Implementation of the Ten Principles of the UN Global Compact
Over 15,000 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 in 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. Credit Suisse therefore remains committed to continuously support this important initiative.” – 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
Further information
Risk management/sustainability risk reviewLabor
Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Implementation at Credit Suisse
- Sector policies and guidelines
- Credit Suisse Staff Council in Switzerland (internal employee representation)
- European Works Council
the 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
- Commitment to equality, diversity and inclusion, including special programs, trainings and objectives
the elimination of discrimination in respect of employment and occupation.
Implementation at Credit Suisse
- Sector policies and guidelines
- Credit Suisse Supplier Code of Conduct and Third Party Risk Management (TPRM) framework
- Commitment to equality, diversity and inclusion, including special programs, trainings and objectives
Environment
Businesses should support a precautionary approach to environmental challenges;
Implementation at Credit Suisse
- Our role in addressing climate change
- Internal Global Climate Change Policy
- Assessment of sustainability risks
- Founding member of the Net Zero Banking Alliance (NZBA)
- Sector policy developments - inclusion of thermal coal mining and coal-fired power exclusions
- Signatory to the Poseidon Principles
- Biodiversity and natural capital
- Addressing the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD)
- Signatory to the Principles for Responsible Banking (PRB)
Further information
Climate risk governance and organizationOur role in addressing climate changeSustainability risk reviewNet Zero Banking Alliance (NZBA)Sector policies and guidelinesPoseidon PrinciplesBiodiversity and natural capitalTask Force on Climate-related Financial DisclosuresSustainability networks and initiativesundertake 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 by 2050
- Commitment to 2030 and 2050 carbon emission reduction goals for oil, gas and coal financing, aligned to our net zero ambition
- Successful rollout of Client Energy Transition Frameworks (CETFs) for priority sectors
- Global greenhouse gas neutrality since 2010
- ISO 14001-certified environmental management system
- 2025 objectives
- Activities in the area of biodiversity and natural capital
encourage the development and diffusion of environmentally friendly technologies.
Implementation at Credit Suisse
- Reducing our operational footprint
- Focus on the three sustainable themes "protect the future", "transition to better" and "disrupt for progress" in our approach to sustainable products and services
- Sustainable real estate
Anti-corruption
Businesses should work against corruption in all its forms, including extortion and bribery.
Implementation at Credit Suisse
- Financial Crime Compliance Framework
- Member of the Wolfsberg Group
- Internal standards and training for employees
- Global whistleblowing framework including a web-based Integrity Line