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Credit Suisse Investors Push Bank to Cut Fossil-Fuel Financing

The bank plans to publish its 2021 corporate sustainability report on Thursday.

Credit Suisse headquarters in Zurich.

Credit Suisse headquarters in Zurich.

Photographer: Gianluca Colla/Bloomberg

A group of Credit Suisse Group AG shareholders filed a resolution urging the bank to disclose more on how it’s aligning its business with the 1.5° Celsius goal of the Paris climate agreement and how it will reduce its financing of fossil fuels to support that objective.

France’s Amundi SA and a group of Swiss pension funds have endorsed the proposal, which was coordinated by responsible-investment advocates at ShareAction and Ethos Foundation. The investors proposed an amendment that would require Credit Suisse to provide additional disclosures and publish information on the short-, medium- and long-term steps it plans to take to lower its exposure to coal, oil and gas assets.