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Greenhouse gas neutrality. Our four-​pillar strategy.

We strive to use natural resources more efficiently and to minimize our net greenhouse gas emissions. Our operations have been greenhouse gas neutral globally since 2010.

 

We recognize the importance of, and are committed to minimizing, our own climate change impacts. The energy use of our buildings and the business travel of our employees are the most important levers for reducing emissions.

Credit Suisse has been greenhouse gas neutral globally since 2010. We systematically pursue our four-pillar strategy based on operational efficiency improvements, energy-saving investments, the substitution of existing energy sources through climate-friendly energy and though renewable energy certificates (RECs), and finally by compensating for the remaining emissions through the purchase of emissions reduction certificates (ERCs). As a result of the various measures taken across the first three pillars of our strategy, our net global greenhouse gas emissions decreased by around 38% to 129,100 metric tons of CO2 equivalents in 2018 compared to the year 2016.

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  • Optimizing Operations

  • Investments

  • Substitution

  • Compensation

Our greenhouse gas neutrality − in numbers

11200
employees were provided with trainings on environmental management and health and safety
184
thousand hours of videoconferencing (desktop-based and in videoconferencing rooms) were used, helping to reduce our CO2 emissions
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What is Greenhouse Gas Neutrality?

Processes and situations that do not change the global balance of greenhouse gases are considered greenhouse gas-​neutral or climate-​neutral. Because carbon dioxide (CO2) is the greenhouse gas most frequently generated by human activity, the term "carbon-​neutral" is often used instead of the term "greenhouse gas neutral." In order to become greenhouse gas neutral, emissions must either be avoided or balanced through targeted measures. CO2 emissions, for example, can be reduced by cutting energy use or boosting energy efficiency. Remaining emissions can then be neutralized through offsetting – whereby emissions that cannot be prevented are reduced elsewhere. For example, the environmental impact of business-​related air travel can be offset through renewable energy resources projects in another location that reduce an equivalent amount of emissions.

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Credit Suisse's Greenhouse Gas Emissions

Business Travel

For Credit Suisse as a global financial institution, business travel is a challenge we face in our efforts to reduce our environmental footprint. While it is often essential to maintain direct contact with clients, business travel accounts for around 37 percent of our global greenhouse gas emissions. To reduce the number of flights taken, we encourage employees to travel by train when covering shorter distances, and to use telephone and video conferencing whenever possible. Consequently, the use of videoconferencing (desktop-based and in videoconferencing rooms) amounted to approximately 184,200 hours in 2018. As part of our strategy to maintain global greenhouse gas neutrality, all the emissions from our air travel have been offset since 2010 through the purchase of emission reduction certificates (ERCs): in 2018, this amounted to 47,500 metric tons of CO2 equivalents. To raise employee awareness of this issue, the amount of CO2 emissions resulting from each flight is specified on every airline ticket.

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Calculation of Emissions according to International Standards

Credit Suisse calculates emissions according to the VfU standard 2015, in line with the requirements of the Greenhouse Gas Protocol, an international standard for CO2 reporting. The emissions reported comprise direct emissions (scope 1), indirect emissions from the generation of electricity, heat, and steam (scope 2), as well as other indirect emissions caused by business travel, paper consumption, and the disposal of waste (scope 3). An RFI (Radiative Forcing Index) of 1 was used for business air travel.

For more information on how we assume our responsibility for the environment see the Corporate Responsibility Report on pages 50-56.

Credit Suisse Statement on Sustainability (PDF)
Certificate of the Swiss Private Sector Energy Agency: Voluntary Climate Protection 2019/2020 (PDF)
Environmental Performance Data for In-House Operations 2018 (PDF)
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