Publication of Annual Report 2023, Sustainability Report 2023, Business Review 2023; update on climate strategy

Ad hoc announcement pursuant to Art. 53 LR

Zurich, 18 March 2024 – Julius Baer Group today published its Annual Report 2023 (including the Remuneration Report), the Sustainability Report 2023 and Business Review 2023 as well as the Annual Report 2023 (Financial Statement IFRS) of Bank Julius Baer & Co. Ltd. The documents are available for download on the Julius Baer website at www.juliusbaer.com/reports.

Update on climate strategy

In 2023, Julius Baer continued to make progress across its sustainability strategy and act on the climate targets published in 2022. For the long term, the Group reaffirms its commitment to achieve net-zero emissions on its treasury, lending, and mortgage books by 2050, and on its operational emissions by 2030.  

In addition to reaffirming its long-term commitments, the Sustainability Report 2023 includes near-term targets that have been validated by SBTi (Science Based Targets initiative). Validated SBTi targets ensure that the company’s efforts in reducing emissions are in line with what’s required to achieve the goals set by the Paris Agreement.

In 2022 and as part of our commitment to reducing business travel, Julius Baer introduced an internal carbon price on air travel. In 2023 the proceeds from this initiative have been used to purchase sustainable aviation fuel (SAF) from Swiss International Airlines and Lufthansa Group and will also go towards funding two projects in Indonesia and Panama to restore mangroves and tropical forests respectively.

Nic Dreckmann, CEO a.i. of Julius Baer, said: “To become the wealth manager of choice for our next generation of clients, sustainability will remain an important topic, as a growing number of clients seek to better align their investments with personal values. Therefore, we continually strive to improve our ecosystem of solutions and services to clients, accompanying them on their sustainability journey and empowering them to make a positive impact.”

Yvonne Suter, Head of Sustainability at Julius Baer, commented: “To limit global warming, the priority is to reduce carbon emissions. However, for the remaining emissions, we must find other ways to remove them. Today, relying on nature is the only viable way to capture carbon at scale from the atmosphere. That’s why we’re pleased to announce that we’re supporting the two long-term reforestation projects in Indonesia and Panama.”

Contacts

Media Relations, tel. +41 (0) 58 888 8888

Investor Relations, tel. +41 (0) 58 888 5256

About Julius Baer

Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of 2023, assets under management amounted to CHF 427 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.

Julius Baer is present in around 25 countries and over 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, São Paulo, Shanghai, Singapore, Tel Aviv, and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base, and our entrepreneurial management culture make us the international reference in wealth management.

For more information visit our website at www.juliusbaer.com