Enhancements in product classification

Since the end of the first quarter 2021, we have broadened our ESG product shelf and fund offering in terms of the number of products developed and accessibility to ESG-aligned products. Our process to assess funds continues and will take time as asset and fund managers adapt their own investment processes and practices.

In our Asset Management division, we have concentrated on the further transformation of our actively managed product range. The transformation includes the application of exclusion criteria as defined in the Credit Suisse Sustainable Investment Framework and the integration of ESG factors at various steps in the investment process. In the course of 2021, we transformed our Emerging Market Fixed Income funds, the majority of balanced products and selected equity funds.