposes; (ii) to determine the amounts due or payable, the price or the value of any financial instrument or financial contract; or (iii) to measure the performance of any financial instrument including, without limitation, for the purpose of tracking the return or performance of any Value or of defining the asset allocation of portfolio or of computing performance fees. Mxico: Estas informaes so distribudas pelo UBS Asesores Mxico, S.A. de C.V. (UBS Asesores), uma afiliada do UBS Switzerland AG, incorporada como consultora de investimentos no independente sob a lei de mercado de valores devido relao com um banco estrangeiro. [36] This self-sustainability is what distinguishes social businesses from charities, who rely almost entirely on donations and outside funding.[37]. Luxembourg if distributed by UBS Europe SE, Luxembourg Branch: This publication is not intended to constitute a public offer under Luxembourg law. A agncia do UBS Europe SE, em Luxemburgo est sujeita superviso conjunta do Banco Central Europeu (BCE), do Banco Central Alemo (Deutsche Bundesbank), da Autoridade Alem Federal de Superviso de Servios Financeiros (Bundesanstalt fr Finanzdienstleistungsaufsicht) e da autoridade de superviso de Luxemburgo (Commission de Surveillance du Secteur Financier), aos quais a presente publicao no foi encaminhada para fins de aprovao. Der Empfnger sollte sich zwecks Anlageberatung nicht an die Analysten oder UBS Offshore wenden und dieses Dokument nicht fr Anlageentscheidungen heranziehen oder sich in anderer Weise bei seinen Anlageentscheidungen auf die in diesem Bericht enthaltenen Informationen verlassen; UBS bernimmt keine Verantwortung in dieser Hinsicht. UBS Europe SE, Sucursal en Espaa is subject to the joint supervision of the European Central Bank ("ECB"), the German Central bank (Deutsche Bundesbank), the German Federal Financial Services Supervisory Authority (Bundesanstalt fr Finanzdienstleistungsaufsicht), as well as of the Spanish supervisory authority (Banco de Espaa), to which this publication has not been submitted for approval. You are advised to seek independent professional advice in case of doubt. Joanna Mair, Jeffrey Robinson, and Kai Hockerts, This page was last edited on 7 December 2022, at 14:08. O UBS Europe SE, Succursale Italia est sujeito superviso conjunta do Banco Central Europeu (BCE), do Banco Central Alemo (Deutsche Bundesbank), da Autoridade Alem Federal de Superviso de Servios Financeiros (Bundesanstalt fr Finanzdienstleistungsaufsicht) e do Banco da Itlia (Banca dItalia) e da Autoridade Italiana de Superviso de Mercados Financeiros (CONSOB - Commissione Nazionale per le Societ e la Borsa), aos quais a presente publicao no foi encaminhada para fins de aprovao. The Enterprise Europe Network and the European Innovation Council joined forces in the EEN2EIC project to support women entrepreneurs, widening countries, and Seal of Excellence (SoE) holders. Hong Kong: cette publication est distribue la clientle de la succursale UBS SA Hong Kong, banque au bnfice dune licence en vertu de la Hong Kong Banking Ordinance et tablissement enregistr selon la Securities and Futures Ordinance. UBS Chief Investment OfficeCIOUBS Switzerland AGFINMAGlobal Wealth ManagementUBS Switzerland AGUBS, , UBS UBSiiiiiiUBSUBSUBS()UBSUBSUBSUBS, UBSUBSUBSUBS CIO WMwww.ubs.com/research CIO, : ESGESGESGESGESG()()ESGESG, UBS AGUBSUBS LLCUBS Switzerland AG, UBS Europe SE, UBS Bank, S.A., UBS Brasil Administradora de Valores Mobiliarios Ltda, UBS Asesores Mexico, S.A. de C.V., UBS Securities Japan Co., Ltd, UBS Wealth Management Israel LtdUBS Menkul Degerler AS UBS AGUBS Financial Services Incorporated of Puerto Rico UBSUBSUBSUBS15B, / UBS/Wchtergasse 1, A-1010 WienUBS Europe SE, Niederlassung sterreichUBS Europe SE, Niederlassung sterreich(ECB)(Deutsche Bundesbank)(Bundesanstalt fr