Swiss Climate Scores improving transparency and climate compatibility

The Federal Council today announced an evolution of the Swiss Climate Scores, which were introduced in June 2022. The Swiss Bankers Association (SBA) is actively encouraging the banking industry to use the Scores, a set of indicators that allow climate-conscious investors to make informed investment decisions. The financial sector is currently in the process of implementing the Scores in support of the Federal Council’s goal of making Switzerland a leading hub for sustainable finance.

Switzerland and its financial centre are fully committed to the target of reducing greenhouse gas emissions to net zero by 2050, in line with the goals of the Paris Agreement on climate change. The federal government introduced an important instrument for achieving this in June 2022: the Swiss Climate Scores, which deliver transparency and comparability with regard to the Paris alignment of financial investments in an easy-to-understand way and allow climate-conscious investors to make informed investment decisions. This puts Switzerland at the forefront of a global movement, positioning it as the first choice for Swiss and foreign investors seeking to invest sustainably.

Use of the Scores is voluntary for financial institutions, but the indicators provide a common framework to guide them and actively prevent greenwashing. Following a pilot phase during which valuable experience was amassed that has flowed into the further development of the Scores, many companies that offer financial investments have now begun to implement them. A number of large providers are among the early adopters, and others are set to follow very soon. The initiative thus enjoys widespread backing within the financial sector, which is confident that the Scores also have great potential from an international perspective.

As a major international financial centre, Switzerland has ample opportunities to raise awareness among investors and encourage greater transparency on the Paris alignment of financial investments. In addition to the Swiss Climate Scores, the Swiss financial centre has launched a series of sector initiatives designed to progressively enhance its status as a hub for sustainable finance as well as its overall credibility. They include the SBA recommending that its members participate in net-zero initiatives that are appropriate to their business models and self-regulation on sustainable finance that explicitly targets greenwashing.

Sustainable finance

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Dagmar Laub
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