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SSF Newsletter April 2020: Upside Down
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Dear Sir or Madam,
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Covid-19 has affected our business realities more profoundly than any other event within most of our lifetimes. Although scary to see existing business models being turned upside down, it is encouraging to observe swift reactions from leaders – both business and political – in establishing innovative services to strengthen resilience. It took Switzerland less than a month to set up non-bureaucratic lending facilities for SMEs in cooperation with Swiss banks. Multilateral organisations launched Covid-19 social bonds and sustainable finance initiatives such as the PRI or PRB collected examples of first response measures to promote shared action. Furthermore, sustainable investments have so far proved to be more resilient than the average market, which will likely give them further tailwind.
Although priorities of governments might shift away from the climate crisis for the moment, the topic will soon be back on the agenda if recovery plans include green and digital transition targets.
It is the responsibility of each of us to try and make a difference in our own sphere of influence. Combining such positive moves globally will hopefully set the course for a sustainable recovery.
Kind regards,
Sabine Döbeli
CEO, Swiss Sustainable Finance
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SSF activities at a glance
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SSF rolls out e-learning tool publicly
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As of this month, the SSF e-learning tool is publicly available in English, German and French. The 4 modules were designed specifically for client advisors and other finance professionals and include interactive aspects – we wish you a happy learning experience! Access the tools here
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SSF publishes Annual Report 2019
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The SSF Annual Report 2019 gives an overview on the activities and projects SSF conducted in the past year. With 13 events organised or co-organised, we managed to attract a high number of professionals. The six active workgroups also supported SSF in the preparation of events and the publications. Download the report
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SSF responds to EU ecolabel consultation
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SSF submitted its response to the open consultation on the development of EU Ecolabel criteria for retail financial products. Read the full response here
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Regulatory and market news
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Swiss news
International initiatives
- Early March, the TEG published its final report on the EU Taxonomy as well as further guidance on the Green Bonds Standard, thus formally ending its mandate. The documents were presented in detail during the online stakeholder dialogue on 12 March.
- In April, the EU Commission launched a public consultation for its renewed sustainable finance strategy, which will build on the activities of the Action Plan. The consultation is open until 15 July.
- The EU Commission also launched consultations on three draft regulations for its Paris-Aligned and Carbon Transition Benchmarks. The regulations, which supplement the primary legislation on Climate Benchmarks adopted last year, include specific criteria for both benchmarks.
- The German Sustainable Finance Committee issued its interim report on the significance of sustainable finance, with 53 recommendations addressing the German public sector, real economy and financial industry.
- The French Financial Market Authority (AMF) published new guidelines on information disclosure for investors marketing sustainable funds.
- The Bank of England (BoE) announced that it is considering a capital charge on polluting assets (i.e. a brown penalizing factor) to make it more expensive for banks to finance polluters.
- This year’s international climate summit COP26 was expected to have a strong focus on private finance, as indicated by Mark Carney, who is now the UN’s climate envoy. However, COP26 has been postponed in light of COVID-19.
Market trends
- Swiss ICT company Swisscom published a Green Bond Framework, with the aim to issue green bonds in accordance with the Green Bond Principles of the International Capital Market Association (ICMA).
- The Executive Committee of the ICMA Green and Social Bond Principles underlined the relevance of social bonds in addressing COVID-19 crisis, and provided additional guidance.
- Confronted with the massive current economic downturn in face of COVID-19, ESG investing seems to be more resilient showing smaller draw-downs than traditional benchmarks.
- A group of investors including BlackRock, PGGM and Aberdeen Standard Investments have launched the Principles for Responsible Securities Lending, developed in association with the International Securities Lending Association (ISLA).
- Publica, Switzerland’s largest pension fund, announced a tailored climate-efficient equity index that will be progressively be introduced between now and the end of 2021.
- SSF member Tareno, an asset manager with a focus on thematic water investments, was named best asset manager in Switzerland by the BILANZ magazine ranking.
- The Swiss Association for Responsible Investment (SVVK-ASIR) published its Engagement Report 2019. Throughout the past year, the association held over 70 engagement dialogues on behalf of 10 large Swiss asset owners.
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New members and network partners
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We are very happy to welcome the following organisations to our network:
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The full list of our members and network partners, now standing at 146, can be found on the SSF website.
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Join these events
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Upcoming SSF events:
- 8 June 2020, SSF Market Study 2020 Launch Webinar – Online
- 30 June 2020, SSF Members’ Assembly – For SSF members only!
- CANCELLED – 30 June 2020, SSF Annual Conference, Bern – Unfortunately, this event had to be cancelled due to the current situation. Our next Annual Conference will take place on 22 June 2021
Other sustainable finance events:
Other activities & opportunities:
- The European Commission has contracted a consortium of sustainable investment specialists to conduct a study on sustainable investment data, ratings and investment research. Participate in the study
- For this year’s Geneva Summit on Sustainable Finance, the organisers are calling for papers, to be submitted by 1st of May.
Further events are currently being planned – more information on our website
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SSF and sustainable finance in the media
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- 16 April 2020, Investrends, Swiss Sustainable Finance lanciert E-Learning-Tool
- 15 April 2020, Allnews, SSF: e-learning gratuit sur l’investissement durable
- 15 April 2020, Finews, Nachhaltige Anlagen: In acht Stunden zum Experten
- 11 March 2020, Rete Uno, Niente soldi per le armi (Radio interview featuring SSF Board Member Giovanni Vergani)
- 11 March 2020, NZZ, Swisscanto macht beim Klimaziel ernst
- 5 March 2020, SRF Radio, Eine nachhaltige Finanzindustrie – ist das möglich?
- March Edition 2020, Finanz und Wirtschaft, Pflicht und Kür
- 27 February 2020, Watson, 5 Frauen erklären dir, wie dein Geld die Welt besser machen kann
- 23 February 2020, Le Temps, Les meilleurs fonds de placement sont souvent «durables»
Visit our website for more articles and regular updates
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SWISS SUSTAINABLE FINANCE
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