Credit Suisse Group Sustainability Reporting – Milestones and Indicators 2005

CREDIT SUISSE GROUP

The vision of Credit Suisse is to become the world’spremier bank, renowned for its expertise in investmentbanking, private banking and asset management, andmost valued for its advice, innovation and execution.

Our vision

Brand launch in Hong KongOn January 16, 2006, we launchedour new Credit Suisse brand andlogo worldwide. The facades ofCredit Suisse buildings in HongKong, London, New York, Singaporeand Zurich were illuminated for oneweek to celebrate the new brandand to reflect our global reach.

Credit Suisse Group Sustainability Reporting 2005 1

Contents2 Reporting 2005

4 Employees

6 Society

9 Environment

13 Clients and shareholders

17 GRI index

Reporting 2005

Sustainability reportingCredit Suisse Group has been continuously adapting its environmental reportingactivities in line with changing requirements since 1994 and published its firstSustainability Report in 2002.

The need for transparency has grown constantly over recent years, as has the wish formore targeted information among stakeholders. Credit Suisse Group therefore decidedto expand its sustainability reporting activities and now uses various tools to provideinformation about the way in which it responds to ecological and social challenges.

Further information is available on the Internet at: www.credit-suisse.com/responsibility.

Milestones and indicators 2005This annual review – “Milestones and Indicators 2005” – provides an overview ofenvironmentally and socially relevant activities and indicators in the course of last year.

This summary forms an integral part of Credit Suisse Group’s comprehensivesustainability reporting activities and is supplemented by the following information:

– Credit Suisse Group Business Review: The Business Review contains adiscussion of the company’s strategy and an insight into its different areas ofbusiness. It also provides details of its environmental and social commitments in thechapter “Credit Suisse Group and society”.

– Internet: Information about the underlying framework, international commitmentsand initiatives relating to sustainability is available on the Internet at: www.credit-suisse.com/responsibility. This webpage contains links to more detailed information,including special publications, articles and interviews.

Unless otherwise stated, the following information relates to the financial year 2005 andessentially refers to the activities of the whole of Credit Suisse Group (Credit Suisseand the insurance business of Winterthur).

Key figures and extensive information about Credit Suisse’s strategy, risk managementand corporate governance are available in the Credit Suisse Group Annual Report(www.credit-suisse.com/investors/en/reports/annual_reporting.html).

The GRI index1 at the end of this document summarizes the various sources ofinformation listed above and helps interested parties to locate specific information.

1 GRI = Global Reporting Initiative – an international standard for sustainability reporting

2 Credit Suisse Group Sustainability Reporting 2005

2005 review2005 was a year of change for Credit Suisse, as it underwent the transition to becomean integrated bank. At the same time, further efforts were made to incorporateenvironmental and social considerations into its business processes. This summaryprovides an overview of selected areas of focus, complemented by references to localinitiatives and measures.

One area of focus in 2005 – the UN Year of Microcredit – was Credit Suisse’scommitment to microfinance. Moreover, a pilot project aimed at achieving greenhousegas neutrality represented another milestone that should provide the company withfurther experience regarding the issue of climate change. Credit Suisse also continuedits dialog with various stakeholders. Here, interest focused on topics such as theEquator Principles in connection with project finance.

Measures in the field of employee training and development, as well as numerous localschemes to support charitable projects, are further examples of the broad range ofinitiatives and activities performed by the company. Various sustainability ratings andawards for individual initiatives, as well as Credit Suisse Group’s repeated inclusion inkey sustainability indexes, confirm the validity of its approach to sustainability.

Credit Suisse Group Sustainability Reporting 2005 3

Financial analysts

Products and ServicesEnvironmental Management

ISO 14001Philanthropy

Legal and ComplianceCode of ConductGlobal Compact

Supplier GuidelinesHR Policies

Health and Safety

Shareholders

Clients

Media

Local communities

Unions

Employees

Suppliers

Government

NGOs

Marketplace

Workplace

EN

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NTA

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SU

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ECONOMIC ISSUES SO

CIAL ISSUES

En

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ciety

This chart illustrates the interplay between the

different elements that Credit Suisse Group

uses to pursue a sustainable business policy.

It also shows the stakeholder groups with

which it maintains a dialog.

Employees

The ability to attract and retain well-qualified employees isbecoming an increasingly important factor for businesssuccess. Credit Suisse wants to offer its staff a stimulating,cross-cultural working environment, as well as attractivetraining and development opportunities. It uses variousmeasures to prevent discrimination and to promote equalopportunities for employees, who enable it to serve a diverse global clientele through their wide range ofexperience and perspectives.

TrainingLifelong learning is a key value at Credit Suisse. The bank can only achieve long-termsuccess and ensure future opportunities for its employees if it is able to adapt theirskills and abilities in line with changing requirements.

Social responsibility starts by providing job opportunities for young people. Over the last8 years, Credit Suisse in Switzerland has, on average, been able to fill 600 commercialand IT apprenticeships as well as 350 positions for high school and universitygraduates.

Credit Suisse Business School

Credit Suisse established Switzerland’s first corporate business school at the start of 2004 under

the motto “A passion to learn and perform”. Its objectives are to support the Group’s top

management in the implementation of strategy, to accelerate innovation, to promote young talent

and to deliver improvements in service quality. In 2005, a total of 45,137 employees attended

4,719 days of training at 3,469 events. The opening of Campus Asia in Singapore in 2005

represented an important step towards the training of managers for the Asian market.

