SSF enters the summer months with an abundance of positive news. One of the most significant developments was the recent approval of the Climate and Innovation Act on June 18th. This act ensures federal support for achieving carbon neutrality by 2050. A crucial aspect of the act is the expectation for the Swiss financial centre to actively contribute to low-emission and resilient development. SSF eagerly anticipates collaborating with our members to make this goal a reality.

During our Members' Assembly and Annual Conference, we had the privilege of hearing from inspiring individuals who shared their perspectives on the future of sustainable finance. These discussions emphasized the importance of considering both social and environmental factors. Additionally, the SSF members elected a new board member who brings a wealth of experience and motivation to our team.

Furthermore, this week marked the publication of the SSF Sustainable Investment Market Study 2023. This study represents a shift in focus reflecting the evolving market. The landscape of sustainable investments has transformed significantly since our initial reporting. Through intense conversations with our network and academia, we’ve developed different perspectives on the sustainable investment market and hope to contribute to the important dialogue on how to effectively communicate the concept of sustainable investments. Preferences range from a narrow to a broad definition, with the majority falling somewhere in between. Therefore, this year, we have adopted the term "sustainability-related investments" and refined our methodology to encompass more qualitative aspects and contribute to the discussions on the importance of transparency on chosen approaches and achieved results.

> Visit our website for more about these and other SSF activities

Swiss News

• New sustainability transparency guidelines have been published by the Swiss Structured Products Association (SSPA). As part of a voluntary self regulation, these guidelines aim to set a minimum standard for structured products classified as sustainable and they entered into force on 1 June with a 12 month transitional period.
• On 26 June, the Swiss State Secretariat for International Finance (SIF) alongside SSF, the Asset Management Association Switzerland (AMAS), the Swiss Bankers Associations (SBA) and the Swiss Insurance Association (SIA), announced the first national-level initiative to bring together public and private institutions to develop the Net-Zero Data Public Utility (NDZPU).
• The Green Fintech Network, a collective of green fintech startups, was also launched on 26 June, with the objective to boost the green digital finance ecosystem in Switzerland and drive the country's goal to achieve a global leadership role in sustainable finance.

EU News

• The EU Commission has voted in favour of a proposed directive, the Corporate Sustainability Due Diligence Directive (CSDDD),  that will impose mandatory human rights and environmental due diligence on companies and financial institutions. The next step is trialogue conversation between the EU Parliament, the EU Council and the EU Commission.
• A draft Delegated Act outlines the first set of European Sustainability Reporting Standards (ESRS) as required by the Corporate Sustainability Reporting Directive (CSRD) adopted in December 2022. There is a public consultation open till 7 July 2023.

International News

• The International Sustainability Standards Board (ISSB) issued IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures on 26 June 2023. They are effective for annual reporting periods beginning on or after 1 January 2024. These documents create a global baseline of high-quality sustainability disclosure standards (SDS) that meet the information needs of investors.
• Nature Action 100 releases investor expectations to support urgent corporate action on nature loss across six aspects; ambition, assessment, targets, implementation, governance and engagement.
• Climate Action 100+ launched its second phase of engagement, which keeps its three central goals (strong governance frameworks, reduce greenhouse gas emissions and enhance corporate disclosure on and implementation of transition plans). It further evolved the Net Zero Company Benchmark, in which it outlines new ways that investors can engage and made further updates.
• There is a 60-day open consultation for the Science Based Targets initiative (SBTi) from 15 June. This concerns the following consultation drafts; SBTI FI Net-Zero Standards Conceptual Framework and Initial Criteria for FIs, SBTI Near-Term Financial Sector Science Based Targets Guidance V2 and SBTI Fossil Fuel Finance Position Paper. You can respond using this survey from SBTi.

We are happy to welcome the following organisations as new SSF members:  

• Circe Invest (Service Provider)
• PROMEA (Asset Owner)

The full list of our members and network partners, now standing at 241, can be found here.  

• 13 September, SFI-SSF Conference: Financial Innovation—Accelerating the Change, Zurich
• 14 September, Geneva Forum for Sustainable Investment, GFSI
• 2-5 October 2023, Building Bridges 2023, Geneva

Further events are listed on the SSF website.

• 28 June 2023, La majorité des investissements durables manquent d'ambition, Le Temps
• 27 June 2023, Hoffnungsmarkt der Schweizer Asset Manager erleidet erste Delle, finews
• 27 June 2023, Volumen nachhaltiger Anlagen geht in der Schweiz erstmals zurück, Handelszeitung
• 27 June 2023, Erster Dämpfer für ESG-Anlagen, investtrends
• 27 June 2023, Gli investitori svizzeri puntano su sostenibilità e più «impatto», Corriere Del Ticino
• 26 June 2023, A new network to boost the green digital finance ecosystem in Switzerland, startupticker.com
• 17 June 2023, Es grünt so grün, wenn gewisse Fondsprospekte erblühen, NZZ
• 15 June 2023, « La nature a pris une place prépondérante dans les débats », Focus Swiss

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