GlobalData offers a comprehensive analysis of Credit Suisse, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Credit Suisse’s ESG performance. GlobalData’s company profile on Credit Suisse offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Credit Suisse has announced its net-zero targets, aiming to achieve net-zero emissions by 2050. Credit Suisse's latest filings mentioned the keywords 'Carbon' and 'Emissions' most number of times in relation to 'Net Zero'.
The company has set interim 2030 goals to reduce its scope 3 emissions across six sectors, including corporate lending, power generation, commercial real estate, iron and steel, aluminum, and automotive. It has set a target for 61% reduction in scope 1 and scope 2 enterprise GHG emissions against 2019 baseline. Credit Suisse has defined three key transition strategy levers: Engage, Grow, and Reallocate to guide its strategies and actions to achieve its net-zero goals, including existing emissions reduction commitments by clients. The company has already taken steps to reduce emissions, such as reallocating capital to lower carbon intensity activities and engaging with clients and investees.
In 2022, Credit Suisse generated 63,193 tCO2e of GHG emissions across scope 1, scope 2 (market-based), and included scope 3 emissions. The company has reduced its operational GHG emissions by 84% from its restated 2010 baseline year emissions. Credit Suisse's current carbon emissions and greenhouse gas emissions (scope 1, 2, and 3) are below the 2030 goal trajectory for oil, gas, and coal, power generation, and aluminum. However, the company's emissions for iron and steel, and automotive are above the 2030 goal trajectory. Credit Suisse Asset Management has joined the Net Zero Asset Managers initiative, and the company has expanded its sector policies to cover climate-sensitive sectors such as oil sands, deep-sea mining, Arctic oil and gas, and palm oil.
To achieve its net-zero targets, Credit Suisse plans to grow by providing sustainable finance solutions, engage with clients and investees, and reallocate capital to lower carbon intensity activities. The company has also set emissions reductions goals and outlined initial progress for six sectors. In addition, Credit Suisse has launched the Center for Sustainability as a pillar of the Credit Suisse Research Institute, aiming to provide clients and stakeholders with agile access to insights on emerging sustainability topics.
Credit Suisse's net-zero targets are aligned with the Partnership for Carbon Accounting Financials, Net-Zero Banking Alliance, Science Based Targets initiative, and the Poseidon Principles. However, the company faces risks, assumptions, and uncertainties, including general market conditions, market volatility, geopolitical conflicts, evolving sustainability strategies, and regulatory changes.
In conclusion, Credit Suisse has set ambitious net-zero targets and outlined a comprehensive transition strategy to achieve its goals. By engaging with clients, reallocating capital to lower carbon intensity activities, and actively reducing its operational GHG emissions, the company is taking significant steps towards a sustainable future.