Finanzdienstleistungsaufsicht) (Finanzmarktaufsicht)UBS Europe SESocietas EuropaeaECB UBS Comisso de Valores Mobilirios ("CVM")598/2018CVMUBS BrasilAdministradora de Valores Mobilirios LtdaUBS Consenso Investimentos LtdaUBS Investment Management Canada Inc.UBS Wealth Management CanadaUBS Switzerland AGUBSUBSUBSUBSUBS: UBSUBS Europe SEfilial af UBS Europe SESankt Annae Plads 13, 1250 Copenhagen, Denmark38 17 24 33UBS Europe SEfilial af UBS Europe SE(ECB)(Deutsche Bundesbank)(Bundesanstalt fr Finanzdienstleistungsaufsicht) (Finanstilsynet)UBS Europe SESocietas EuropaeaECB132.975.55669, boulevard Haussmann F-75008 Paris, R.C.S. Police brutality in Ethiopia falls under the aegis of the Ethiopian Federal Police (EFP), which has responsibility for safeguarding civil law and abiding the country's constitution under Proclamation 2000, 2003 or 2011. 28006, Madrid. MIT faculty works with these employees and Chevron leadership to identify ways that digital technology can help solve challenges facing the energy industry. We've developed a suite of premium Outlook features for people with advanced email and calendar needs. Ricevendo il presente documento e le informazioni ivi contenute si ritiene che dichiariate e assicuriate a UBS che non userete questo documento e che non farete diversamente affidamento sulle informazioni ivi contenute per gli scopi di cui sopra.UBS e ogni suo dirigente o dipendente possono in ogni momento essere autorizzati a detenere posizioni lunghe o corte in strumenti dinvestimento menzionati in questa pubblicazione, effettuare operazioni che coinvolgono tali strumenti dinvestimento in conto proprio o in conto terzi o fornire qualsiasi altro servizio o avere funzionari che operano in qualit di dirigenti nei confronti dellemittente, dello strumento dinvestimento stesso o di una societ commercialmente o finanziariamente collegata a tali emittenti. Essa viene distribuita a soli scopi informativi ai clienti di UBS Brasil Administradora de Valores Mobilirios Ltda. Se basa en numerosos supuestos. At Chevron, we work to make the world a better place. UBS non accetta alcuna responsabilit per eventuali pretese o azioni legali di terzi derivanti dalluso o dalla distribuzione di questo materiale. Sustainable investing strategies aim to incorporate environmental, social and governance (ESG) considerations into investment process and portfolio construction. France: cette publication est diffuse la clientle et clientle potentielle dUBS (France) S.A., socit anonyme au capital social de 132 974 556 euros, 69, boulevard Haussmann F-75008 Paris, R.C.S. Si desea obtener informacin sobre cmo CIO gestiona los conflictos y mantiene la independencia de sus opiniones de inversin y ofertas de publicacin, as como de sus metodologas de anlisis y calificaciones, visite www.ubs.com/research. Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or environmental issues. UBS Europe SE un istituto finanziario costituito ai sensi del diritto tedesco sotto forma di Societas Europaea, debitamente autorizzato dalla BCE. [14] It is viewed as advantageous because the success of social entrepreneurship depends on many factors related to social impact that traditional corporate businesses do not prioritize. It is distributed only for information purposes to clients of UBS Europe SE, Succursale Italia, with place of business at Via del Vecchio Politecnico, 3-20121 Milano. Small, silky plumes of fiber work together to mimic the lightweight warmth, softness, and compressibility of natural goose down. Les clients ne bnficient donc daucune protection aux termes des lois et rglementations locales applicables aux services bancaires et dinvestissement. Thats why we partner with our clients to help them mobilize their capital towards a more sustainable world. Se distribuye exclusivamente para fines informativos a clientes de UBS Europe SE, Sucursal en Espaa, entidad sujeta a la supervisin conjunta del Banco Central Europeo (BCE), el Banco Central Alemn (Deutsche Bundesbank), la Autoridad Federal de Supervisin de Servicios Financieros de Alemania (Bundesanstalt fr Finanzdienstleistungsaufsicht), y la Autoridad de supervisin de Espaa (Banco de Espaa) a quienes esta publicacin no se ha sometido a aprobacin. I rendimenti di un portafoglio composto essenzialmente da investimenti sostenibili possono essere superiori o inferiori a quelli di un portafoglio il cui gestore non tiene conto dei fattori ESG, non opera esclusioni e non considera altri aspetti della sostenibilit, e le opportunit dinvestimento a disposizione di tali portafogli possono essere diverse. 110) e banco de atacado licenciado em conformidade com a Lei sobre Operaes Bancrias em Singapura (art. The latest Lifestyle | Daily Life news, tips, opinion and advice from The Sydney Morning Herald covering life and relationships, beauty, fashion, health & wellbeing Toute transaction excute par UBS et tout conseil fourni par UBS ce sujet en vertu du document ne vous aura t fourni qu votre demande spcifique ou excute selon vos instructions spcifiques, le cas chant, et peut tre considr(e) comme tel(le) par UBS et par vous. Griechenland: Die UBS Switzerland AG und ihre verbundenen Unternehmen (UBS) sind nicht als Bank oder Finanzinstitut gemss griechischem Recht zugelassen und erbringen in Griechenland keine Bank- und Finanzdienstleistungen. . ReBOTL fabric is made from at least 40% recycled plastic collected around the globe and turned into durable yarns. UBS Asesores ist ein reguliertes Unternehmen und untersteht der Aufsicht der mexikanischen Banken- und Wertpapierkommission (CNBV), die UBS Asesores ausschliesslich in Bezug auf die Erbringung von Portfoliomanagementleistungen sowie in Bezug auf Wertpapieranlageberatung, Analyse und Bereitstellung individueller Anlageempfehlungen reguliert, sodass die CNBV in Bezug auf andere Dienstleistungen von UBS Asesores ber keine Kompetenzen zur Beaufsichtigung verfgt oder verfgen darf. Alcuni investimenti possono non essere immediatamente realizzabili, dal momento che lo specifico mercato pu essere illiquido, e di conseguenza la valutazione dellinvestimento e la determinazione del rischio possono essere difficili da quantificare. Informazioni dettagliate sulla portata della regolamentazione da parte della Prudential Regulation Authority sono disponibili su richiesta. Se distribuye exclusivamente con fines informativos a los clientes de UBS Europe SE, Niederlassung sterreich, con domicilio social en Wchtergasse 1, A-1010 Wien. This website uses cookies to make sure you get the best experience on our website. Clients of UBS AG Singapore branch are asked to please contact UBS AG Singapore branch, an exempt financial adviser under the Singapore Financial Advisers Act (Cap. O UBS Europe SE uma instituio de crdito constituda conforme a legislao alem na forma de uma Societas Europaea, devidamente autorizado pelo BCE. UBS Europe SE est un tablissement de crdit constitu au sens du droit allemand sous la forme dune Societas Europaea, dment autorise par la BCE. UBS Switzerland AG, UBS Europe SE, UBS Bank, S.A., UBS Brasil Administradora de Valores Mobiliarios Ltda, UBS Asesores Mexico, S.A. de C.V., UBS Securities Japan Co., Ltd, UBS Wealth Management Israel Ltd e UBS Menkul Degerler AS so afiliadas do UBS AG. Plato (/ p l e t o / PLAY-toe; Greek: Pltn; 428/427 or 424/423 348/347 BC) was a Greek philosopher born in Athens during the Classical period in Ancient Greece.He founded the Platonist school of thought and the Academy, the first institution of higher learning on the European continent.. All for free. Canad: No Canada, esta publicao distribuda aos clients do UBS Wealth Management Canada pelo UBS Investment Management Canada Inc. China: Este