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Our sustainability commitments

We are committed to sustainability. Our commitment is anchored in our Code of Conduct, our Statement on Sustainability, and our Sustainability Management Policy.

 

Code of Conduct and Conduct and Ethics Standards

Our Code of Conduct provides a framework of principles for all our operations worldwide, which is binding on all employees and members of the Board of Directors. It also forms the basis of Credit Suisse's commitment to sustainability. It encompasses the obligation of Credit Suisse employees to take account of environmental and social impacts when making business decisions, and when managing Credit Suisse resources and infrastructure in the long term. Sustainability considerations are also incorporated into our Conduct and Ethics Standards, which are designed to ensure that people throughout Credit Suisse share the same understanding and expectations in terms of our culture and conduct. Appropriate risk-taking, ensuring sustainability and acting responsibly towards society are key elements of these standards.

 

Statement on Sustainability

We believe that our responsible approach to business is a decisive factor determining our long-term success. The "Statement on Sustainability" is based on our Code of Conduct and explains how we aim to address environmental and social issues when performing our activities as a bank.

 

Sustainability Management

The responsibilities and processes for addressing sustainability issues within the bank are defined within our internal Sustainability Management Policy. All employees of Credit Suisse have an obligation to consider potential environmental and social impacts when taking business decisions and when managing our resources and infrastructure.

The successful integration of sustainability at Credit Suisse requires the collaborative efforts of all functions. The following persons and groups are entrusted with the implementation and the monitoring of our sustainability commitments:

  • The CEO is the most senior manager having responsibility for sustainability matters at Credit Suisse.
  • The Position & Client Risk (PCR) cycle of the Capital Allocation & Risk Management Committee (CARMC), jointly chaired by the Group's Chief Risk Officer and Chief Compliance Officer, is the most senior governing body responsible for the overall oversight and active discussion of reputational risks and sustainability issues (including climate change). It is composed of senior managers from different divisions and regions, including several members of the Executive Board. The PCR cycle of CARMC also has ultimate responsibility for the Reputational Risk Review Process, which is an internal process under which proposed business transactions and client relationships are reviewed and evaluated in terms of their potential social and/or environmental impact, among other aspects.
  • The PCR cycle of CARMC is supported in its role by the Sustainability Affairs specialist unit, which has broad responsibility for managing environmental and social issues within Credit Suisse. Sustainability Affairs assesses potential social and environmental risks of business transactions and client relationships within the Reputational Risk Review Process. The unit also maintains a dialogue with stakeholders and oversees the bank's sustainability commitments, amongst other things.
  • Sustainability Strategy, Advisory and Finance (SSAF) combines all of Credit Suisse's investment activities in sustainable investing around the globe within one organization, while defining the firm's sustainability strategy relating to these efforts. SSAF aims to facilitate investable projects and initiatives that have a positive economic and social impact while focusing primarily on generating a financial return for clients. Its mandate is to define, guide and coordinate all of the Group's activities in this sector for the benefit of institutional, corporate and wealth management clients. SSAF sets the bank’s sustainability ambition and public commitments and is responsible for selecting the bank’s core sustainability themes. It will also determine flagship initiatives, divisional sustainability KPIs and lead the bank’s public profile on sustainability.
  • Group Business Support Services (GBSS) defines and implements the real estate strategy of Credit Suisse and keeps track of our environmental impact. GBSS plays a key role in the bank-wide efforts to further reduce our environmental footprint, and in pursuing Credit Suisse’s sustainability ambitions. GBSS is responsible for the maintenance and development of the ISO 14001-certified environmental management system, for the implementation of Credit Suisse's commitment to greenhouse gas neutrality in daily business, and for the coordination of cross-regional projects. The Engineering, Environment, Health & Safety team, part of GBSS, aims to provide multi-disciplined engineering and technical services for the bank, with key focus on improving our environmental commitments and reducing Credit Suisse's environmental impact.
  • Furthermore, Sourcing & Vendor Management contributes to the overall sustainability goals of Credit Suisse, monitoring important suppliers and their environmental and social standards, as required by the Credit Suisse Supplier Code of Conduct.

Sustainability commitments at the corporate level are complemented by sustainability initiatives and networks in which Credit Suisse participates.