Awards reflect high standards of training

At the end of April 2005, Credit Suisse became the first Swiss bank to receive the international

CLIP Award (Corporate Learning Improvement Process) for its business school. The certification

was performed by the renowned European Foundation for Management Development (EFMD) and

demonstrates that Credit Suisse has achieved the highest standards in the field of training.

Out of 60 applicants, the Business School had already achieved fourth place in the “Best New

Corporate University” category – an excellent result for which it was subsequently granted a Cubic

Award (Corporate University Best in Class).

4 Credit Suisse Group Sustainability Reporting 2005

Diversity and inclusionDiversity and inclusion can be defined as mutual understanding and cooperationbetween employees – irrespective of their race, nationality, gender, sexual orientation,religion or age – based on mutual respect. We foster diversity throughout our workforceas the wide-ranging experiences and perspectives offered by our people are a keydriver of our ability to provide innovative products and solutions to our global clientele.Dedicated internal units provide support in this area. In 2005, we focused on thefollowing measures:

– Diversity training: In interactive courses devoted to the subject of diversity andinclusion, Credit Suisse trained managers in how to successfully lead multiculturalteams and foster an inclusive environment to leverage the advantages of a diverseworkforce. The program has been implemented in the various regions. Similarlessons were also communicated at seminars and lunchtime events for employeesat different levels of the bank.

– Awards: Credit Suisse received various awards in recognition of its commitment topromoting diversity and inclusion in 2005. For example, Credit Suisse was namedone of the «100 Best Companies for Working Mothers» by the US magazine«Working Mother» for the third consecutive year. In the UK, Credit Suisse receivedrecognition for its efforts to support working parents from «Opportunity Now» – aninitiative to promote equality for women in business. Further recognition wasreceived in the form of a 100% rating on the US Human Rights Campaign’sCorporate Equality Index and a joint second-place ranking in Stonewall’s first-everannual Corporate Equality Index of the top 100 UK companies.

As a result of Credit Suisse’s global commitment to initiatives to support a diverseworkforce, the bank’s divisions are able to recruit and retain talented employees whoplay a key role in its future success. These initiatives include an intensive promotionreview process with a special focus on the advancement of women and under-represented populations, recruitment programs at universities and support for employeenetworks in the various regions. These networks include the Multicultural ResourceNetwork (MRN), the Open Network (LGBT), the Parents’ Network and Women’sNetwork.

See also: www.credit-suisse.com/responsibility/en/diversity.html

Employees (FTEs)Change in %

compared31.12.05 31.12.04 to 2004

Switzerland Banking 20,194 19,558 3

Insurance 5,928 6,147 (4)

Outside Switzerland Banking 24,370 21,606 13

Insurance 13,031 13,221 (1)

Total employees 63,523 60,532 5

Credit Suisse Group Sustainability Reporting 2005 5

Society

As a globally active financial services provider, Credit Suisseis connected to the economy and society in many differentways. It engages in a dialog with a variety of stakeholders –including regulators, politicians, international groups andnon-governmental organizations (NGOs) in addition to itsrelations with clients, employees and business partners. Thisdialog promotes mutual understanding and helps to ensurethat new trends are identified at an early stage. CreditSuisse also supports numerous humanitarian, cultural andcharitable organizations and thus helps to maintain a stableenvironment.

In dialog with societyIn 2005, Credit Suisse once again contributed to the formation of public opinionthrough the publication of various studies and analyses. Regional studies by theEconomic Research department offer an overview of economic trends in the Swisscantons, for example, while the “Sorgenbarometer” survey – which has been publishedannually by Credit Suisse since 1976 – once again revealed the issues which are ofgreatest concern to the Swiss public. Further studies about current aspects ofeconomic policy, such as family policy and the eastward expansion of the EU, met withconsiderable interest from the public.

Credit Suisse also conducts a dialog with NGOs. In February 2005, for example, itorganized an international conference at which the representatives of financial servicesproviders and NGOs discussed the further development of the Equator Principles.

Credit Suisse supports employees who exercise a political function in addition to theirwork. In 2005, the company organized a further meeting for those members of staffwho hold external mandates to promote the establishment of networks and to helpstrengthen sociopolitical commitment.

Commitment to culture, social causes and sportCredit Suisse is dependent on the existence of a stable environment for itself and itsemployees. It is therefore committed to improving the lot of disadvantaged people andto encouraging a rich cultural life. Based on this belief, Credit Suisse supported variousinitiatives in 2005, including the following projects:

– Freestyle Tour 2005: With its “Freestyle Tour 2005”, the Swiss Foundation forSocial Youth Projects (“Schtifti”) launched its third campaign to combat obesity,unhealthy eating and the lack of exercise among young people. Credit Suisse lentits support to the initiative as a tour partner, providing funding for the 38 events thatattracted more than 2,000 children and young people. One of the stops on the tourwas at Credit Suisse in Zurich, where apprentices were able to try their hand atvarious new sports such as street skating, slalom boarding and long boarding. Theyalso had an opportunity to learn about healthy eating.

– Promoting musical talent: Credit Suisse plays an important role as a sponsor inthe field of classical music and awards two prizes through its Jubilee Foundation tohelp extremely gifted young musicians to achieve the breakthrough to an

6 Credit Suisse Group Sustainability Reporting 2005

international career. The Credit Suisse Young Artist Award is presented every twoyears to outstanding young international soloists in recognition of exceptionalachievement. In alternate years, the Prix Credit Suisse Jeunes Solistes is presentedto support talented musicians from Switzerland. The current prizewinners are theTecchler Trio (Prix Credit Suisse Jeunes Solistes 2005) and the pianist MartinHelmchen (Credit Suisse Young Artist Award 2006).