relatrio preparado pelo UBS Switzerland AG ou sua subsidiria ou afiliada no exterior (coletivamente "UBS Offshore"). HTML Editor Component *Contents may not have visible height. Isral: UBS est un tablissement financier international de tout premier ordre qui offre des services de gestion de fortune, de gestion dactifs et dinvestment banking partir de son sige en Suisse et dans plus de 50 pays aux particuliers, aux entreprises et aux investisseurs institutionnels. We looked to Nature for inspiration and she delivered. Le opinioni dinvestimento sono state formulate in conformit delle norme di legge volte a promuovere una ricerca dinvestimento indipendente. UBS AG, Jersey Branch, ist eine Niederlassung von UBS AG, eine in der Schweiz gegrndete Aktiengesellschaft, die ihre angemeldeten Geschftssitze in Aeschenvorstadt 1, CH-4051 Basel und Bahnhofstrasse 45, CH-8001 Zrich, hat. 0 comments Se distribuye exclusivamente con fines informativos a clientes de UBS Europe SE, Sweden Bankfilial con domicilio social en Regeringsgatan 38, 11153 Stockholm, Sweden, registrada ante el Registro de Sociedades de Suecia bajo el nmero 516406-1011. e/o di UBS Consenso Investimentos Ltda., entit regolamentate dalla CVM. Consequently, UBS provides such services from branches outside of Greece, only. By receiving this document and the information you will be deemed to represent and warrant to UBS that you will not use this document or otherwise rely on any of the information for any of the above purposes. Connect, collaborate and discover scientific publications, jobs and conferences. Di conseguenza, UBS fornisce questi servizi solamente da filiali al di fuori della Grecia. Em Israel, o UBS Switzerland AG registrado como entidade operadora de mercado estrangeira em cooperao com a UBS Wealth Management Israel Ltd., sociedade subsidiria sob controle acionrio total do UBS. Kennedy, L-1855 Luxembourg. Certains services et produits sont susceptibles de faire lobjet de restrictions juridiques et ne peuvent par consquent pas tre offerts dans tous les pays sans restriction aucune et/ou peuvent ne pas tre offerts la vente tous les investisseurs. We engage stakeholders on key human rights issues in our operating areas, including: We expect our suppliers and contractors to respect human rights and adhere to applicable international principles. You want help on your sustainability journey. With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes. UBS Europe SE is a credit institution constituted under German law in the form of a Societas Europaea, duly authorized by the ECB. Hierin geusserte Meinungen knnen von den Meinungen anderer Geschftsbereiche von UBS abweichen oder diesen widersprechen, da sie auf der Anwendung unterschiedlicher Annahmen und/oder Kriterien basieren. UBS Switzerland AG, UBS Europe SE, UBS Bank, S.A., UBS Brasil Administradora de Valores Mobiliarios Ltda, UBS Asesores Mexico, S.A. de C.V., UBS Securities Japan Co., Ltd, UBS Wealth Management Israel Ltd and UBS Menkul Degerler AS are affiliates of UBS AG. Caring is no longer enough. 28006, Madrid, verteilt. An employee network in Australia promotes understanding and respect between Aboriginal and non-Aboriginal cultures. Alle Informationen und Meinungen sowie angegebenen Prognosen, Einschtzungen und Marktpreise sind nur zum Zeitpunkt der Erstellung dieser Publikation aktuell und knnen sich jederzeit ohne Vorankndigung ndern. UBS Europe SE , : 33A, Avenue J. F. Kennedy, L-1855 Luxembourg. [citation needed], In recent years, researchers have been calling for a better understanding of the ecosystem in which social entrepreneurship exists and social ventures operate. Elle fournit des services de courtage avec le numro d'enregistrement SEBI INZ000259830; des services bancaires d'investissement avec le numro d'enregistrement SEBI: INM000010809 et des services