Legal Documents and Notes SFDR - Sustainable Finance Disclosure Regulation
Information on integration of sustainability risks in compensation policies in connection with the Sustainable Finance Disclosure Regulation of the European Union (EU) 2019/2088.
At Credit Suisse, we are fully committed to sustainability, which is a core component of our strategy. Our ambition to provide sustainable investment solutions is at the core of our offering to clients, and we continue to extend the breadth and depth of innovative sustainable and impact investment products and services to meet clients’ appetites. Our strong commitment to sustainability is enhanced by establishing a new Sustainability Advisory Committee at the Board of Directors level, consisting of outside advisors and members of the Board. Further sustainability and culture-related topics are routinely addressed at meetings of the Board committees. For example, at meetings of the Compensation Committee, and as necessary, members review and approve any sanctions imposed on senior employees for behavioral matters.
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 into account the environmental and social impact of their business decisions. Sustainability considerations are also incorporated into our cultural values and behaviors. Appropriate risk-taking, ensuring sustainability and acting responsibly towards society are key elements. These values together with our Code of Conduct form an important component of the annual performance evaluation of each employee at Credit Suisse. Besides the conduct related evaluation criteria, additional ESG key performance indicators such as our goal to provide at least CHF 300bn of sustainable financing over the next 10 years, may apply depending on the function and position.
Our compensation policy and approach is geared at rewarding positive behaviors and managing risk-taking behaviors, encouraging focus on long-term goals beyond pure financial performances. Credit Suisse looks to balance this across its business strategy, including in respect of sustainability opportunities and risks. Credit Suisse's compensation policy allows for appropriate adjustments to be made according to risks identified, bearing in mind both financial and non-financial criteria.
As our ambition with respect to sustainability continues to evolve, so does our approach to internal policies. To this end, and over the course of 2021, Credit Suisse intends to add sustainability risk as a component of its Compensation Policy. For more information on sustainability related topics at Credit Suisse, please refer to the Sustainable Investing website. In addition, our 2020 Sustainability report will be published later in March 2021 with further details on our sustainability strategy and approach.