ESG

UBS Group AG has cut its Asia sustainability office by half in recent months, part of a wider global retreat from dedicated Environmental, Social, and Governance (ESG) operations that has followed the bank’s integration of Credit Suisse.

A former Deutsche Bank executive who went public with allegations that the lender’s asset-management arm overstated its environmental, social, and governance (ESG) credentials has been denied a U.S. whistleblower award because regulators say they first learned of her claims through the press.

European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported.