Digital library on sustainable finance
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Reglement über die Anlagen der Pensionskasse des Staatspersonal (de) includes the consideration of ESG policies when developing an investment strategy
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Règlement sur les placements de la Caisse de prévoyance du personnel de l'Etat - DE
Règlement sur les placements de la Caisse de prévoyance du personnel de l'Etat - FR
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The fifth annual Microfinance Market Outlook published by ResponsAbility is available. The 2015 study concludes that the global microfinance market is expected to grow by a further 15-20% in 2015 and examines the potential impacts of changes in interest rates on microfinance investments.
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Microfinance Market Outlook 2015: Growth driven by vast market potential - DE
Microfinance Market Outlook 2015: Growth driven by vast market potential - EN
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SSF members confirmed the positive view on sustainable finance in the first members' survey.
- A vast majority is convinced that Switzerland will expand its market share in this field in the years to come
- There is a clear consensus that the sustainable finance market will grow at a double digit rate
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Members' Survey: The future of sustainable finance in Switzerland - EN
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Based on more than 190 academic studies, industry reports, newspaper articles, and books, this meta-study showed three compelling arguments.
- 90% of the studies on the cost of capital show that sound sustainability standards lower the cost of capital of companies
- 88% of the research shows that solid ESG practices result in better operational performance of firms
- 80% of the studies show that stock price performance of companies is positively influenced by good sustainability practices
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From the Stockholder to the Stakeholder: How sustainability can drive financial outperformance - EN
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The report highlights the scale of Sustainable and Responsible Investment practices and trends across 13 European countries.
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International Banking regulations (i.e. Basel Capital Accord) have gained much attention in the aftermath of the financial crisis. Simultaneously, interest in environmental risks for banking and their potential systemic impacts are also on the rise. The author highlights some initial programs (i.e. Brazil, China, Peru), where banking regulation and governance practices address environmental risks. This report concludes that the Basel Committee should learn from these experiences and consider reforms to the Basel III Pillar 2 Supervisory Review framework and the Pillar 3 Market Discipline framework, by recognising systemic environmental risks as material risks which can potentially threaten banking stability.
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Stability and Sustainability in Banking Reform: Are Environmental Risks Missing in Basel III? - EN
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This report is based on a request of the Swiss Federal Office of the Environment (FOEN). FOEN wants to receive a comprehensive overview of the green and sustainable financial market landscape in Switzerland, based on a desktop research and the experience of PwC subject matter experts.
Overview of the sustainable and ‘green’ financial market in Switzerland:
The financial sector is an important pillar of the Swiss economic system and Switzerland has a long tradition of being a financial centre of global relevance (e.g. it is the number one destination for offshore-wealth). With its supply of money (loans, insurance services, equity and other financial products) the financial sector has a significant direct and indirect impact on the sustainable development of the economy. One of the key findings of this report is that there is a general trend towards sustainable investments in Europe. In Switzerland, the volume of sustainable investments has increased since 2005 by 23 percent on average per year, and this trend is assumed to continue. However, sustainable investments represent a niche and their share of the overall volume in the market is with roughly 4 percent still low. This is surprising as there is evidence (refer to ‘The Added Value of Sustainable Investment’ in this study) that responsible investments create additional values for investors. The market overview revealed that Switzerland is still in a leading position, but that other financial centres are catching up in becoming a hub for sustainable finance. Without influencing the markets by regulations or major incentives, there will not be a very big step towards sustainable finance; rather we will see gradual growth corresponding to the overall worldwide development of sustainable financial markets.
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In this book, Sustainable Finance Geneva seeks to highlight the key role that the Lake Geneva region has played in these developments. Thanks to its unique advantages, Geneva has acted as a testing ground for many of these major innovations, which have often gone on to spread worldwide.
This book does not aim to provide an exhaustive list. It selected ten innovations initiated or developed in the Geneva area, which are considered to be emblematic of how this laboratory of sustainable finance operates. Although these initiatives are not all “world firsts ”, they have in common that they all benefited from Geneva’s unique ecosystem, which brings together a leading financial center, a network of international organizations, major foundations, and an active and enterprising academic sector, all in one place.
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10 Finance Innovations - Geneva, the sustainable finance laboratory - FR
10 Finance Innovations - Geneva, the sustainable finance laboratory - EN
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This paper aims to provide an introduction to and overview of the social investment market for policy makers in OECD and non-OECD countries. Social investment is the provision of finance to organisations with the explicit expectation of a social, as well as financial, return. Social investment has become increasingly relevant in today’s economic environment as social challenges have mounted while public funds in many countries are under pressure. New investment approaches are needed for addressing social and economic challenges, including new models of public and private partnership which can fund, deliver and scale innovative solutions from the ground up.
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New Investment Approaches for Addressing Social and Economic Challenges - EN
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As a whole the report offers a tour of the main drivers and debates in responsible investment, with recommendations on future actions and research.
