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Corporate Responsibility

Climate Change

Climate change is one of the greatest challenges of our time. Credit Suisse and its clients, as members of the global community, are also affected by climate change. As a financial services provider, we are responding to this challenge on various levels. We have been greenhouse gas neutral globally since 2010, and we are involved in the international dialogue to promote climate-friendly business practices.

Climate protection and the reduction of greenhouse gas emissions are two of the most pressing issues of our times. In February 2007, a report by the UN Intergovernmental Panel on Climate Change (IPCC) warned of the negative consequences of climate change. Credit Suisse recognized the need for action at an early stage and is systematically implementing climate-related measures on a number of levels.

Credit Suisse’s operations in Switzerland have been greenhouse gas neutral since 2006. In 2010, we also achieved greenhouse gas neutrality for all our operations worldwide. In 2010, our global emissions totaled 365,800 metric tons, compared to 273,000 in 2009. However, the two sets of data are only comparable to a limited extent due to the use of new calculation methods in 2010. For several years, we have also been developing products and investment vehicles with a focus on environmental and social themes for our clients.

Participating in the Climate Debate

Credit Suisse is involved in the dialogue about climate change. To incorporate the views of the finance industry into the debate, we participate in the following working groups:

  • International Chamber of Commerce (ICC)
  • UNEP Finance Initiative
  • World Economic Forum (WEF)

Furthermore, Brady W. Dougan, CEO of Credit Suisse, joined other business leaders to sign the CEO Climate Policy Recommendations to G8 Leaders before the 2008 G8 summit.

To underscore the importance of adopting strong measures to address climate change, Credit Suisse gave its endorsement to a letter sent by WWF to the Swiss Federal Council prior to the Copenhagen Climate Change Conference, which emphasized the need for an established framework for the promotion of climate-friendly business practices. We were also involved in the consultation process regarding the revision of the Swiss CO2 law.

Transparency regarding Greenhouse Gas Emissions

Credit Suisse has participated in the Carbon Disclosure Project every year since 2002. This international initiative provides institutional investors transparent information about the greenhouse gas emissions of listed companies. In 2010, 82% of the world's 500 largest companies (FT500) took part in the global survey. Credit Suisse scored 69 points out of a possible 100.

Support for Climate Projects

In 2010, we once again lent our support to various conferences and initiatives. These included:

  • Credit Suisse Asian Investment Conference (AIC) in Hongkong: The 13th AIC focused on the question: “How can Asia sustain its growth ?” A panel discussion between representatives of companies in the renewable energy sector met with considerable interest among the more than 3,000 business and political representatives who attended the event.
  • Biodiversity Conference in Nagoya: Credit Suisse actively participated in the 10th Conference of the Parties to the Convention on Biological Diversity in Nagoya, Japan, in connection with UNEP FI. The conference represented the highlight in the International Year of Biodiversity.

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