– Continuation of the library initiative: Reading difficulties among children in stateprimary schools represent a major problem in New York City. Credit Suissetherefore plays a lead role in supporting the Robin Hood Foundation’s LibraryInitiative, which works in cooperation with schools in more deprived neighborhoodsto build or renovate functional school libraries and to provide them with suitablematerials and specialist staff. Credit Suisse was the main provider of funding for the31 libraries that have already been constructed and recently committed itself to afurther investment over 3 years to support Phase III of the Library Initiative, whichwill allow for the construction of 25 additional libraries throughout New York City.

As corporate volunteers, many employees lent a helping hand in their spare time torenovate playgrounds and community centers, clean up green spaces and parks, leadcraftwork projects with children, assist students with their homework, and mentorteenagers at the start of their careers.

See also: www.credit-suisse.com/responsibility/en/engagement.html

Sri Lanka: employees help Tsunami victims to build new homes

Following the devastating Tsunami at the end of 2004, Credit Suisse Group donated USD 1.5

million in emergency aid to various organizations to help the flood victims. It also made a further

USD 10 million available to help fund the long-term reconstruction efforts. In addition to this

financial support, 2 teams of 20 employees from across Credit Suisse provided direct help in the

affected areas through their work as volunteers.

In Galle, one of the regions of Sri Lanka that was worst hit by the Tsunami, the aid teams – in

partnership with Habitat for Humanity – helped families to construct new homes. For a week,

volunteers helped to produce concrete components, lay foundations, prepare timber, erect and

plaster concrete walls and build wooden roofs.

Through various charitable entities, Credit Suisse also provided emergency aid following the

earthquake in Kashmir, Hurricane Katrina in the US and the severe flooding in parts of Switzerland.

Credit Suisse Group Sustainability Reporting 2005 7

SponsorshipThrough its sponsorship commitments in the fields of sports and culture, Credit Suissehas contributed to the realization of numerous different projects over the years.Examples of its diverse activities in 2005 are included below:

– Main sponsor of the Swiss Football Association: Credit Suisse has been themain sponsor of the Swiss Football Association since 1993. It assigns particularimportance to the promotion of young talent – with half of its sponsorship moneybeing earmarked for the funding of programs to support gifted young players.Switzerland’s youth teams – the U19s, U20s and U21s – have played in all of themajor tournaments in recent years and the Swiss national football team hasqualified for the 2006 World Cup in Germany, representing a pleasing result forCredit Suisse.

– World Orchestra for Peace – The Credit Suisse Tour 2005: The WorldOrchestra for Peace, which was founded by the conductor Sir Georg Solti, bringstogether more than 80 leading international musicians to perform concerts aroundthe world, thus furthering the cause of peace. With financial support from CreditSuisse, the orchestra was able to celebrate its tenth anniversary with concerts inLondon, Berlin, Moscow and Beijing. This was Credit Suisse’s largest cross-bordercultural commitment in 2005.

Memberships

As a sign of its commitment to society and the environment, Credit Suisse Group was represented

in the following committees and initiatives in 2005:

– Asia Socially Responsible Investment Association (ASRIA)

– Business for Social Responsibility (BSR)

– Conference Board

– Energy Model of the Canton of Zurich and Switzerland

– Swiss Association for Environmentally Conscious Management («öbu»)

– UN Global Compact

– UNEP Finance Initiative

– UK Energy Efficiency Accreditation Scheme

8 Credit Suisse Group Sustainability Reporting 2005

Environment

Credit Suisse has taken account of environmental issues inits business activities since the beginning of the 1980s. Theintroduction of a company-wide Environmental ManagementSystem marked an important milestone in these efforts.

Environmental Management SystemIn 1997, Credit Suisse became the first bank worldwide to have an environmentalmanagement system certified under ISO 14001. The system, which has beendeveloped continuously ever since, governs the responsibilities, procedures and rulesrelating to the implementation of its operational environmental policy.

Following the annual control audit in 2005, the external certification company SGSconfirmed that Credit Suisse’s Environmental Management System continues to meetthe standards required by ISO 14001. The auditors made positive references, inparticular, to the successfully restructured procedure for the examination ofenvironmental risks in the lending business.

Environmental management indicatorsCredit Suisse Group headcount (31.12.2005) 63,523

Environmental specialists (in full-time posts) 1) 17

Employees trained in environmental issues 822

Training time (hours) 1,141

1) Including the corresponding fixed mandates of externals

Operational ecologyCredit Suisse is committed to continually reducing the environmental impact of itsoperations. Here, its main focus is on the reduction of energy consumption and theeconomical use of resources.

Examples of operational ecology measures implemented in 2005 include:

– Energy: Significant savings were generated at Credit Suisse premises inSwitzerland through energy-relevant projects in connection with the renovation ofbuildings (heating systems, refrigeration plants, air conditioning, lighting, thermalinsulation) as well as the realization of operational enhancements. The replacementof the remaining tube monitors with energy-saving flat screens also contributed toimproved energy efficiency.

– Green electricity: Credit Suisse in Switzerland substantially increased its proportionof green electricity for 2005-2007 by purchasing an additional 15 GWh of certifiedhydroelectricity (“naturemade star” label). This is in addition to the certified solarelectricity (310,000 kWh) that it has purchased annually since 2000.

