Credit Suisse

Red LineText of policiesCommentsScore
Regulatory requirements
Ensure LegalityHuman Rights Statement
The International Bill of Human Rights as well as the human and labor rights principles of the UN Global Compact underlie our commitment.

Code of Conduct
All members of the Board of Directors and employees are expected to comply with applicalble laws, regulations and policies.

Summary of Forestry and Agribusiness Policy
Excluded activities:
ii. Illegal logging
Credit Suisse will not finance or advise forestry or agribusiness companies that are knowingly involved in, or knowingly purchase resources from, illegal logging operations or where there are credible doubts as to the legality of such logging operations.
iv. Violation of local laws
Credit Suisse will not finance or advise forestry companies against which there is credible evidence of material violations of applicable laws and regulations.
Compliance with local and national laws is required, but compliance of clients with international conventions is not specifically requiredpartly
No Corruption and Tax EvasionCode of Conduct
* We are committed to ensuring that we do everything possible to prevent money laundering, the financing of terrorist activities and corruption;
* We are committed to complying with all relevant tax laws
* We do not assist clients in activities intended to breach their tax obligations
The policy shows commitment to fighting corruption and tax avoidance/evasion, but falls short of excluding clients involved in corruption and tax avoidance.partly
Ensure ESIA for mills and plantationsNo publicly available policies or documentation were found that cover this criteria.not
Social requirements
Ensure FPICSummary of Forestry and Agribusiness Policy
Mandatory Referrals:
Indigenous Peoples: When there is credible evidence that the proceeds of a project-related transaction are used for activities which may negatively impact an area used or traditionally claimed by an indigenous commu-nity, Credit Suisse expects its clients, with respect to this transaction, through active engagement with the re-spective authorities, regulatory bodies and affected communities, to demonstrate alignment with specific key objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7 – Indigenous Peoples, which incorporate the principles of the United Nations Declaration on the Rights of Indigenous Peoples and the concept of Free, Prior and Informed Consent (FPIC).
The policy requires alignment with IFC PS 7, which requires FPIC. However, this standard only protects partly against this red line, as it only requires FPIC for indigenous people, and not for other traditional communities, and it also only requires FPIC for projects located on Indigenous People's lands, not for those that are outside these lands, yet will impact them, for example by polluting the river that crosses these landspartly
Respect Human RightsSummary of Forestry and Agribusiness Policy
Excluded activities:
vi. Human rights
Credit Suisse will not finance or advise forestry or agribusiness companies against which there is credible evidence of involvement in grave human rights abuses such as, e.g., forced labor, employment of children, or the use of violence against local communities and indigenous groups.

Human Rights Statement
The International Bill of Human Rights as well as the human and labor rights principles of the UN Global Compact underlie our commitment.
In general, heightened attention is required when a client (whether a corporate client or an individual) operates in a jurisdiction that experiences political instability, weak governance, or repression of minority groups, and when the bank is considering the financing of business activities in a conflict zone, developing financial products associated with vulnerable client segments, or providing financial services to a sector with known human rights issues. (...) For relationships with private clients anti-money laundering regulations are applied, which also include the identification and monitoring of Politically Exposed Persons (PEP).
We have taken the lead with an informal group of banks (the Thun Group of Banks) on the development of a discussion paper (see “The Guiding Principles: an interpretation for banks”, October 2013).
The bank excludes clients where violations have been proven, but it does not require clients to demonstrate they respect Human rights and that they uphold ILO conventions.partly
Respect Indigenous rights and customary land use rightsSummary of Forestry and Agribusiness Policy
Mandatory Referrals:
Indigenous Peoples: When there is credible evidence that the proceeds of a project-related transaction are used for activities which may negatively impact an area used or traditionally claimed by an indigenous commu-nity, Credit Suisse expects its clients, with respect to this transaction, through active engagement with the re-spective authorities, regulatory bodies and affected communities, to demonstrate alignment with specific key objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7 – Indige-nous Peoples, which incorporate the principles of the United Nations Declaration on the Rights of Indigenous Peoples and the concept of Free, Prior and Informed Consent (FPIC).
The policy requires alignment with IFC PS 7, which requires FPIC. However, this standard only protects partly against this red line, as it only requires FPIC for indigenous people, and not for other traditional communities, and it also only requires FPIC for projects located on Indigenous People's lands, not for those that are outside these lands, yet will impact them, for example by polluting the river that crosses these landspartly
No forced resettlementSummary of Forestry and Agribusiness Policy
Prohibited Activities involving Forestry and Agribusiness Companies:
iv. Major resettlements
Credit Suisse will not finance or provide advice on operations undertaken by Forestry and Agribusiness Companies
that require resettlement of 5,000 or more people, unless supported by FPIC and a comprehensive resettlement
action plan.
The IFC policies only protects partly against resettement without FPIC, as they only cover indigenous people.partly
Environmental Requirements
No forest degradation and deforestationSummary of Forestry and Agribusiness Policy
Prohibited Activities involving Forestry and Agribusiness Companies:
i. Areas of High Conservation Value
Credit Suisse will not finance or provide advice on activities undertaken by Forestry and Agribusiness Companies in areas of High Conservation Value (HCV) that are subject to statutory local, national or international ‘Protected Area’ designation, or areas that are undesignated but recognized by the international scientific community as having HCVs.
Examples of HCV areas include fragile or threatened habitats, including all Primary Forest; areas with concentrations of threatened or endangered species, and/or sites of special cultural or religious significance. This includes a prohibi-tion on harvesting or trading tree species protected under Appendix I of the Convention on International Trade in En-dangered Species of Wild Fauna and Flora (CITES).
HCVs with international designation include, for example, sites in the UNESCO World Heritage List or the Ramsar List of Wetlands of International Importance.

