I have had the immense privilege of being Chairman of Credit Suisse for ten years. In that time, societal expectations have grown for corporations, and rightfully so. We are called upon to play an active role in tackling the pressing environmental, social and governance issues that will set the course for future generations.

I am proud of our progress on sustainability, particularly in the last year. It reflects the spirit of innovation and responsibility that has been in our bank’s DNA since its creation over 160 years ago. This report highlights our deep commitment to advancing our ESG strategy by serving our clients and reducing our own carbon footprint. I am delighted that my colleague Iris Bohnet is serving as the first Sustainability Leader within the Board of Directors to ensure a governance structure that helps us deliver our ambitions.

Our success starts with our people. This Sustainability Report confirms our firm belief that having a diverse workforce and inclusive culture strengthens our ability to generate best-in-class sustainable solutions.

Sustainability is essential to good business strategy. ESG considerations have become even more critical due to the widespread economic and social disruption caused by the COVID-19 pandemic.

In 2020, we enhanced our sustainability strategy at Credit Suisse, determined to meet the needs of our clients, our employees, our shareholders and the communities in which we operate. We adapted our organizational structure to drive accountability for ESG with the creation of the Sustainability, Research & Investment Solutions organization, with Executive Board leadership. We strengthened our own commitments to Diversity & Inclusion and launched our first-ever purpose statement to infuse our values into our daily working lives.

I am delighted to share this updated Sustainability Report to underscore how our purpose will propel our efforts. This is my commitment, and I look forward to raising the bar even higher in 2021.