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Sector policies and guidelines
Certain industries are particularly sensitive from a social or environmental perspective (including impacts on the climate). To assess potential transactions with clients or prospects in these industries, we have defined specific policies and guidelines that are globally applicable, taking account of standards developed by international organizations such as the United Nations (UN), the World Bank or the International Finance Corporation (IFC). These policies and guidelines cover the sectors oil and gas, mining, power generation, and forestry and agribusiness, which includes pulp and paper, as well as palm oil production. They address a range of topics such as: compliance with industry-specific, internationally recognized standards on the environment and human rights; measures to assess and reduce the environmental impact of operations, including on the climate and on biodiversity and ecosystems; the protection of the health and safety of company employees, contractors and surrounding communities; and respect for the human rights of the local population, with particular attention on projectrelated impacts on indigenous peoples.
Our risk management framework incorporates an assessment of whether a transaction or client relationship under review is in line with our sector policies and relevant industry standards and good practice. The sector policies and guidelines also form an important component of our Group-wide Climate Risk Strategy program.
Credit Suisse introduced in 2021 an internal global climate change policy that addresses Credit Suisse’s broader long-term climate change strategy, reflecting its commitment to the Paris Climate agreement as well as the approach to the transition and physical risks arising from a changing climate.
Our sector policies and guidelines are subject to a regular review to take account of the latest developments and new challenges in the relevant areas. In step with the stated sustainability ambitions of Credit Suisse, we expect to introduce further restrictions over time.
Our policies and guidelines describe business activities and operations that Credit Suisse will not finance. Following is the detail on our continuous journey toward funding-related restrictions to various sectors: