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Swiss News
On Friday, the Swiss Federal Council published the Sustainable Finance Strategy for Switzerland up to 2025 and its position on preventing greenwashing. SSF is convinced that both documents and the related measures support the objective of the Federal Council's goals of establishing Switzerland as a leading centre for sustainable finance. More importantly, the measures will continue enabling the financial industry to contribute their share to achieving national and global sustainability goals.
Report: Sustainable Finance in Switzerland – Areas for Action 2022-2025
The report makes 15 recommendations in the following four areas:
- Sustainability data from all sectors of the economy
- Transparency in the financial sector
- Impact investments and green bonds
- Pricing pollution
The report takes account of the measures already taken and focuses on key areas that are still open. SSF will continue to support the market in achieving the goals formulated by the Federal Council with its activities.
Position on Greenwashing
SSF also welcomes the Federal Council's goal of leading an in-depth discussion with all market players to create a clearer definition of sustainable finance as a solid basis for transparent communication to clients.
According to the Federal Council, financial products or services that are labelled as sustainable or as having sustainable characteristics are expected to also pursue at least one of the following investment objectives in addition to their financial goals:
- Alignment with one or more specific sustainability goals, or
- Contribution to achieving one or more specific sustainability goals.
On top of that the Federal Council considers the following requirements as important:
- Description of applied sustainability approaches
- Accountability
- Verification by an independent third party
- Binding nature, enforcement and client rights
As part of the SSF Market Study on Sustainable Investments, we have been showing for many years which approaches are applied in the market. SSF will bring its expert know-how into the discussion on how to best achieve clearer definitions supporting transparent communication to clients.
Kind Regards,
The SSF Team
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