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Company Response

21 Nov 2022

Author:
Credit Suisse

Credit Suisse response to Fair Finance report

... Indicators on the human rights situation of a country are part of the country risk ratings assigned by the Compliance function. In general, heightened attention is required when a client 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.

Credit Suisse therefore examines aspects of client relationships or transactions that are sensitive from a human rights perspective in our sustainability or reputational risk review processes. Both processes are supported by our industry-specific sector policies and risk appetite statements that contain specific provisions relating to human rights. For example, our Reputational Risk Appetite Statement for business with governmental ministries of sovereign states, or for state-owned entities, that takes into account the respective country’s political risk, financial crime risk and human rights and wider sustainability risk....

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