Switzerland and its financial centre are fully committed to reducing greenhouse gas emissions to net zero by 2050. In this context, the continued and intense dialogue between the private sector and the government maintains a balance between market-driven solutions and a supporting regulatory framework, creating the optimal conditions to align financial flows with climate goals. The Swiss approach to sustainable finance not only has the potential to position Switzerland as an international leader in sustainable finance, but also offers concrete policy alternatives and complementary approaches to the more prescriptive and complex regulatory frameworks that are emerging worldwide.
Over the last year, some major initiatives have been introduced in Switzerland:
- Mandatory TCFD disclosures for large companies. The disclosures will be based ‘double materiality’ perspective and the first reporting is expected in 2024.
- The Swiss Climate Scores, presented in June 2022, provide institutional and private investors in Switzerland with comparable and meaningful information on the extent to which their financial investments are compatible with international climate goals.
- Self-regulation in the area of Sustainable Finance of the financial services industry.