Mandatory Referrals:
Peatland Operations: As a general rule, Credit Suisse will not finance or provide advice on new activities un-dertaken by Forestry and Agribusiness Companies on peatlands regardless of depth. For transactions involving existing forestry or agribusiness activities located on peatlands, particular scrutiny will be applied to assess the legality of these activities and to ensure best management practices are applied.
The policy provides strong protection against deforestation and forest degradation, however it does not mention the protection of HCS area (though it mentions peat).well
Protect endangered speciesSummary of Forestry and Agribusiness Policy
Excluded activities:
Furthermore, Credit Suisse will not finance or advise forestry or agribusiness companies that are knowingly involved in harvesting or trading tree species that are protected under Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
The policy excludes trade in CITES species, but does not mention IUCN Red list speciespartly
No high-risk speciesNo publicly available policies or documentation were found that cover this criteria.not
No fireSummary of Forestry and Agribusiness Policy
Prohibited Activities involving Forestry and Agribusiness Companies:
iii. Use of fire and fire prevention
Credit Suisse will not finance or advise Forestry and Agribusiness Companies that do not have an explicit policy and demonstrable measures against the use of fire in their activities. We further expect Forestry and Agribusiness Companies to deploy commensurate resources towards fire prevention, monitoring and suppression on the land they man-age and in the vicinity of their operations.
The policy explicitely prohibits the use of fire. well
Protect peatSummary of Forestry and Agribusiness Policy
Mandatory Referrals:
Peatland Operations: As a general rule, Credit Suisse will not finance or provide advice on new activities un-dertaken by Forestry and Agribusiness Companies on peatlands regardless of depth. For transactions involving existing forestry or agribusiness activities located on peatlands, particular scrutiny will be applied to assess the legality of these activities and to ensure best management practices are applied.
The policy provides a general protection of peatlands, but there is room for exceptions. The policy does also not explicitely apply to third partiespartly
No persistent pollutionSummary of Forestry and Agribusiness Policy
Performance of Client: Assessments of a forestry or agribusiness company’s reputation and management practices should be based on its ability to demonstrate that it has adequately addressed the follow-ing issues:
(...)
Water management
Waste management
Air emissions
There is a policy that requires clients to address polution issues "adequately", but the policy does not set any clear thresholds not does it prohibt the use of elemental chlorine.partly
Corporate association / scope of the policy
Corporate association / scope of the policySummary of Credit Suisse’s Sector Policies and Guidelines
The policies and guidelines apply globally to all business activities of Credit Suisse relating directly to companies operating in those sectors, regardless of whether the company is in a direct contractual relationship with Credit Suisse or the object or target of a Credit Suisse client
The policy applies both to clients as to companies affiliated with the client.well