– Water: The installation of water-saving tap fittings will reduce water consumption atpremises in Switzerland by around half in the future.

– Paper: The proportion of FSC-certified paper used in computing centers andoffices in Switzerland was further increased in 2005. Credit Suisse is thus making acontribution to the long-term conservation of the resources required to make paper.“FSC” stands for the “Forest Stewardship Council” – an organization promotingsocially and environmentally sustainable forestry practices.

Credit Suisse Group Sustainability Reporting 2005 9

In January 2005, Credit Suisse received an award from the New York State EnergyResearch and Development Authority for its efforts in the field of energy efficiency. Thiswas in recognition of the installation of an ice storage-based air conditioning systemthat allows for a reduction in peak energy consumption and thus makes a contributiontowards conserving energy supplies in New York City.

Together, all of these measures help to ensure the more conscious and efficienthandling of natural resources, as well as contributing to business success via costsavings.

Climate changeOne of Credit Suisse’s priorities for 2005 was to reduce its level of greenhouse gasemissions. As a milestone in its efforts to protect the climate, it has set itself the targetof running all of its business premises in Switzerland on a greenhouse gas neutral basisby the end of 2006 and using the insights it gains from this pilot project to extend thistarget to further parts of the company (see box).

– Climate Leader Award: Specialist units at Credit Suisse have been focusing onthe issue of operational energy efficiency for more than 25 years and have thusenabled the company to have a constant and positive direct impact on its emissionsof climate change gases. In a one-year comparison produced by The ClimateGroup, Credit Suisse achieved fifth place and received a Climate Leader Award atthe UN Climate Conference in Montreal in December 2005.

– Carbon Disclosure Project: In 2005, Credit Suisse joined the Carbon DisclosureProject for the third time in order to raise the issue of climate change in connectionwith banking services. This is an international initiative under which institutionalinvestors call on listed companies to disclose stock market-relevant information ongreenhouse gases and to thus increase transparency for investors.

Pilot project to achieve greenhouse gas neutrality

In 2005, Credit Suisse decided that it would run all of its operational premises in Switzerland on a

greenhouse gas neutral basis as part of a pilot project. It aims to realize this objective by:

1. Increasing efficiency through the optimization of operations at existing buildings and facilities;

2. Using new, energy-efficient technologies when renovating or constructing buildings;

3. Replacing oil and gas heating with heat pumps or district heating systems and using more

certified electricity from renewable sources (water power, solar power);

4. Purchasing greenhouse gas certificates.

As part of the same pilot project – which relates to around 20% of Credit Suisse Group’s total

greenhouse gas emissions – all air travel that is booked in Switzerland is structured in such a way

as to achieve greenhouse gas neutrality.

10 Credit Suisse Group Sustainability Reporting 2005

Operational ecology performance indicators – Switzerland% em-ployees Extra-covered Absolute polated Relative Changes

Corresponding Employees in figures Data figures figures relativeIndicators 1) GRI Indicators covered 2) system 2005 3) quality 4) 2005 5) 2005 to 2004 6)

25,604 100%

1) Total premises energy consumption in MJ (MJ per employee) (EN 3) 1,112,558,350 3 1,181,908,164 46,161 1%

1a) Electricity consumed in premises in MJ (MJ per empl.) 25,604 100% 738,000,000 3 738,000,000 28,824

Electricity from hydroelectric power stations 481,590,000 481,590,000

Electricity from photovoltaic power stations 1,153,800 1,153,800

Electricity generated by nuclear power stations 147,600,000 147,600,000

Electricity from average market mix 107,656,200 107,656,200

1b) Fossil fuels consumed in premises in MJ (MJ per empl.) 21,604 84% 305,054,950 2 361,536,147 14,120

Natural gas 199,513,375 236,453,456

heating oil 105,541,574 125,082,692

1c) Other energy consumed in premises im MJ (district heating) (MJ per empl.) 21,604 84% 69,503,400 2 82,372,017 3,217

2) Total business travel in km (air travel) (km per empl.) EN 34 25,604 100% 87,206,970 2 87,206,970 3,406 58% 7)

3) Total paper consumption in tons (kg per empl.) (EN1) 25,604 100% 5,174 3 5,174 202 6%

3a) Post-consumer recycled 60 60

3b) New fibers ECF + TCF 5,114 5,114

3c) FSC-labelled paper (%) 44% 44%

4) Total water consumption in m3 (drinking water) (liter per empl.) EN 5 21,604 84% 605,507 3 717,617 28,028 (3%)

5) Total waste in tons (kg per empl.) EN 11 21,604 84% 5,948 3 7,050 275 (1%)

5a) Valuable materials separated and recycled 3,812 4,518

5b) Waste incinerated 1,951 2,312

5c) waste disposed of in landfills 0 0

5d) Hazardous waste 185 220

6) Direct and indirect energy in MJ (MJ per empl.) 25,604 100% not summable _

6a) Direct energy use EN 3 1,181,908,164 46,161

6b) Indirect energy use EN 4 1,849,191,348 72,223

6c) Other indirect energy use EN 19 572,260,850 22,350

7) Direct and indirect GHG emissions of 6) in tons (kg per empl.) 25,604 100% 75,837 2,962 3%

