Credit Suisse was founded in 1856 and is headquartered in Zurich, Switzerland. It provides
companies, institutional clients and high-net-worth private clients worldwide,
as well as retail clients in Switzerland, with advisory services, comprehensive
solutions, and innovative products. The bank is engaged in private banking, investment banking, and asset management. It has over 50,000 employees and operates in fifty-five countries throughout the world.
ownership
listed on NYSE Euronext, SIX Swiss Exchange
headquarters
Paradeplatz 8
8070 Zurich
Switzerland
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
In the Canadian Boreal forest just downstream of the eastern foothills of the Rocky Mountains are the Canadian tar sands. The region contains some 2 trillion barrels of oil,…
Cluster munitions pose a serious threat to civilian populations during and after a conflict. Cluster munitions are designed to blanket a large area containing one or more…
The Kusile coal fired power plant project is located in the province of Mpumalanga, in South Africa. With 4800MW, it will be one of the largest power plants of its kind in…
Mountain top removal mining is a form of strip mining in which coal companies use explosives to blast as much as 800 to 1000 feet off the tops of mountains order to reach…
The Phulbari coal project is a proposed open pit coal mine in northwest Bangladesh and includes the construction of at least one 500-MW power plant. At full production about…
The Sakhalin II project in the Russian Far East is said by project sponsors to be the largest integrated oil and gas project in the world. The project involves…
The Browse Basin gas field off Western Australia's (WA's) north coast is estimated to contain 35 trillion cubic feet of gas. Woodside Petroleum Ltd and its joint venture…
Aracruz is the world's largest producer of bleached eucalyptus pulp, with a share of 27% of global production, and it is also Latin America's biggest pulp exporter. The company…
Ecuador's Yasuni National Park is threatened by planned oil development by the Brazilian oil company Petrobras. The oil development will take place in Block 31, two thirds…
Dynegy LS Power is currently planning to construct more new coal-fired power plants than any other company in the USA, which will result in very large increases in greenhouse…
Gunns Limited, an Australian logging giant, is planning to build a ECF Lite pulp mill in Tasmania, Australia. The pulp mill is currently one of the most controversial issues…
Toka Tindung is about 35 km north east of Manado, the capital of the Indonesian Province of North Sulawesi. The project entails the development of six open-pit gold mines…
BankTrack has identified controversial issues
with the companies listed below that require attention from Credit Suisse.
Alliant Techsystems
Alliant Techsystems (ATK) is the world's largest manufacturer of ammunition and a leading supplier of precision systems and electronic warfare. The company is also active…
CRH is a diversified building materials group which, through its investment in the Israeli company Mashav, is deriving profits and therefore benefiting from the occupation…
E.ON is a German electricity company headquartered in Düsseldorf and is another of big beasts of energy production. E.ON operates along the entire value chain of power…
Elbit Systems is a military equipment producer with a focus on defense electronics like intelligence gathering systems. Elbit Systems and its subsidiaries contribute directly…
As Europe's second largest electricity generator and one of Europe's five leading gas and electricity companies, this German utility is another of energy and gas production's…
The Samling group, which is based in the Malaysian state of Sarawak on Borneo, is one of Malaysia's biggest logging companies and responsible for the ongoing destruction…
Singapore Technologies Engineering Ltd (ST Engineering) is an integrated engineering group specialising in innovative solutions and services in the aerospace, electronics,…
Textron is a multi-industry company, consisting of numerous subsidiaries and operating units. One subsidiary is Textron Systems, which is active in the defence, homeland…
Sweden's state-owned Vattenfall is Europe's fifth largest generator of electricity and largest producer of heat. Vattenfall delivers electricity to around 7.4 million customers…
Letter to BankTrack as a response to BT letter of February 11, 2010
Mar 29, 2010 | Equator Principles Financial Insititutions, Citi
The first response ever to one of the letters BankTrack sent to the Equator Principles Financial Insititutions. It is a response to the BankTrack follow up letter after the meeting in Zuerich, February 4.
Jan 04, 2012 - 2011 was the year full of controversies. Our cyber satire unveils banks and bankers that talk green but invest in climate killer coal fired power plants.
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