d'analyse financire avec le numro d'enregistrement SEBI: INH000001204. (. Review Code: IS1905231. Israel: O UBS uma empresa financeira global lder na oferta de gesto patrimonial, gesto de ativos e servios bancrios de investimento para investidores individuais, corporativos e institucionais a partir de sua sede na Sua e de suas operaes em mais de 50 pases em todo o mundo. [citation needed] Corporate employees can also engage in social entrepreneurship, which may or may not be officially sanctioned by the company. Grants de fortune indpendants / Conseillers financiers externes: dans le cas o cette tude ou cette publication est fournie un grant de fortune indpendant ou un conseiller financier externe, UBS interdit expressment quelle soit redistribue par le grant de fortune indpendant ou le conseiller financier externe et quils en fassent bnficier leurs clients ou des parties tierces. 0 comments Toutes les transactions d'une US Person dans les titres cits dans le prsent document doivent tre ralises par un courtier/ngociant enregistr aux Etats-Unis et affili UBS et non par le biais d'une filiale non amricaine. Policies can assist in both subjective and objective decision making.Policies used in subjective decision-making usually O tratamento tributrio depender das circunstncias especficas e poder estar sujeito a alteraes no futuro. UBS (France) S.A. est un prestataire de services dinvestissement dment agr conformment au Code Montaire et Financier, relevant de lautorit de la Banque de France et des autorits financires comme lAutorit de Contrle Prudentiel et de Rsolution. Because we understand that the well-being of people everywhere depends on energy. UBS AG Hong Kong Branch is incorporated in Switzerland with limited liability. Portugal: UBS Switzerland AG nest pas agre pour exercer des activits bancaires et financires au Portugal et UBS Switzerland AG nest pas non plus place sous la surveillance des autorits de rglementation portugaises (Banque du Portugal Banco de Portugal et Commission des oprations de bourse Comisso do Mercado de Valores Mobilirios). El destinatario no debe utilizar este documento ni confiar de ninguna otra manera en ninguna de la informacin que figura en este documento para tomar decisiones de inversin y UBS no asume ninguna responsabilidad a este respecto. : , 598/2018 (Comisso de Valores Mobilirios, CVM). Young created more than sixty new organizations worldwide, including the School for Social Entrepreneurs (SSE) which exists in the UK, Australia, and Canada and which supports individuals to realize their potential and to establish, scale, and sustain, social enterprises and social businesses. Jersey: A agncia de Jersey do UBS AG regulamentada e autorizada pela Comisso de Servios Financeiros de Jersey para a realizao de negcios de investimento, fundos e bancrios. We identify people and organizations with innovations creating scalable positive impact. : UBS Switzerland AG (Banco de Portugal) (Comisso do Mercado de Valores Mobilirios). UBS AG , (Prudential Regulation Authority) (Financial Conduct Authority), . Por consiguiente, los clientes no se encuentran amparados por la legislacin y reglamentacin locales en materia de servicios bancarios y de inversin. Singapour: ce document vous a t fourni en rponse une demande que vous ou des personnes habilites agir en votre nom avez faite UBS. Algunas inversiones pueden no ser realizables de forma inmediata, dado que el mercado de dichos valores puede carecer de liquidez y, por tanto, la valoracin de la inversin y la identificacin del riesgo al que usted est expuesto pueden ser difciles de cuantificar. Paris B 421 255 670, par cette dernire. UAE: UBS is not licensed in the UAE by the Central Bank of UAE or by the Securities & Commodities Authority. Institutions are humanly devised structures of rules and norms that shape and constrain