Economy & Society Global Commitments
Credit Suisse and its employees have been committed to fostering inclusive growth by addressing socio-economic challenges for many years. Working with selected partner organizations, we support social and humanitarian projects around the world.
Credit Suisse strives to be a committed partner beyond its core activities and to contribute to inclusive growth and social development. We have therefore entered into long-term strategic partnerships with selected non-profit organizations (NGOs) that have an extensive knowledge of specific local requirements in different countries. Our regional foundations and committees work with over 700 partner organizations globally and are responsible for coordinating grants, donations and the volunteer efforts of our employees.
Credit Suisse is convinced that employee volunteering creates mutual benefits. By participating in the charitable projects run by our partner organizations, we can gain a better insight into the needs of the people in the communities in which we live and work and build mutual trust. At the same time, these activities further enhance the interpersonal skills of our people and promote team spirit – ultimately strengthening our corporate culture.
As part of our social commitment we set three focus themes: microfinance, education and employee engagement.
Employee Engagement 2015
partners receiving both funding and skills-based volunteering support
countries in which our partners are active
Selected Projects 2016
|The Women's Foundation "Girl Go Tech Program" Career Day (Hong Kong)'||
Credit Suisse sponsored The Women's Foundation's 'Girls Go Tech' project through employee fundraising during the 2015 year-end holiday party. On July 8, almost 80 Credit Suisse volunteers hosted a free career information session and IT coding workshop for 42 girls from three underprivileged high schools in Hong Kong.
|The event provided the opportunity for our employees to share their personal experience and career advice as well as to connect with the local community. At the end of the full-day event, the students gained an understanding of the different career opportunities available at Credit Suisse and were able to design and develop a website which allows users to search for share prices and build a Foreign Exchange (FX) calculator.|
|Needs Assessment Workshop (Singapore)||Credit Suisse held a workshop for 18 of our existing philanthropy and volunteering partners which involved volunteering our staff skills and expertise to address capability gaps faced by the charities. Close to 15 of our staff volunteered to be trained prior to the workshop to be facilitators on the actual day. These staff came from varying backgrounds (IT, Marketing, Legal, Finance, HR) to ensure that the needs of the various charities were met.||The workshop was a success, with great feedback from both the charities and staff. It resulted with six volunteers being matched to four different skills-based volunteering projects that are currently in progress. Each project will take place over four to six months. For example, one such project with Muscular Dystrophy Association of Singapore (MDAS) and two Credit Suisse volunteers from Private Banking Marketing have resulted in their social media to receive increased viewership after the staff assisted with editing their video and providing feedback on how to improve their social media platforms to increase awareness.|
|Livelihood advancements projects for vulnerable groups – Watershed Organization Trust (WOTR) (Pune and Jai Vakeel School, Mumbai)||Credit Suisse supports a livelihood advancement projects for children with special needs in Mumbai and farmers in Pune. Credit Suisse in Mumbai by supporting Jai Vakeel School focuses on inclusive education by providing livelihood advancement guidance to children with learning disabilities. 15 of our staff participated in supporting the children at the vocational guidance training center in packing the products developed by them. Continuing the support being provided to farmers in rural Maharashtra, on the rainwater harvesting and water shed initiative through WOTR, 60 staff members from Pune and Mumbai offices travelled to Ahmednagar District to plant 6,000 saplings over two days in five villages.||
The support by the volunteers at the vocational center helped the school in their ongoing pre-festival exhibitions. The school raises funds for the vocational center and stipends for the children with learning disabilities through exhibitions.
The planting of saplings will help green forest cover in five villages and will support over 3,000 families in these villages.
|City Year UK National Gallery Education Outreach program||To provide young volunteers and 50 children from disadvantaged background with a reflective education program.||
Through our sponsorship relationship with the National Gallery Credit Suisse was able to facilitate the design and delivery of an education outreach program to young people lead by expert educators from the Gallery. The students and volunteers were introduced to four pieces of art which they reflected on and created their own works based on what they learned. The program also challenged the Gallery to consider its education program and has led to new thinking around working with targeted schools in disadvantaged communities.
|Polish Children and Youth Foundation (PCYF)||
The Polish Children and Youth Foundation aims to stimulate the comprehensive development of children and young people and to raise a new generation of responsible and creative citizens who consciously shape their own lives and that of their community.