7a) GHG emissions of direct energy use (6a) EN 8 22,192 867

7b) GHG emissions of indirect energy use (6b) EN 8 20,011 782

7c) GHG emissions of other indirect energy use (6c) EN 30 33,634 1,314

Credit Suisse Group Sustainability Reporting 2005 11

Operational ecology performance indicators – international banking sites% em-ployees Extra-covered Absolute polated Relative Changes

Corresponding Employees in figures Data figures figures relativeIndicators 1) GRI Indicators covered 2) system 2005 3) quality 4) 2005 5) 2005 to 2004 6)

24,359 100%

1) Total internal energy consumption in MJ (MJ per employee) (EN 3) 1,070,663,386 3 1,406,964,388 57,760 (2%)

1a) Electricity consumed internally in MJ (MJ per empl.) from average market mix 18,613 76% 1,008,909,227 3 1,320,373,690 54,205

Electricity from hydroelectric power stations 15,776,438 20,646,847

Electricity from wind power stations 29,430 38,515

Electricity generated by gas-fired power stations 40,466,275 52,958,783

Electricity generated by oil-fired power stations 5,194,368 6,797,942

Electricity generated by coal-fired power stations 96,554,257 126,361,914

Electricity generated by nuclear power stations 447,823,660 586,073,120

Electricity from average market mix 403,064,798 527,496,569

1b) Fossil fuels consumed internally in MJ (MJ per empl.) 17,372 71% 58,568,342 2 82,123,597 3,371

Natural gas 57,875,332 81,151,868

Heating oil 693,011 971,729

1c) Other energy consumed internally im MJ (district heating)(MJ per empl.) 17,372 71% 3,185,816 2 4,467,101 183

2) Total business travel in km (air travel)(km per empl.) EN 34 24,359 100% 460,978,381 2 460,978,381 18,924 (11%)8)

3) Total paper consumption in tons (kg per empl.) (EN1) 18,132 74% 2,724 2 3,659 150 (7%)

3a) Post-consumer recycled 0 0

3b) New fibers ECF+TCF + 3c) new fibres chlorine bleached 2,724 3,659

3c) FSC-labelled paper (%) 6% 6%

4) Total water consumption in m3 (drinking water) (liter per empl.) EN 5 17,106 70% 786,829 2 1,120,464 45,998 (9%)

5) Total waste in tons (kg per empl.) EN 11 14,177 58% 6,236 2 10,714 440 (13%)

5a) Valuable materials separated and recycled 1,856 3,190

5b) Waste incinerated 0 0

5c) Waste disposed of in landfills 4,339 7,455

5d) Hazardous waste 40 69

6) Direct and indirect energy in MJ (MJ per empl.) 24,359 100% not summable

6a) Direct energy use EN 3 1,406,964,388 57,760

6b) Indirect energy use EN 4 4,630,573,041 190,097

6c) Other indirect energy use EN 19 1,722,240,143 70,702

7) Direct and indirect GHG emissions of 6) in tons (kg per empl.) 24,359 100% 261,274 10,726 (22%)9)

7a) GHG emissions of direct energy use (6a) EN 8 4,621 190

7b) GHG emissions of indirect energy use (6b) EN 8 130,622 5,362

7c) GHG emissions of other indirect energy use (6c) EN 30 126,031 5,174

1) Indicators are reported according to „VfU Indicators 2005 Report“. CSG was a participant in the project (see www.epifinance.com -> VfU Indicators 2005). 2) Data as FullTime Equivalent (FTE). Change compared to 2004: Increase of 1.5% for the system Switzerland and increase of 12.8% for international banking sites. 3) The absolut figuresrefer to the corresponding FTEs and are not extrapolated to a 100% system. 4) Data quality: 0: data not reported; 1: data based on rough estimate; 2: data based oncalculation / detailed estimate; 3: data based on exact measurement by, e.g. bill or meter. 5) The extrapolated figures are extrapolated to a 100% system. 6) This columnshows the changes of the relative data in comparison to previous year 2004 (note: 2004 figures were partially updated as a result of improved energy and paper data recentlymade available). 7) The coordination of the organisation for the new One Bank Strategy from the Swiss headquarters led to an increase in internal air travel. 8) Decrease in airtravel for International Banking Sites is partially a result of an increase in the use of videoconferencing (there was an increase of 14% in videoconferencing hours worldwidebetween 2004 and 2005). 9) The decrease in GHG emissions resulted largely from improved data collection regarding electricity consumption from power providers in thethree regions Americas, Asia and Europe. In 2005 for the first time the detailed source of electricity was provided, which led to a more precise calculation of GHG emissionper energy source.

12 Credit Suisse Group Sustainability Reporting 2005

Clients and shareholders

It is now more important than ever for companies to listen tothe market and to draw the right conclusions in order toidentify client needs, continuously develop their product andservice offering and ensure the irreproachable managementof the business at all times.

A variety of initiatives in the UN Year of Microcredit 2005

In recent years, a new development cooperation initiative referred to as “microfinance” has become

an increasingly powerful force for change. Microfinance involves granting loans – often as small as

USD 50 – to enable very small businesses to become established or to significantly increase the

profitability of their activities. The United Nations also regards microfinance as a key tool for the

alleviation of poverty in developing countries and therefore declared 2005 to be the Year of

Microcredit.

In 2003, Credit Suisse joined with other representatives of the Swiss financial services industry to

establish responsAbility AG, which aims to bridge the gap between the financial market and

development cooperation. The responsAbility Microfinance Fund is an innovative investment concept

that generates social benefits as well as financial returns.

