Greenhouse Gas Neutrality in Switzerland since 2006
In April 2005 the Sustainability Committee of Credit Suisse approved the pilot project "Greenhouse gas-neutral Switzerland" launched by Corporate Real Estate and Services Switzerland. Since 2006 Credit Suisse is the first major corporation in Switzerland to neutralize all greenhouse gas emissions caused by its operations in Switzerland and by business flights out of Switzerland.
Sustainability Affairs and Environmental Management Services have developed a mechanism to purchase the necessary emission reduction rights. Part of this procedure is a co-operation with the external specialized provider of greenhouse gas neutrality services, 3C Climate Change Consulting, Frankfurt. 3C has assembled the following portfolio of different emission reduction projects for the first project period 2006-2008:
| Portfolio of Greenhouse Gas Reductions Certificates - Types of project |
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| Portfolio of Greenhouse Gas Reductions Certificates - Country Distribution |
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For the time being Credit Suisse does not wish to be in direct contractual relationships with individual emission reduction projects in order to acquire the necessary CERs/VERs, which is why 3C will provide a full service including purchase, handling and retirement of the emission reduction rights.
Under this co-operation Credit Suisse has ordered the amount of 243'000 tons CO2-equivalents for the years 2006 to 2008 in order to ensure greenhouse gas neutrality of the operations in Switzerland as well as air travel out of Switzerland for this period. The cost of compensation at the current price level is approx.:
- CHF 35.- in total per employee and year or
- CHF 0.65 per square meter of office surface as well as
- CHF 3.- per flight hour.
From 2006 on, all tickets booked in Switzerland via Credit Suisse travel services will be issued as carbon neutral tickets. For the time being Credit Suisse applies an RFI factor of 1.0 for air travel emissions. Credit Suisse is also open to other solutions such as climate tickets provided directly through the airlines.
In addition, in-house or stakeholder events can be organized carbon neutrally by compensating for the travel of all participants as well as the use of infrastructure. For example, Credit Suisse's annual shareholder meeting 2006 went carbon neutral.
