Implementation of the Ten Principles of the UN Global Compact
Over 12,000 businesses from around 160 countries have pledged to uphold the principles relating to human rights, labor standards, environmental protection and anti-corruption efforts defined in the Ten Principles of the UN Global Compact. Credit Suisse has been a signatory to this leading international initiative since its inception in 2000, and we are an active member of the Global Compact Network Switzerland & Liechtenstein. Through our Sustainability Report, we communicate annually on the progress we have made in implementing the Ten Principles.
“We recognize the importance of upholding international standards and best practices to promote responsible business conduct, such as the UN Global Compact with its Ten Principles on human rights, labor standards, environmental protection and anti-corruption efforts. I am happy to reaffirm our support for this important initiative again this year.” – Thomas Gottstein, Chief Executive Officer.
The Ten Principles of the UN Global Compact
Human rights
Businesses should support and respect the protection of internationally proclaimed human rights; and
Implementation at Credit Suisse
- Participation in the Thun Group to promote a better understanding of the UN Guiding Principles on Business and Human Rights for the banking sector
- Statement on Human Rights
make sure that they are not complicit in human rights abuses
Implementation at Credit Suisse
- Assessment of sustainability risks
- Sector policies and guidelines
Labor
Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Implementation at Credit Suisse
- Credit Suisse Staff Council in Switzerland (internal employee representation)
- European Works Council
Further information
Freedom of Associationthe elimination of all forms of forced and compulsory labor;
Implementation at Credit Suisse
- Credit Suisse Supplier Code of Conduct and Third Party Risk Management (TPRM) framework
- Modern Slavery and Human Trafficking Transparency Statement
the effective abolition of child labor; and
Implementation at Credit Suisse
- Sector policies and guidelines
- Credit Suisse Supplier Code of Conduct and Third Party Risk Management (TPRM) framework
the elimination of discrimination in respect of employment and occupation.
Implementation at Credit Suisse
- Commitment to equality, diversity and inclusion, including special programs, trainings and objectives
Further information
Committed to equality, diversity and inclusionEnvironment
Businesses should support a precautionary approach to environmental challenges;
Implementation at Credit Suisse
- Group-wide Climate Risk Strategy program
- Statement on Climate Change
- Assessment of sustainability risks
- Sector policies and guidelines
- Signatory to the Principles for Responsible Banking (PRB)
- Signatory to the Principles for Responsible Investment (PRI)
- Addressing the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD)
- Signatory to the Poseidon Principles
undertake initiatives to promote greater environmental responsibility; and
Implementation at Credit Suisse
- Commitment to achieve net zero emissions from our operations, supply chain and financing activities no later than 2050, with intermediate emissions goals for 2030
- Global greenhouse gas neutrality since 2010
- ISO 14001-certified environmental management system
- Activities in the area of conservation finance
- Sustainability Strategy Advisory and Finance (SSAF)
encourage the development and diffusion of environmentally friendly technologies.
Implementation at Credit Suisse
- Use of climate-friendly energy sources for our operations
- Green finance
- Renewable energy financing
- Sustainable real estate
Anti-corruption
Businesses should work against corruption in all its forms, including extortion and bribery.
Implementation at Credit Suisse
- Member of the Wolfsberg Group
- Internal standards and training for employees
- Global whistleblowing framework including a web-based Integrity Line