In 2005, Credit Suisse organized various events in Geneva, New York and Zurich to explore the

subject in greater detail and to bring it to the attention of a broader public.

Credit Suisse’s longstanding financial support for Swisscontact – the development organization

established by the Swiss business sector – is another way in which it helps to promote financial

services for small and medium-sized companies. For example, Credit Suisse supported a

Swisscontact project to set up savings and credit cooperatives in rural areas of Ecuador.

Innovative productsWithin the full range of products offered by Credit Suisse to meet the needs of a broadspectrum of clients, environmentally and socially-oriented investments represent only asmall yet innovative area.

2005 saw the launch of a number of new products and services with a focus onsustainability:

– Energy: Credit Suisse launched an Alternative Energy Basket in 2005. As suppliesof natural resources become increasingly scarce, this product enables people toinvest in alternative energies such as fuel cells and solar and wind energy.

– Water as an investment theme: More than 70% of the earth’s surface is waterbut only around 1% of this water can be used by humans. At the same time, theconsumption of water is increasing rapidly. Moreover, the water infrastructure inmany parts of Europe and the US is old and in dire need of renovation, while it hasyet to be built in certain regions of Asia. In short, water is becoming an importanttopic of the future – not only for companies that are active in the areas of watertreatment, desalination and water infrastructure but also for investors. Together withtwo other providers, Credit Suisse has therefore issued a certificate on the GlobalWater Basket. This equity basket contains around 25 companies that operate indifferent areas of the water industry.

Credit Suisse Group Sustainability Reporting 2005 13

– Charity Notes: The first Charity Notes were launched in fall 2005. These productsenable investors to generate a return while simultaneously supporting a charitablecause. In conjunction with the charitable foundation Symphasis, a specificproportion of the revenues from Charity Notes are donated to selected projects tohelp combat youth unemployment in Switzerland.

– Investments that comply with Sharia law: Under Islamic law, practicing Muslimsare prohibited from asking for interest on their money. Moreover, investmentscannot be made in areas of business that are ethically unacceptable under Sharialaw. Credit Suisse has its own Sharia Advisory Committee that ensures compliancewith these rules. The company has – upon request – been offering its privatebanking clients specially tailored investment mandates and investment products thatcomply with Sharia regulations for several years.

– Easier access to equity capital for small and medium-sized companies:Two innovative corporate financing products created by Credit Suisse in 2005 nowprovide small and medium-sized companies in Switzerland, as well as larger firms,with easy access to quasi-equity financing. CSA Mezzanine and PREPSTM(Preferred Pooled Shares) enable companies to finance their growth without anyimpact on their ownership structure. These products also represent an attractivesegment for investors.

Assets under green management/assets under management with high social benefitsNotes

Credit Suisse Group assets under management in CHF bn 1,484 (as of 31.12.2005)

Assets under green management/assets with high social benefits in CHF m 875 CS GlobalSustainability Fund,

CS FellowshipFund, etc.

14 Credit Suisse Group Sustainability Reporting 2005

In dialog with clientsPersonal contact plays a vital role in Credit Suisse’s dialog with its clients. In addition,Credit Suisse provides information about current economic and social issues, as well astrends and developments in the financial markets, in its various publications.

These publications include “Bulletin” – the world’s oldest magazine for bank clients,which has received numerous awards – as well as “Credit Suisse emagazine”, an onlinemagazine featuring background reports, videos and interviews about economic, culturaland sporting issues each week.

In addition to the investor magazine “Global Investor”, further examples of publicationsinclude the special issues of “Global Investor Focus”, which examine special topics ofglobal importance or key future trends. These publications are also aimed atestablishing a dialog with external specialists in order to offer the broadest and mostvaried range of knowledge possible. In 2005, the publication placed a spotlight on theissues of microfinance, nanotechnology and energy.

Due diligence requirementsCredit Suisse can only perform its function as a financial services provider if it meets thehighest standards of credibility and trust. It has therefore repeatedly taken part ininitiatives relating to the development of guidelines for environmental and social aspectsof business processes.

– Who Cares Wins: At the invitation of the UN Secretary-General Kofi Annan, 12international financial institutions – including Credit Suisse – signed up to the “WhoCares Wins” initiative in 2004. This initiative is aimed at improving the integration ofenvironmental, social and governance issues in the international financial markets.As a result of this initiative, guidelines and recommendations to better integratethese issues in asset management, securities brokerage and analysis werepresented at the UN Global Compact summit in June 2005.

– Equator Principles: The Equator Principles are a voluntary agreement betweeninternational financial services providers. The Principles define a common approachwith which to address ecological and social risks in project finance, based on WorldBank guidelines. Projects are assigned to the risk categories A – C and furtherclarification and measures are required, depending on the degree of risk involved1.

Credit Suisse is one of the ten financial services providers that signed up to theEquator Principles in 2003. By the end of 2005, 38 financial institutions worldwidehad pledged to uphold these principles. International discussions are currently beingheld with regard to the further development of the Equator Principles.

Equator Principles1 transactions in 2005: Value

Number (in USD m)

Transactions approved 34 1,011

By category

Category A 0 0

Category B 9 614

Category C 25 397

1 see also: www.equator-principles.com

Credit Suisse Group Sustainability Reporting 2005 15

Sustainability ratingsAn increasing number of investors are now basing their investment decisions onsustainability criteria in addition to traditional financial data. Specialized rating agenciesand index providers supply them with the information they require.

