The materiality assessment is also available online at:
credit-suisse.com/materialityassessmentSustainability Report 2020
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Materiality assessment
Our sustainability reporting activities focus on topics that are relevant to our business and our stakeholders. We regularly undertake a materiality assessment in order to identify economic, environmental and social issues that may either have a significant impact on the company’s business performance or substantively influence the assessments and decisions of our stakeholders. We believe that this helps us recognize new trends and evolve our strategy accordingly, as well as align our reporting with the interests and needs of our business and our stakeholders.
The materiality assessment is based on our ongoing dialogue with stakeholders across all parts of our organization. We strive to ensure that the list of material issues identified in the past remains relevant and that important new topics are addressed.
To explore our stakeholders’ views on their perceived importance of issues for Credit Suisse, we conducted a structured online survey in 2019, reaching out to a broad range of external and internal stakeholders in all regions where we operate. Building on the results of this survey, the list of material issues was revised and updated in 2020 in a process that included the analysis of information from monitoring tools, a dedicated media review, as well as the views of internal experts who participate in an ongoing dialogue with relevant stakeholder groups. Throughout this process, we considered the perspectives of clients, investors and analysts, policymakers, non-governmental organizations (NGOs), employees and other stakeholders. The 2020 list of material issues is the result of this analysis and reflects average values of perceived importance.
The greatest increase in relative importance compared to the previous year was attributed to the issues of environmental and social risk management and human resources management. New topics included in the 2020 materiality assessment are: Corporate culture & values, Transparency & alignment to ESG frameworks, and Financial inclusion & accessibility.
Credit Suisse materiality assessment
Material issues
Importance
1
Environmental and social risk management Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Environmental management system / assessment of sustainability risks in transactions / policies for sensitive industries / impacts on ecosystems and landscapes (incl. biodiversity, agriculture and forestry) / responsible supply chain management
Further information
Sustainability risk reviewRelationship with suppliersReducing carbon emissions across our operationsBiodiversity and natural capital2
Compliance and conduct Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Compliance with laws and regulations / prevention of money laundering and terrorist financing / anti-corruption / combating financial market crime (e. g. fraud, anti-competitive practices) / sanctions compliance / tax compliance
Further information
ComplianceTax3
Climate Change Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Reducing the carbon footprint of own operations / greenhouse gas neutrality / managing climate risks / facilitate transition to a low carbon and climate resilient economy through product offering / climate-related disclosure
Further information
PlanetFinancing a sustainable business world4
Company performance and strategy Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Business strategy / financial results / share price / capital distribution (incl. dividends and share buybacks) / capital, liquidity and funding position / stability of the company / operational risk (incl. business continuity management, technology risks) / cost efficiency / cost reductions
Further information
Our companyMaintaining safe and stable operations - Business Continuity Management5
Human resources and talent management Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Diversity and inclusion / non-discrimination / training and skills management / attracting and retaining talent / health and safety / work-life balance / employees over 50 years of age
Further information
People6
Incentives and compensation policy Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Responsible approach to compensation / executive compensation / criteria for incentives / deferral, claw-backs
Further information
Compensation7
Financial and political system stability Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Systemic risk / capital and liquidity / total loss-absorbing capacity (TLAC) / legal entity structure / resolvability / political and economic stability / negative interest rates
Further information
Our company8
Digitalization / fintech Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Blockchain / fintech / digital transformation / big data, automation
Further information
Risk capital for growth and innovation – supporting SMEs and promoting entrepreneurship9
Responsible investments Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Sustainable products and services / impact investing (incl. microfinance, conservation finance) / integration of environmental, social and governance (ESG) criteria in products and services
Further information
Sustainable Products & Services10
Company culture and values Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Corporate culture / values / company purpose / reputation / trust
Further information
Purpose11
Consumer and investor protection Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Suitability and appropriateness /data security / privacy / transparency of fees
Further information
Consumer and investor protection12
Quality and range of services and advice Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Advisory process, relationship managers / range and quality of products and services / expertise (e. g. research, advisory) / performance and pricing of products and services / technology
Further information
Consumer and investor protectionSustainable Products & Services13
Corporate governance Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Operational structure / governance framework / management team / voting rights
Further information
Corporate governanceSustainability governance14
Transparency & alignment to ESG frameworks Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Paris Agreement / UN Sustainable Development Goals / Principles for Responsible Banking / Principles for Responsible Investment / national and international sustainable finance frameworks and regulations/ ESG disclosure requirements and standards / TCFD / EU Taxonomy
Further information
Our role in addressing climate changeTask Force on Climate-related Financial DisclosuresDisclosure Frameworks15
Contribution to the economy Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Purchasing, sourcing / tax contribution / lending to small and medium-sized enterprises (SMEs) and start-ups
Further information
TaxSupporting the economyFinancial inclusion16
Human rights Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Fair working conditions; no child labor, no forced labor / human rights aspects in supply chain and business relations / indigenous peoples rights / positive contribution to the realization of human rights
Further information
Sector policies and guidelinesRelationship with suppliersRespecting human rights17
Financial inclusion & accessibility Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- User-friendly banking services / accessibility for all to products and services / financial literacy among customers
Further information
Commitments to our communitiesBridging the financial services devide18
Social commitments Importance
Relevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Definition and scope of terms
- Philanthropy / supporting social and humanitarian projects / employee engagement, incl. skills-based volunteering / “militia” system of politics in our Swiss home market
Further information
Our role in societyRelevance to stakeholders (average)
Impact on Credit Suisse
Range of stakeholder views
Detailed information on Credit Suisse Group’s financial performance, corporate governance, compensation practices, liquidity and funding management, capital management and risk management can be found in the Annual Report 2020