Our environment. Our responsibility.
We take environmental impacts into account when conducting our business. We do this by developing sustainable products and services and addressing sustainability issues in our risk management. Implementing various operational measures helps us to reduce our environmental footprint.
Credit Suisse is committed to developing and supporting measures that contribute to a more environmentally sustainable economy. We believe that these efforts are in the interests of both our organization and our clients and other stakeholders.
Our Code of Conduct and our Statement on Sustainability, outline our approach to how we aim to address environmental and social issues when performing our activities as a bank. The UN Global Compact and the UN Sustainable Development Goals (SDGs) are other important points of reference in this area.
Climate change is a reality that must be addressed. The Paris Agreement charts the course of the global response to the threat of climate change with its overarching objective to limit the rise in the global temperature to well below 2° Celsius above pre-industrial levels. Based on the Paris Agreement, countries have committed to implement transition plans to lower their greenhouse gas emissions. As a global financial institution, we recognize our share of responsibilities in combating climate change by supporting the transition to a low-carbon and climate-resilient global economy.
In 2019, Credit Suisse introduced a Group-wide Climate Risk Strategy program with a three-pronged approach: supporting our clients in their transition to low-carbon and climate-resilient business models; providing sustainable finance solutions; and reducing the carbon footprint of our own operations. Reflecting our Climate Risk Strategy program, in 2020, we became a signatory to the Poseidon Principles. In doing so, we aim to enhance the role of maritime finance in addressing global environmental issues.
In our banking businesses, environmental aspects are considered when managing transaction-related risks. To assess whether projects or client activities may pose a major risk to the environment, the climate or biodiversity, we apply our Reputational Risk Review Process.
To open up sources of capital for the transition to a low-carbon and climate-resilient economy, Credit Suisse actively supports green finance solutions and renewable energy businesses, drawing upon the expertise of various specialist departments across its divisions.
To reduce our own ecological footprint, we have an environmental management system (EMS) in place, which is certified globally in accordance with ISO 14001:2015. Since 2010, all our operations worldwide have been greenhouse gas neutral. In 2019, we successfully completed an EMS surveillance audit carried out by SGS, without any Corrective Action Requests (CARs).
We have also strengthened our commitment to environmental management by introducing 2025 environmental objectives.
Our responsibility for the environment − in numbers