Positive Examples

Credit Suisse and UBS have only a very superficial commitment to human rights. UBS does not publish standards and guidelines, and Credit Suisse only provides a summary. In this way they avoid critical observation, and the quality of their standards cannot be discussed objectively.

A number of international banks are way ahead of the two large Swiss banks in terms of substance and transparence of their standards. Rabobank from the Netherlands has the most extensive position paper on human rights, supplementing a more general and shorter statement on human rights. The position paper explicitly refers to the Universal Declaration of Human Rights and the two binding covenants of 1966, as well as the ILO core labor standards and other human rights norms, including the ILO convention 169 about the rights of indigenous peoples. Rabobank also comments at length about issues such as forced labor, child labor, bad working conditions, and the rights of indigenous peoples.

Britain’s Barclays Bank also bases its statement on human rights on the most important human rights norms. Included among the four principles to which Barclays commits is the notion of restitution. The termination of business relations is explicitly mentioned as a possible outcome in the event of human rights abuses by a client.

Along with these two banks, Dutch banks Fortis and ABN AMRO also scored a 2 for human rights standards (on a scale from 0 to 5, with 5 at top) in the BankTrack-Network’s benchmark study "Close the Gap". This means their standards are more than vaguely worded declarations of intent and include at least half the elements that the BankTrack Network considers essential.

A number of other banks also publish their standards. The table below lists issue and sector standards. The latter are designed for industries where human rights issues are particularly relevant. All listed standards scored at least a 2 in the BankTrack-Network’s benchmark study "Close the Gap".

Industry/Issue Banks with published standards
Agriculture ANZ, Rabobank
Forestry, pulp, paper ANZ, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, HSBC, ING Group, JPMorgan Chase, Rabobank, Standard Chartered, WestLB
Indigenous people Morgan Stanley, JPMorgan Chase, Rabobank
Human rights ABN AMRO, Barclays, Fortis Bank, Nederland, Rabobank
Labor ABN AMRO, Barclays, Rabobank
Military industry and arms trade Barclays, BBVA, BNP Paribas, Deutsche Bank, Fortis Bank Nederland, ING Group, Intesa Sanpaolo, KBC, Natixis, Rabobank, RBS, Royal Bank of Canada, Standard Chartered, UniCredit Group
Mining Rabobank
Oil and gas Rabobank