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Sustainability risk review
Our risk processes enable us to take account of the potential wider implications of our business activities and products and services, for example on the environment and society.
Companies operating in sensitive industries frequently play a key economic role in the global supply of energy and commodities. They may also be major employers in economically weak regions. As such, responsible economic activity can be a significant driver for sustainable development. At the same time, we recognize that the activities of these companies can have a significant impact on the climate, biodiversity, water resources or local communities. We believe that working with our clients is essential to drive sustainable development. Our policies and guidelines describe the environmental and social standards we expect our clients to adhere to but also describe business activities and operations that Credit Suisse will not finance. (.)
The objective of sustainability risk reviews is to identify risks and to prevent adverse impacts on the environment, on people or on society through financial services provided for the activities of a bank’s clients or prospective clients.
Environmental impacts can include air or water pollution, contribution to climate change, deforestation and degradation of ecosystems and loss of biodiversity. Impacts on people or societies can include damage to the health and safety of a client’s workers and contractors, or of communities adjacent to a client’s operations, undermining the livelihood of communities, as well as violation of the human rights of indigenous peoples.