In 2005, several rating agencies and index providers once again rated Credit SuisseGroup as “best in class” in the area of sustainability. The Credit Suisse Group share wastherefore once again included in key sustainability indexes such as the Dow JonesSustainability World Index and the FTSE4Good Index in 2005. The Credit Suisse Groupshare is also included in various sustainability-oriented investment funds.

Sustainability ratings

– Centre Info SiRi (CH): corporate sustainability score 73.1

(industry average 48.1)

– oekom research (DE): Corporate Responsibility Rating: C+

(rating scale: A+; A; A-; B+; B; B-; C+; C; C-; D+; D; D-)

– Morley Fund Management (UK): Sustainability Matrix ranking: C2

(rating scale: A1–E5)

Sustainability stock indexes

– Dow Jones STOXX Sustainability Indexes (USA/CH)

– Dow Jones Sustainability World Index (USA/CH)

– FTSE4Good Indexes (UK)

Socially responsible investment vehicles

(A selection of investment funds that contain the CSG share)

– Aviva Funds European Socially Responsible Equity Fund (LU)

– Calvert World Values International Equity Fund (US)

– Dexia Allocation Sustainable World (B)

– Ethical Balanced Fund (CA)

– Fortis SRI Europe (B)

– HSBC Trinkhaus SAM Sustainable Corp. Bond (UK)

– Pictet Sustainable Equities – Switzerland

– Raiffeisen Futura Swiss Stock

– SEB Invest ÖkoLux (LU)

– Storebrand Env. Value Fund (NO)

– UBS Eco Performance Funds (CH)

16 Credit Suisse Group Sustainability Reporting 2005

GRI index1

1 Vision and strategy1.1 Sustainability vision and strategy Internet CR1.2 CEO statement Internet CR

2 Profile

Organizational profile2.1 Name of reporting organization AR/Cover2.2 Major products and/or services AR/18–302.3 Operational structure AR/10–112.4 Organizational structure AR/18–302.5 Countries in which operations are located AR2.6 Nature of ownership AR/10,199–2002.7 Nature of markets served AR/18–302.8 Organization scale AR2.9 List of stakeholders Internet CR

Report scope2.10 Contact person(s) for the report p. 212.11 Reporting period p. 22.12 Date of previous report Internet CR2.13 Boundaries of report p. 22.14 Organizational changes since previous report AR/11–172.15 Reporting on joint ventures etc. AR/179–1832.16 Re-statements AR/11–17

Report profile2.17 Decision on application of GRI p. 22.18 Criteria / definitions used p. 17, 182.19 Changes in measurement methods *2.20 Policies and internal practices for assurance *2.21 Independent assurance *2.22 Additional information p. 2

3 Governance structure and management systems

Structure and governance3.1 Governance structure AR/197–2323.2 Percentage of independent BoD members AR/201–2023.3 Expertise of Board members Internet CR3.4 Board-level processes for overseeing

(sustainability) management Internet CR3.5 Executive compensation and

non-financial goals AR/225–2273.6 SD implementation Internet CR3.7 Mission and sustainability values

statements Internet CR3.8 Mechanisms for shareholders to provide

recommendations to BoD AR/227–229

Stakeholder engagement3.9 Basis for stakeholder identification Internet CR3.10 Approaches to stakeholder consultation Internet CR3.11 Information generated by stakeholder

consultations Internet CR3.12 Use of information resulting from

stakeholder engagements Internet CR

Overarching policies and management systems3.13 Explanation of precautionary approach Internet CR3.14 Externally developed voluntary charters Internet CR3.15 Principal memberships in industry and

business associations p. 83.16 Policies for managing supply chain etc. Internet CR3.17 Approach to managing indirect impacts Internet CR3.18 Major decisions regarding changes in

operations AR/18–303.19 Programs and procedures relating

to sustainability performance Internet CR3.20 Status of certification *

Economic performance indicators

ClientsEC1 Net sales AR/96EC2 Geographic breakdown of markets AR/123

SuppliersEC3 Procurement spending AR/125EC4 Percentage of contracts paid in accordance with

agreed terms *

EmployeesEC5 Total staff costs AR/125

EC6 Distributions to capital providers AR/187,195EC7 Change in retained earnings AR/34–35

Public sectorEC8 Taxes paid AR/146–148EC9 Subsidies received n.r.EC10 Donations Internet CR

Environmental performance indicatorsEN1 Total materials used other than water p. 11, 12EN2 Percentage of recycled materials used p. 11, 12EN3 Direct energy use p. 11, 12EN4 Indirect energy use p. 11, 12EN5 Total water use p. 11, 12EN6 Land in biodiversity-rich habitats n.r.EN7 Impacts on biodiversity n.r.EN8 Greenhouse gas emissions p. 11, 12EN9 Ozone-depleting substances n.i.EN10 NOx, SOx, and other air emissions n.i.EN11 Total amount of waste p. 11, 12EN12 Significant discharges to water n.i.EN13 Significant spills of chemicals, oils and fuels n.i.EN14 Env. impacts of products and services p. 15EN15 Percentage of the weight of products sold

that is reclaimable n.r.EN16 Incidents of non-compliance 20-F/67–72

Credit Suisse Group Sustainability Reporting 2005 17

Social performance indicators

Labor practicesLA1 Breakdown of workforce AR/232LA2 Net employment creation and

average turnover AR/232 LA3 Employee representation by unions AR/232LA4 Policy and procedures for restructuring *LA5 Recording and notification of

occupational accidents *LA6 Health and safety committees *LA7 Absentee rates n.i.LA8 Policies or programs relating to HIV/AIDS n.i.LA9 Training per employee p. 4LA10 Equal opportunity policies or

programs and monitoring systems p. 5LA11 Composition of senior management

and corporate governance bodies AR/206–223

Human rightsHR1 Policies and procedures to deal with

human rights aspects Internet CRHR2 Consideration of human rights

impacts in decisions Internet CRHR3 Human rights performance

within the supply chain Internet CRHR4 Non-discrimination Internet CRHR5 Freedom of association policy Internet CRHR6 Policy excluding child labor Internet CRHR7 Forced and compulsory labor Internet CR

