Digital library on sustainable finance
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The Federal Council names five key thrusts of the financial market policy, which demonstrate how the Swiss financial centre's opportunities and challenges will be addressed and how the centre's competitiveness should be maintained. The chapter on "innovation" states that the financial market policy should play a supportive role also in the area of sustainable investments.
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Financial market policy for a competitive Swiss financial centre - DE
Financial market policy for a competitive Swiss financial centre - FR
Financial market policy for a competitive Swiss financial centre - IT
Financial market policy for a competitive Swiss financial centre - EN
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This paper gives an overview of the most relevant sustainable finance trends and initiatives, focusing on sustainable investing. It explains the important role of the financial regulator in advancing sustainable financial markets. The purpose of this publication is to provide a brief overview and to stimulate further discussion and interest.
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Beyond growth: Sustainability of our planet - Private sector finance initiatives - EN
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This guidance document sets out remunderation policy guidelines that apply to management companies and investment companies under the Undertakings for Collective Investments in Transferable Securities (Ucits).
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Guidelines on sound remuneration policies under the UCITS Directive - IT
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Chapter 6.9 focusses on voluntary measures that the financial sector could undertake to re-orient the capital flows towards a low-carbon economy.
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Swiss Climate Policy revision linked to Paris Agreement - DE
Swiss Climate Policy revision linked to Paris Agreement - FR
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This annual study aims to provide an overview on market trends and peer group analysis on microfinance offshore investments. This 10th edition, is based on December 2015 financial and social performance indicators reported by nearly all microfinance investment vehicles (MIVs). It concludes that the the 93 participating MIV's had USD 11 billion AuM; thus nearly quintupled over the last 10 years.
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This report suggests 5 steps to transform tomorrow's global financial system to include financing for sustainable development. This is in light of the 2030 Agenda for Sustainable Development and the Paris Agreement, as they are the most ambitious multilateral goals ever agreed on. The steps range from financial market reform to mobilizing technology to building capabilities, tools and standards.
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Financing Sustainable Development - Moving from momentum to transformation in a time of turmoil - EN
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This report provides a picture of sustainability initiatives implemented by stock exchanges and regulatory bodies around the world. It seeks to highlight current good practices, trends, opportunities and challenges.
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This BlackRock study details how investors can mitigate climate risks, exploit opportunities or have a positive impact. They conclude that climate-aware investing is possible without compromising on traditional goals of maximizing investment returns.
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Adapting portfolios to climate change - Implications and strategies for all investors - EN
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There is an urgent need to mobilise unprecedented resources to achieve the ambitious Sustainable Development Goals (SDGs). The private sector can be a powerful promoter of sustainable development. Companies provide jobs, infrastructure, innovation and social services, among others. Increasingly, investments in developing countries – even in the least developed countries – are seen as business opportunities, despite the risks involved. The public sector can leverage the private sector contribution, helping to manage risk and providing insights into effective policy and practice. The Development Co-operation Report 2016 explores the potential and challenges of investing in developing countries, in particular through social impact investment, blended finance and foreign direct investment.
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In this White Paper, the authors take stock of sustainable finance in Switzerland. They characterize potential drivers of sustainability and also discuss business interests and challenges related to incorporating sustainability considerations into the activities of Swiss financial sector players. Their analysis suggests that, apart from a range of specialized institutions and initiatives, the Swiss financial sector as a whole is currently not an international leader in terms of sustainable finance. An important implication of their study is that more high-level endorsement, leadership, and decisive action by all the major players of the Swiss financial sector is needed in order to strengthen Switzerland’s international position in the sustainable finance world.
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Swiss Finance Institute White Paper - Sustainable Finance in Switzerland: Where do we stand? - EN
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Die 8. Ausgabe der zRating-Studie zu Corporate Governance in Schweizer Publikumsgesellschaften hat die Corporate Governance von 171 börsenkotierten Schweizer Gesellschaften anhand von 62 Kriterien analysiert.
Geberit steht vor Ascom an der Spitze der diesjährigen Rangliste.
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Das BMF hat ein Gutachten über Auswirkungen des Klimawandels auf den deutschen Finanzsektor in Auftrag gegeben.
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This report highlights the connection between measuring the social and environmental performance of impact investments and the application of these data to generate business value for investors and investees. 30 practitioners were interviewed for this report who provided detailed insights into how they maximize impact based on social and environmental KPIs.
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Since it was introduced in 2002, the “Swiss Code of Best Practice for Corporate Governance” has strongly influenced the development of corporate governance in Switzerland and has proven to be an effective instrument of self-regulation.
It emphasises in particular the concept of sustainable corporate success as the lodestar of sensible “corporate social responsibility”. It also prescribes specific modifications to the composition of the Board of Directors (including representation of women) and to risk management (incl. compliance).
