Credit Suisse Group Reveals Its Ethical Side

by Philip Morton, Investors Offshore.com

29 May 2002

As part of an ongoing campaign to restore its tarnished reputation following a rash of scandals involving its investment banking arm, the Credit Suisse Group this week published a 'Sustainability Report', outlining the group's activities in 2001, and seeking to demonstrate its concern for the social, political, and ethical implications of its actions.

'It started off as an environmental report based on the fact that environment risk is a business risk for us,' Dr Bernd Schanzenbacher, Credit Suisse's Product Ecology Manager told the Swissinfo news service this week. 'But now we increasingly see that social and ethical issues are also posing risks to our business.'

The sustainability report points out that the Group is the first among its peers to offer clients the opportunity to invest in 'sustainable' organisations, using the Credit Suisse Stock Screener - an internet platform which rates internationally listed companies according to ecological, social and economic criteria - to inform their investment choice.

Speaking to Swissinfo on Tuesday, Credit Suisse Equity Analyst, Christine Frey observed that: 'It's the first time that private banking clients can directly analyse stocks and their portfolio according to sustainability criteria.'

Following the release of the report earlier this week, Credit Suisse Chief Executive, Lukas Muhlemann also cited the active role that the group has played in the international fight against money laundering another reason why customers should continue to have confidence in the financial service provider.

Recommended