Banking Human Rights
In its role as an employer, and as a user and provider of services, Credit Suisse is committed to human rights and respects them as a key element of responsible business conduct.
We strive to assume our responsibilities in the area of human rights in accordance with the International Bill of Human Rights, as well as the principles on human and labor rights set out in the UN Global Compact. We take account of these principles in our own policies and business activities.
The Credit Suisse Statement on Human Rights (PDF) describes the foundation of our commitment to respect human rights and the approaches, processes and tools we apply to implement it in our relationships with our employees and when providing financial products and services for our broad range of clients. Equally, we expect our business partners to recognize and uphold human rights. Our Modern Slavery and Human Trafficking Transparency Statement (PDF) sets out the steps that Credit Suisse is taking to prevent the occurrence of modern slavery and human trafficking in our business operations or within our supply chain. Standards on human rights are also part of our Supplier Code of Conduct as well as the Third Party Risk Management framework we introduced in 2016. For more information on supplier management, see the dedicated website.
When realizing our efforts in the area of human rights, we take account of the UN "Protect, Respect and Remedy" framework and the Guiding Principles on Business and Human Rights – the key reference points for the business and human rights debate. To promote a better understanding of what these Guiding Principles mean for the banking sector, Credit Suisse co-initiated the Thun Group of Banks in 2011 together with other financial institutions. In this context, we co-authored a discussion paper in 2016 that explores the meaning and reach of certain guiding principles in a corporate and investment banking context. In 2015, the Thun Group had focused on the third pillar of the Guiding Principles and held discussions on the topics "Access to Remedy" and "Grievance Mechanisms". These discussions had also addressed the question of whether and how these could apply to banking products and services.
Credit Suisse's most direct link to human rights issues is in our own activities, especially in our working relationship with our employees, and this is consequently the area where we believe we can exercise the greatest influence. In addition, the provision of certain financial services may be linked to negative human rights impacts – particularly if they relate to business activities of clients that could potentially affect local populations. Using our Reputational Risk Review Process, we therefore perform detailed reviews of aspects of transactions that are sensitive from a human rights perspective.
Indications of potential or real human rights impacts can be brought to our attention using existing channels such as the Integrity Hotline (Switzerland: 0800 356 356 56), the Credit Suisse Whistleblower Process, client contact centers, online contact forms, or email.
For regular reporting and detailed information on the implementation of our commitment, including training and awareness-raising, see our latest Corporate Responsibility Report on pages 16-18 (PDF).