With all the recent news, Sustainable Finance seems to have missed a summer break. Currently, different consultations on draft frameworks are open for comments and we are an active participant in many of them. SSF has already joined the discussion on the CFA ESG standards, for which feedback is now closed, and is currently consolidating input on the much disputed EU extended and social taxonomy.

The recent weather extremes, both in Switzerland and globally, have highlighted the urgency of climate risks. The role of the financial sector in addressing them has become a very prominent topic in the media. One of the key questions raised in this context is, to what extent sustainable finance has real world impact. This is something that we at SSF will definitely keep addressing – whether it be within our various workgroups, in the media, or at one of the many upcoming in-person events, in which SSF is involved.

International development

• On 6 July, the European Commission (EC) published its new sustainable finance strategy, outlining a package of further measures in four key areas to streamline capital flows for the transition to a more sustainable economy.
• Also on the same day, the EC adopted the proposal for an EU Green Bond Standard (EU GBS). 
• Additionally, the EC adopted the Delegated Act supplementing Art. 8 of the Taxonomy Regulation, specifying the content, methodology and form of information to be disclosed by companies on their environmental performance.
• Later in July, the EU Platform on Sustainable Finance published two draft reports; the social taxonomy and the extended taxonomy to support economic transition. Both reports are currently open for consultation until 27 August.
• On a more overarching level, the EC announced the adoption of a package of proposals aiming to decrease greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels, thereby reaching the EU 2030 climate targets.
• The European Central Bank (ECB) intends to require climate-related disclosures for its corporate bond buying, announced as part of its new action plan and roadmap presented on 8 July.
• Looking beyond Europe, Looking beyond the European Union, both the UK’s Financial Conduct Authority (FCA) with their letter to the chairs of authorised fund managers (AFM)  and Hong Kong’s Securities and Futures Commission (SFC) has issued guidance for asset managers on enhanced ESG disclosure for funds.

Market trends

• Recently sustainable bonds have been gaining market presence, with UBS launching its Green Funding Framework for Swiss low energy property and emitting its first green bonds, and ResponsAbility bringing to the market a new social bond totalling 177.5 million USD along with SIDA (Sweden) and Danske Bank.
• According to the Global Sustainable Investment Review  2020, there has been a 15% increase in the world’s global sustainable investments between 2018 and 2020. Nevertheless, the report noted regional shifts, with Europe reporting less assets likely due to revised definitions around sustainable investments in Europe.  
• PRI signatories perform better in their asset management than non-PRI signatories according to a new study by CEM Benchmarking. PRI signatories exhibited lower fund costs, a higher average total fund net value added and a higher 5-year average net value return in the USA, Canada and the UK.

We are very happy to welcome the following organisations to our network:

• Acrevis (Bank)
• DWS CH AG (Asset manager)
• Finreon AG (Asset manager)
• Goldman Sachs Bank AG (Bank)
• Piguet Galland & Cie SA (Bank)
• Swiss Finance & Property Group (Asset manager)
• Thomas Lloyd Asset Management (Asset manager)

The full list of our members and network partners, now standing at 186, can be found on the SSF website.

• 31 August 2021, SSF Member Workshop on How to Implement the SSF Transparency Requirements, for members and partners only, please write to the SSF Team if you are a member or partner and would like to attend, online
• 6 October 2021, Conference: Novel Data Solutions, organised jointly by SSF and ZHAW, Zurich
• 27 October 2021, Growing Sustainable Finance – Challenges, Opportunities, and Solutions conference, organised by SFI in conference organised by SFI in cooperation with SSF and SBA, Zurich
• 29 November - 2 December, Building Bridges Week and Summit, Geneva
• Save the Date: Annual Forums on Sustainable Finance Education in Geneva on 5 November 2021 and Zurich on 12 November 2021

Other sustainable finance events, partnered by SSF

• 2&3 September 2021, Swiss Green Economy Symposium, Winterthur (With a dedicated Innovation Forum on Sustainable Finance)
• 6 September 2021, ZFSI2021 Zürich Forum for Sustainable Investment, Zurich.
• 9-10 September 2021, New Energy Investor Summit, Zurich
• 23 September 2021, GFSI2021 Geneva Forum for Sustainable Investment, Geneva
• 28 September 2021, NZZ Impact Finance Forum, Bern

• 3 August 2021, NZZ, Sind die Banken grosse Klimasünder – oder zeigen die Aktivisten auf die Falschen?
• 2 August 2021, BZ Basel, Klimaschützer belagerten CS und UBS: Wie schlimm sind deren Klimasünden wirklich? Acht Antworten zum Schweizer Finanzplatz
• 2 August 2021, Le Temps, «Building Bridges» devra incarner l’indispensable passage à l’acte de la communauté durable
• 26 July 2021, Tagesanzeiger, Grossanleger machen Druck auf Regierung für mehr Klimaschutz
• 19 July, NZZ, Greenwashing: Den Blendern in Sachen Nachhaltigkeit soll es an den Kragen gehen
• 7 July 2021, SRF, EU fordert Schweizer Finanzplatz bei grünen Geldanlagen heraus (with statement of Patrick Odier)
• 5 July 2021, Tagblatt, «Es ist wie Woodstock» Im Gespräch mit Patrick Odier

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