SocietySO1 Policies to manage impacts on communities

in areas affected Internet CRSO2 Policy and procedures addressing bribery

and corruption Internet CRSO3 Political lobbying and contributions Internet CRSO4 Awards received relevant to social,

ethical and environmental performance p. 4, 5, 10

Client health and safetyPR1 Policy preserving client health and safety n.r.PR2 Product information and labeling n.i.PR3 Consumer privacy Internet CR

1 GRI Index: list of Global Reporting Initiative (GRI) performance indicators.The GRI guidelines (Global Reporting Initiative) and the supplementaryguidelines for the finance industry (SPI, EPI) serve as an index for thestandardization of sustainability reporting (see also: www.globalreporting.org)

18 Credit Suisse Group Sustainability Reporting 2005

GRI – Financial servicessector supplements

Social performance indicators (SPI)

CSR managementCSR1 CSR policy Internet CRCSR2 CSR organization Internet CRCSR3 CSR audits n.i.CSR4 Management of sensitive issues AR/70–92

20-F/4–21Internet CR

CSR5 Non-compliance 20-F/67–72CSR6 Dialog with stakeholders Internet CR

Internal social performanceINT1 Internal CSR policy Internet CRINT2 Staff turnover and job creation AR/232INT3 Employee satisfaction *INT4 Senior management remuneration AR/152–156INT5 Bonuses fostering sustainable success AR/225–227INT6 Female-male salary ratio n.i.INT7 Employee profile AR/232

Commitment to societySOC1 Charitable contributions Internet CR

SuppliersSUP1 Screening of major suppliers Internet CR

Retail bankingRB1 Retail banking policy *RB2 Lending profile AR/132RB3 Lending with high social benefits n.i.

Asset under managementAM2 Assets under management with

high social benefits p. 14

Environmental performance indicators (EPI)

Management indicators1a Number of posts in the business sector p. 91c Specialized environmental posts p. 92a Employees trained in env. management p. 92b Training time (hours) p. 9

Commercial banking4a Total lendings AR/1324c Loans with preliminary env. examination *

Asset under management4a Assets under management p. 144b,c Assets under green management p. 14

Legends:Internet CR Corporate Responsibility webpages

(www.credit-suisse.com/responsibility)AR Credit Suisse Group Annual Reportp. X Page in the corresponding documentn.r. Not relevant* See explanations on page 20n.i. No information available

(data not recorded or reported)

Credit Suisse Group Sustainability Reporting 2005 19

Explanation of individual indicators 2.19 In principle, the same measuring methods have been used as in previous

Sustainability Reports. See also the footnotes on p. 12.

2.20, 2.21, 3.20 Internal processes relating to the Environmental Management System are examinedby the external certification company SGS-ICS each year as part of the auditing ofthe Environmental Management System according to ISO 14001.

The operational ecology data that are published each year in the MIB AG report arealso validated by SGS-ICS.

EC4 «We seek mutually beneficial relationships with contractors, suppliers and jointventure partners […]» (Credit Suisse Group, Code of Conduct – responsibilitytowards service providers)

LA4 The representation of employee interests vis-à-vis management is the responsibilityof the Staff Council in Switzerland and the European Works Council at a pan-European level. If restructuring and redundancies are unavoidable, Credit Suissetries to implement these measures in a responsible, fair and consistent manner,taking the individual circumstances of the affected employees into consideration. Focus is placed on providing individual support and personal advice to help theemployees start a new career. We offer staff time, tools and professional support.

LA 5, 6 Credit Suisse takes every measure that is reasonably practicable – and in line withapplicable legislation – to protect the health of employees and ensure their safetywhile they are at work. To promote the health and wellbeing of staff, Credit Suisseprovides attractive and comprehensive offerings relating to exercise, nutrition andrelaxation.

INT 3 Employee surveys are carried out at varying intervals at division level or in smallerorganizational units and are performed regularly throughout the company. Thesesurveys, interviews and processes are designed to highlight new developments and employee concerns as well as areas where action is required. In general, Credit Suisse is regarded as an attractive employer.

RB1 Extract from the Global Credit Risk Policy:

– No credit business will be transacted with undesirable borrowers, definedspecifically as: those who operate outside the law or established agreements[...]; those suspected of laundering money; those whose conduct with regard tothe disclosure of information or unwillingness to release information makes itdifficult or impossible to assess their creditworthiness and solvency or causescredit concerns.

– Each credit application has to be legally, ethically and ecologically justifiable.

4c All loans are examined for environmental risks.

20 Credit Suisse Group Sustainability Reporting 2005

CREDIT SUISSEPublic Policy – Sustainability Affairs8070 ZurichSwitzerland

www.credit-suisse.com June

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