UBS opposes responsible business initiative as wrong tool for the task

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A petition to hold Swiss-based companies liable for human rights abuses and environmental violations in operations anywhere, even outside the country, is headed for a referendum. UBS is opposed to the initiative but supports a parliamentary counterproposal that requires companies to report and conduct due diligence in these areas. Those who say the counterproposal is too weak are underestimating the power of disclosure, says Christian Leitz, head of corporate responsibility management at the bank.