The Credit Suisse EMEA Foundation now funds a social skills training program for teachers and students from vocational schools and technical colleges in Wroclaw and Gdansk.
Between October 2015 and May 2016, a comprehensive program was implemented to develop social skills, including organization, leadership, creativity and entrepreneurship among vocational students (technical colleges and basic vocational schools). The Program has two components:
The first round of the program involved teachers and students in seven vocational schools in Wroclaw and five in Gdansk. To date 36 teachers (24 in Wroclaw and 12 in Gdansk) have received training and the program has been completed by 516 students (308 in Wroclaw and 208 in Gdansk).
All workshops conducted by Credit Suisse employees were completed in March and April 2016.
Simulated job interviews conducted by Credit Suisse employees for over 55 students were completed in May and June. Each interview was based on a scenario and lasted for about 30 minutes. On June 15, 2016, Credit Suisse employees took part in the official closing of the first round of the program during which teachers and students received certificates.
|Ireland Charity of the Year||To select a Charity of the Year for the new Dublin site and deliver a program.||In the new Dublin office employees voted to support Pieta House, a non-profit organization which works with people who are in suicidal distress or at risk of self-harm. Local employees immediately engaged with the organization and had raised over EUR 45,000 by the end of 3Q16. Key events included the Wicklow Challenge, a 200km cycle challenge.|
|KIPP||To help the network of college-preparatory, public charter schools to prepare students in educationally underserved communities for success in college and life.||In 2016, KIPP enrolled 80,000 students at its 200 schools. In the communities where they work, they are helping to increase the college graduation rate of 10% four-fold. In an effort to connect employees with the organizations that Credit Suisse invests in, the KIPP AMP Legacy Jazz Ensemble performed at the 2016 Giving Back Awards, our annual employee recognition event. Additionally, several Credit Suisse employees volunteer with KIPP on weekends while others serve as members of the governing board or on the KIPP NYC Associate Council.|
|Nonprofit Board Service Program and Matching Gifts||To strengthen the capacity of non-profit organizations by supporting employees who already serve or are looking to serve on non-profit boards.||As part of this work we offer resources to existing non-profit board members, including programming to share best practices and meet other board members, as well as a matching gifts program, which was launched in 2015. Recent analysis of our program has shown that employees who serve on non-profit boards are more engaged and less likely to leave the bank.|
|Holiday Charity Initiative||To bring visibility and funding to organizations that reflect the bank's corporate citizenship priorities – with a particular focus on organizations where our employees volunteer.||The Holiday Charity Initiative is Credit Suisse's annual employee giving campaign in the Americas whereby the Credit Suisse Americas Foundation matches employee contributions to select organizations. Since it was launched in 2004, the campaign has raised over USD 18.5 million. In 2016, employees were invited to nominate and vote for organizations to be included in the campaign.|
|Credit Suisse Young Artist Award 2016||Promoting the next generation of talent is important to us.||Through the Prix Credit Suisse Jeunes Solistes and the Credit Suisse Young Artist Award, we are providing a platform for exceptional young artists. The Credit Suisse Young Artist Award 2016 was won by percussionist Simone Rubino. The award comes with prize money of CHF 75,000 and the chance to perform in concert with the Vienna Philharmonic at the Lucerne Festival.|
|Pro Juventute interview skills training||We support young people in their last year at school in applying for apprenticeships, with a view to helping reduce youth unemployment.||Around 130 Credit Suisse employees have been involved in a pilot project in three cantons, working with more than 600 young people. Due to the positive feedback Pro Juventute foundation is now planning to roll out its interview skills training program in other parts of Switzerland. Credit Suisse will continue to be a key partner in this important project, adding a new dimension to its successful Youth Unemployment Initiative, which has been running since 2010.|
|150 years of the Swiss Red Cross||In 2016, our long-term partner Swiss Red Cross (SRK) celebrated its 150th anniversary. We assisted the SRK with the celebrations.||During the year, we launched a whole range of communication measures, such as special video clips to mark the occasion in our branches and on social media, ads and articles in various in-house and external media. As part of the official celebrations to kick off the anniversary year, we organized a VIP event at our Bundesplatz branch in Bern, and staff volunteered to help out with the festivities. The SRK is very well known and liked in Switzerland, so the anniversary year was a great opportunity to support our partners in a slightly different way for once.|
Response to global challenges
Our aim is to implement our global strategy in the area of social commitments as effectively as possible, ensuring that our resources are deployed efficiently and that the projects we support generate long-term benefits. To facilitate these efforts, we cooperate with local partners who understand the conditions in the individual regions and can execute projects that are specifically tailored to local needs.
We regard education and access to financial services as key drivers of growth and an effective means of helping people to help themselves.
Based on the success of the bank's Global Education Initiative, we rolled out a new program focused on financial education for girls in 2014. The program is being implemented by the global organizations Plan International and Aflatoun. Aligned with both the Microfinance Capacity Building Initiative and the core business of Credit Suisse, the program brings together Plan International's expertise in enabling access to quality education and Aflatoun's expertise in improving the life skills of girls and the development of social and financial skills curricula and teaching methods. The program aims to improve the financial education and life skills of approximately 100,000 adolescent girls in Brazil, China, India and Rwanda and to encourage them to transition through secondary school.
Through our Microfinance Capacity Building Initiative, we help to improve management training and development and foster product and process innovation in microfinance institutions at a global level to give people at the base of the income pyramid better access to banking services. Furthermore, the initiative finances small businesses through microloans, savings, insurance and other financial products and services targeted at low-income clients. It is an effective means of helping people to help themselves and makes an important contribution to the reduction of poverty. At the same time, microfinance generates both a social return and a financial return for investors.
The Global Citizens Program provides opportunities for qualified employees to go on assignment in-country and apply their professional skills to build the capacity of our partner organizations working in the areas of education and microfinance. Participation in the GCP provides the volunteers with valuable professional and personal experiences that they can apply to their regular work at the bank.
Response to local challenges
As an employer, we strive to assume our social responsibilities by encouraging our employees to lend their support to our partners, thus complementing the financial contributions made by Credit Suisse. We offer all employees the opportunity to dedicate up to four days per year on full pay to take part in projects run by our partners in the areas of education, environmental protection, health care and social issues. In addition to their social impact on our communities, these engagements contribute to our employees' personal and professional development and, at the same time, help to strengthen our corporate culture. Moreover, our Global Citizens Program (see page 29) allows suitably qualified employees to use their expertise to make a direct contribution on the ground to projects run by our global partner organizations, mostly in emerging economies and developing countries.
Disaster Relief Fund
The Credit Suisse's Foundation's Disaster Relief Fund provides emergency aid to the victims of natural disasters around the globe. By providing assistance quickly, we try to reduce the suffering of victims and help with reconstruction. The donations made by our employees are also an important source of support that complements the contributions and matching gifts made by the Foundation. To strengthen our humanitarian commitments we also entered into a global partnership with the ICRC in 2008.
In Japan, the Disaster Relief Fund is providing a total of USD 5.5 million to support long-term reconstruction efforts in the Fukushima region. When the Tayphoon Haiyan hit the Philippines in November 2013, the Disaster Relief Fund provided USD 630,000 of immediate financial aid.
In April 2015, Nepal was impacted by a strong earthquake, which caused severe damage – particularly to the capital, Kathmandu. Credit Suisse gave employees the opportunity to make donations and subsequently doubled the amount of money they had raised. In total, over USD 600,000 was given to the aid organization Habitat for Humanity in support of its relief efforts in Nepal.