Substitution
Energy from renewable sources and the use of video conferencing instead of business air travel help to reduce greenhouse gas emissions at Credit Suisse.
Substitution is the continuation of normal business processes based on a more climate-friendly approach. Examples include:
- Energy consumption: we favor renewable sources such as hydropower, solar power and wind power. In 2007, we purchased around 200 million kWh of electricity from renewable sources – accounting for 34% of our global energy consumption. In Switzerland, this figure stood at 64%, making us one of the largest purchasers of 'green' electricity. For Credit Suisse to be recognized as greenhouse gas neutral, it is important that our energy supplier can confirm the ecological quality of its product by providing a recognized certificate. From 2008, Credit Suisse will meet all the electricity needs of its operational premises in Switzerland using energy from certified hydropower sources. Our offices in Frankfurt and London – two of our largest locations within Europe – also use electricity derived exclusively from renewable sources.
- The use of drive technologies such as hybrid systems or biogas as alternative forms of fuel is a criterion which is applied by Credit Suisse when evaluating new vehicles and when purchasing external transportation services.
- The intensified use of future-oriented energy sources (e.g. wood pellets) for heating systems. This energy is derived from renewable raw materials that do not impact the climate. In 2008, Credit Suisse implemented the first wood pellet heating system with state-of-the-art emissions technologies in a branch of Neue Aargauer Bank in Switzerland.
- The use of electronic communication means such as telephone and video conferencing instead of business travel is a substitution measure that also reduces costs and safeguards resources.