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Swiss code of best practice for corporate governance - DE
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This report outlines concerns and needs of developing countries in relation to green finance. In particular the report focuses on the particular challenges faced by developing countries due to their underdeveloped financial systems.
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In this issue, close attention is paid to the 2016 proxy voting season. With levels of voting by long-term investors on the rise, issues such as climate resolutions, gender equality and environmentally friendly infrastructure are gaining more attention amongst shareholders.
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The Swiss Confederation considers the 2030 Agenda for Sustainable Development a unique opportunity to strengthen and to boost sustainable development at all levels: global, regional, national, and subnational. It therefore took an active role in the international process from 2013 to 2015 to draw up the universal Sustainable Development Goals (SDGs), the means of implementation and financing framework (Addis Ababa Action Agenda), as well as an effective follow-up and review system. Other Swiss key concerns in the negotiation process were, and will remain for the future, that the new goals integrate the social, economic and environmental dimensions in a balanced manner and take account of the interlinkages between them.
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The Climate Bonds Initiative released their 2016 market report on “climate-aligned bonds”. It was found that the market is still dominated by non-labelled climate-aligned bonds as opposed to Green Bonds with an estimated $694 bn of climate-aligned bonds outstanding, an increase of $96 bn compared to a year ago.
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Bonds and Climate Change – The state of the market in 2016 - EN
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The G20 Green Finance Study Group (GFSG) work supports the G20's strategic goal of strong, sustainable and balanced growth. The GFSG was established to explore how to funnel tens of trillions of dollars in order to scale up green finance. This study summarizes 14 input papers and establishes a number of options for the G20 and country authorities for consideration for voluntary adoption, to enhance the ability of the financial system to mobilize private capital for green investment. This paper was presented at the G20 event in September 2016.
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This guide was published along side the new DC code of practice no. 13. It provides guidance to pension schemes mandating that trustees should take into account factors that are financially material to any investment’s performance – such as the effects of climate change – and that ESG and ethical factors can be included if trustees also believe them to be significant.
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Guide to Investment Governance (to be read alongside our DC code of practice no. 13) - EN
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Abstract: Using newly-available materiality classifications of sustainability topics, we develop a novel dataset by hand-mapping sustainability investments classified as material for each industry into firm-specific sustainability ratings. This allows us to present new evidence on the value implications of sustainability investments. Using both calendar-time portfolio stock return regressions and firm-level panel regressions we find that firms with good ratings on material sustainability issues significantly outperform firms with poor ratings on these issues. In contrast, firms with good ratings on immaterial sustainability issues do not significantly outperform firms with poor ratings on the same issues. These results are confirmed when we analyze future changes in accounting performance. The results have implications for asset managers who have committed to the integration of sustainability factors in their capital allocation decisions.
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Corporate Sustainability: First Evidence on Materiality - EN
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In this report, a group of experts from the financial sector, NGOs, academia and government authorities in Switzerland identifies the most important concrete measures for creating a (more) sustainable financial system in Switzerland. The experts believe that now is the perfect time to debate the measures and to take action and move beyond business as usual.
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Proposals for a Roadmap towards a Sustainable Financial System in Switzerland - DE
Proposals for a Roadmap towards a Sustainable Financial System in Switzerland - FR
Proposals for a Roadmap towards a Sustainable Financial System in Switzerland - EN
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This report assesses to what extent 45 of the largest banks globally have integrated the Guiding Principles into their operations over the past five years. To determine this the study focusses on the evaluation of human right policies, processes and reporting of the banks, against 12 criteria, based on four categories: policies, due dilligence commitments, reporting and access to remedy. The research concludes that progress in the implementation has been slow, there are no true leaders, and that the link between good policies and good implementation appears to be weak.
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This mandated research by WWF, focusses on the green bond market and explores the diverse landscape of green definitions, standards, frameworks, and guidelines that are currently used in the market. It emphasizes the centrality of the notion of "credibility" and "effectiveness" of green bonds, which stand at the center stage of the discussions and the importance of developing criteria around adaptation and climate resilience assets and environmental challenges beyond climate change.
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As part of a three year project, this statement was launched in a first step to clarify investor duties in relation to the integration of environmental, social and governance issues in investment practice and decision-making. The statement aims to call on international and national policy makers to introduce a policy instrument that clarifies investor obligations and duties, in particular, to make explicit reference to the requirement to integrate ESG issues in investment decision-making.
The Fiduciary Duty in the 21st Century programme has also produced a series of other publications, including Fiduciary Duty Country Roadmaps and specific research on investor duties and obligations in Asian markets. These reports can be accessed here.
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Fiduciary Duty in the 21st Century - Global statement on investor obligations and duties - EN
