Section Navigation

• Due Diligence(selected)
  • Overview
  • Risk Assessment
  • Recognizing our Responsibilities
  • Human Rights(selected)
  • Sector Policies and Guidelines
• Trust and Expertise
  • Overview
  • Client Focus
  • Accessibility
  • SMEs in Switzerland
  • New Markets
• Agreements and Memberships
  • Overview
  • UN Global Compact
  • UNEP Statement
  • Wolfsberg Group
  • Carbon Principles
  • Equator Principles
  • RSPO
• Statement on Sustainability
• Sustainable Products & Services
  • Overview
  • Investment Products and Services
  • Client Foundations
• Microfinance

Human Rights

Credit Suisse adheres to the UN Universal Declaration of Human Rights.

When discussing the relationship between human rights and companies, it is important to put the roles of business and other players in the right context. It is clear that the state – i.e. government – bears the main responsibility for the protection and promotion of human rights. It is perhaps less obvious, however, that human rights obligations apply not only to states and governments, but to a certain extent also to companies.

At Credit Suisse, we recognize our responsibility to respect human rights in line with the principles on human and labor rights set out in the UN Global Compact and the UN’s Universal Declaration of Human Rights.

Declaration of Human Rights for Business Leaders

Credit Suisse adheres to the UN Global Compact and UN Universal Declaration of Human Rights We also base our approach on the Protect, Respect and Remedy Framework drawn up by the former UN Special Representative on Business and Human Rights, Prof. John Ruggie, which defines the responsibilities of states and companies for human rights and sets out the corresponding guiding principles to implement them. To support the adoption of these principles in the banking sector, Credit Suisse and other European banks are currently working proactively with academic experts to develop industry-specific recommendations (Thun Statement) for how they can be applied in practice. 

Spheres of influence

Credit Suisse recognizes its responsibility to respect human rights within its sphere of influence which it defines - in descending order - as follows:

• employees
• suppliers and service providers
• private clients and corporate clients
• local communities

While our own employees are within our direct sphere of influence, the other stakeholder groups present potential indirect human rights interfaces for Credit Suisse. Depending on the type and intensity of the relationship in the concrete case the level of influence that Credit Suisse can actually exert may be varying.

Employees represent Credit Suisse's primary sphere of influence - the bank has a direct obligation to protect their human rights, including the right to equal opportunities, protection from discrimination and fair working conditions. Fortunately, the use of child labor or forced labor among its own staff is not even an issue for banks. 

The second sphere of influence covers Credit Suisse's suppliers and service providers. Credit Suisse seeks to ensure that our principal suppliers respect human rights, for example that they do not use child or forced labor and do not restrict their employees’ right to join trade unions.

The third sphere in which Credit Suisse could be indirectly confronted with human rights issues is in our relationship with clients. Challenges arise if clients engage in activities that could lead to potential violations of these rights − as in the case of major resettlements or measures affecting the sacred sites of local communities or indigenous peoples. In such cases, Credit Suisse examines sensitive aspects of the transactions in a clearly defined, comprehensive Reputational Risk Review Process and rejects transactions that do not meet our standards. The human rights standards that we expect our clients to meet are presented in a transparent manner in our comprehensive summaries of the sector-specific policies and guidelines. In the case of private clients, the application of all anti-money laundering regulations is key, which also includes the identification and monitoring of Politically Exposed Persons (PEP).

The fourth sphere concerns the local communities surrounding our banking operations. Since our bank premises are usually located in urban areas and do not pollute the surrounding environment, our impacts on our neighbors are relatively minor. Quite the opposite, in fact, we try to make a positive contribution to local communities through our various philanthropy and microfinance activities.

Awareness-raising of the public

To express our support for human rights beyond our own business activities, Credit Suisse recently entered into a partnership with the International Human Rights Forum in Lucerne (IHRF). This annual public conference is principally organized by students with the purpose of supporting and sustainably continuing the human rights debate as well as raising public awareness of human rights issues.

• Increase Contrast
• Print