Approach & Reporting Sustainability Commitments
Our commitment to sustainability is anchored in the Credit Suisse Code of Conduct, the 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.
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 Reputational Risk Sustainability Committee (RRSC), chaired by the Group’s Chief Risk Officer, is responsible for the overall oversight of sustainability issues. It is composed of senior managers from different divisions and regions, including several members of the Executive Board. The RRSC also has ultimate responsibility for the Reputational Risk Review Process, which is an internal process under which business transactions are reviewed and evaluated in terms of their potential social and/or environmental impact, among other aspects.
- The RRSC 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.
- Group Business Support Services (GBSS) provides the bank with a wide range of services. It defines and implements the real estate strategy of Credit Suisse and manages the Business Delivery Centers. Within GBSS, Real Estate & Workplace Strategy and Global Facilities Management are 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 aimed at reducing Credit Suisse's ecological footprint.
Furthermore, both Sourcing & Vendor Management and the Group Chief Technology Officer contribute to the overall sustainability goals of Credit Suisse. They monitor important suppliers and their environmental and social standards, as required by the Credit Suisse Supplier Code of Conduct, and when planning IT centers and infrastructure, take energy efficiency factors into account as key elements when considering cost-effectiveness.
Sustainability commitments at the corporate level are complemented by sustainability initiatives and networks in which Credit Suisse participates. In the area of products and services, the Impact Advisory and Finance (IAF) department aims to facilitate investable projects and initiatives that have a positive economic and social impact in addition to a financial return.
These company-wide sustainability commitments complement the public agreements and memberships of Credit Suisse.