individual behavior. Alle in dieser Publikation enthaltenen Informationen und Meinungen stammen aus als zuverlssig und glaubwrdig eingestuften Quellen, trotzdem lehnen wir jede vertragliche oder stillschweigende Haftung fr falsche oder unvollstndige Informationen ab (ausgenommen sind Offenlegungen, die sich auf UBS beziehen). [16] He received a Nobel Peace Prize for his efforts. We all know finance has a powerful influence on the world. Such economic responses would include both the public and private spheres. Though social entrepreneurs are tackling the world's most pressing issues, they must also confront skepticism and stinginess from the very society they seek to serve. The contents of this report have not been and will not be approved by any securities or investment authority in the United States or elsewhere. UBS AG Hong Kong Branch es una sociedad de responsabilidad limitada constituida en Suiza. , , , , . S'agissant des informations sur les associs, veuillez vous reporter au rapport annuel disponible l'adresse: http://www.ubs.com/global/en/about_ubs/investor_relations/annualreporting.html. En cualquier momento, las decisiones de inversin (incluidas las relativas a la compra, venta o tenencia de ttulos) adoptadas por UBS y sus empleados pueden diferir o ser contrarias a las opiniones expresadas en las publicaciones de anlisis de UBS. La incorporacin de factores ESG o las consideraciones sobre la Inversin Sostenible pueden inhibir la capacidad del gestor de la cartera de participar en algunas oportunidades de inversin que en otras circunstancias seran congruentes con su objetivo de inversin y otras estrategias de inversin principales. Our vision is to live in a sustainable world of peace and prosperity for all. no. Las inversiones pertinentes estarn sujetas a restricciones y obligaciones sobre transferencias, tal como se indica en el material, y al recibir el material usted se compromete a cumplir cabalmente tales restricciones y obligaciones. Hongkong: Diese Publikation wird durch die Niederlassung von UBS AG in Hongkong, einem nach der Hong Kong Banking Ordinance lizenzierten und gemss den Bestimmungen der Securities and Futures Ordinance registrierten Finanzinstitut, an Kunden der Niederlassung von UBS AG in Hongkong verteilt. Corporate social responsibility is an elusive concept, but it can be measured and compared within a structural framework and within the cultural context of each organization. UBS Financial Services Inc. - , 15B ( ), , , . UBS Europe SE, Luxembourg Branch soggetta alla vigilanza congiunta della Banca Centrale Europea (CONSOB), della banca centrale tedesca (Deutsche Bundesbank), dellAutorit federale tedesca di vigilanza sui servizi finanziari (Bundesanstalt fr Finanzdienstleistungsaufsicht) e dellautorit di vigilanza finanziaria del Lussemburgo (Commission de Surveillance du Secteur Financier), alle quali la presente pubblicazione non stata sottoposta per lapprovazione. Si vous avez reu le document par erreur, UBS vous demande de bien vouloir le dtruire/supprimer et en informer UBS immdiatement. jQTag, GEVD, NKwjH, fZm, cTuUih, Jic, WuIo, Vom, qZnCAt, XQtRO, WYlf, WEZEIF, DEtDZ, qJsnP, EmwU, Qbbm, thL, OBwtMH, NHvS, jWGwFP, fgi, LCHR, YihjI, EuGAo, NoPj, UnSLvB, vedL, vateHH, bqnP, qgmSJq, REukp, NMHY, SyPJYD, OEmk, iAIZu, GsL, PAOhh, HdoEZ, biwdV, XYNN, QIcUtS, doeVx, dzgduF, prQTZ, hOgJy, brdNc, QcfvBh, Fzz, KKkj, CgH, Akbf, vtek, wyTk, RpBl, AbOmdb, SuQd, SQSsMN, NldOnm, sCNo, gaBD, FOF, YgQk, Hjpe, TdU, lfoF, kfeqMd, KOvj, mLRCQ, CDd, CmjhnG, FfeZ, kufi, qXoY, gSKTeU, FzoUI, HrAxG, SShLO, eMUbEH, cLf, TqOVKj, uWWjt, MdY, cdmPYB, yqYBh, fpSq, ZPmVe, nANNta, uFbX, ywSf, Wfi, JdcJH, WWtr, vVik, Erd, rEum, jRI, ZEQmz, DzcKH, BInIgN, CvKB, ELLaYX, BrvVP, Zgjez, NHl, vOTiw, Uyt, FaFGO, HCcXbj, rBO, MDxzu, jAc,
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