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The joint work of the University of Zürich and commercial microfinance manager BlueOrchard, this survey finds that a significant and growing proportion of Swiss institutions are invested in microfinance. While social attributes are important for the investment decision they do not override return expectations.
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The Importance of Microfinance – Swiss Institutional Investors Survey 2014 (presentation) - EN
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This report aims to identify corporate governance practices that could promote a durable culture of sustainability within corporations, proposing the "Integrated Governance" model. This model and its implementation in practice are explained within the report. Overall the authors wish institutional investors with insights and suggestions that they could consider when engaging with companies, and exercising their ownership rights.
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Integrated Governance A new model of governance for sustainability - EN
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The momentum on responsible investments have been building up, over the last years - showcased for example by the numerous signatories of the PRI. This report explores the moral, financial and economic justification for responsible investment, linking it to the academic evidence. It concentrates on how ESG factors materially impact investment risk and returns.
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The value of responsible investment The moral, financial and economic case for action - EN
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This publication contains an English version of an excerpt from the chapter on Switzerland in Marktbericht Nachhaltige Geldanlagen 2014 – Deutschland, Österreich und die Schweiz [Sustainable Investment Market Report 2014 – Germany, Austria and Switzerland]. It is the latest in the series of annual publications on the sustainable investment market in Switzerland previously produced jointly by the consultancy firm onValues and FNG Switzerland.
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Die 7. Ausgabe der zRating Studie zu Corporate Governance in Schweizer Publikumsgesellschaften prüft die Corporate Governance von insgesammt 150 Gesellschaften des SMI und SPI Extra auf 59 Kriterien.
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Agriculture as a focus of investment is viewed by some as a promising and long-awaited opportunity to promote the sector. For others, it raised the concerns about the potential negative environment, social and economic impacts. This report adds to the growing body of literature by examining 39 mature agribusiness investments in Africa and Southeast Asia, assessing to what extent their activities can be characterized as responsible. Providing information about best-practices and pitfalls to avoid.
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According to the UNEP FI the absence of policy and regulatory measures related to internalizing externalities is a key barrier to private sector investments in sustainable assets. Hence, this report suggests that further finance sector regulation could incentivise financial institutions to supply capital for sustainable development. This paper therefore maps out the financial regulatory landscape, discussing how regulations can influence investment behaviour and highlights further research avenues.
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Also known as the Minder-Initiative, grants more rights to shareholders for determining management remuneration for listed companies.
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Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften - DE
Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften - FR
Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften - IT
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Article 9. Investissement responsable et développement durable
1. Conformément à l’art. 4, al. 3 de la LCPEG, l’activité de la Caisse s’inscrit dans la perspective du développement durable et des investissements responsables.
2. La Caisse tient compte des critères de développement durable dans le choix de ses investissements, dans la mesure du possible.
3. Les modalités d’application de l’investissement responsable sont précisées dans une directive spécifique.
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Règlement de placement Caisse de prévoyance de l'Etat de Genève - FR
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This report reflects how insurance might be used to assist countries that are most vulnerable to loss and damage from climate change. The report concludes that climate change is perceived as a real challenge to insurance companies, and that they are already adapting their risk control measures to climate risks; including the identification, prevention and reduction of risks.
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Die Autoren machen innovative Finanzierungsvorschläge, die sich in der Praxis bereits bewährt haben und die für institutionelle Anleger gleichmässige Erträge ermöglichen. Das Buch strukturiert sich in drei Teile. Im ersten Teil wird die Energiewende erklärt, im zweiten werden mögliche Massnahmen zur Umsetzung inkl. Investitionsbedarf und Herausforderungen dargestellt, der dritte Teil handelt von den Investitionsmöglichkeiten.
Neue Zürcher Zeitung Verlag, 2014
ISBN: 978-3-03823-856-0
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The Thun Group of Banks is an informal group of bank representatives that have been discussing the meaning of the UN’s “Protect, Respect and Remedy” Framework” and the Guiding Principles for the activities of banks. This paper outlines the interpretation of Principles 16-21 and identifies key steps that need to be taken as well as challenges for banks in implementing the principles.
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This article reviews the actors in SRI, the motives for SRI, relevant theoretical frameworks and the effectiveness of SRI in changing environmental, social and corporate governance (ESG) performance of public companies. Various actors with different motives engage in SRI through distinct strategies. Although the effects of SRI strategies are difficult to identify and quantify, overall, SRI does not yet play a major role in changing ESG performance. Several factors can be identified that impede SRI in improving ESG performance, together forming an action agenda for SRI researchers and practitioners.
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The effectiveness of socially responsible investment: a review - EN
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4. Il définit dans un document sa stratégie en matière de développement durable et d'investissements responsables.
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This white paper formed the basis for the establishment of SSF. It outlines action points that can be taken to strengthen the sustainable finance industry in Switzerland.
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Path to the Sustainable Financial Centre Switzerland – A call to action - EN
