2018 Winners – Distinction
Best Private Bank – Corporate Social Responsibility
In a bid to strengthen the foundation of its CSR culture, the bank updated its conduct and ethics standards which now comprise client focus, accountability, meritocracy, transparency, as well as a commitment to partnering and improving stakeholder management. Internally, some of these translated into effective employee engagement. Employees are also encouraged to support the bank’s external philanthropic efforts by taking up to four days a year to volunteer their time to social projects run by the bank’s partners. In 2018, the employee engagement rate in APAC reached 54% — the highest ever in Asia Pacific — and Credit Suisse, together with its staff, raised money for those affected by the Lombok earthquake, Kerala floods, and Indonesia tsunami in 2018.
Meanwhile, Credit Suisse continued to reduce its carbon footprint by having reduced its emissions by 41% in the last two years while having operated on a greenhouse gas neutral basis since 2010. The bank’s employees in APAC also established a ‘bring your own cup’ discount scheme last year and set about eliminating plastic straws, containers, and bags from on-premise coffee shops and canteens.
Internal efforts aside, Credit Suisse’s reputation as a CSR leader lies in its understanding that solving the world’s problems and tackling the SDGs requires teamwork and cooperation. For example, its Financial Education for Girls initiative — which affected almost 100,000 adolescent girls, nearly 3,500 teachers, and 1,495 schools across three continents — benefitted from a decade of collaboration with partners. Meanwhile in 2018, the bank entered into a three-year partnership with Habitat for Humanity to address inadequate housing among low-income residents of the Philippines and Indonesia — a project that is expected to affect 9,000 families.
With its unwavering commitment to its stakeholders near and far and its genuine desire to enact real and lasting change, Credit Suisse continues to set the standard for corporate citizenship across all industries.
Credit Suisse is Asian Private Banker’s Best Private Bank – Corporate Social Responsibility for 2018.