Switzerland’s Federal Department of Finance (FDF) is set to propose rules which will involve regulating the use of labels like ‘sustainable,’ ‘green,’ or ‘ESG’ on financial products.
Digital climate disclosures are coming to Switzerland. Xenia Karametaxas, Sustainable Finance Policy Advisor to the Swiss State Secretariat for International Finance, spoke to independent analyst and investor Christian Dreyer CFA on Monday 16 October at Data Amplified 2023.
Further progress on transparency in sustainability reporting this week as Switzerland adopted an ordinance requiring mandatory, machine-readable climate disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
In a recent post, XBRL Switzerland offers an initial review of the 300 responses to the Swiss government’s consultation on mandatory climate disclosures.
The Swiss government is now consulting on a proposal to introduce mandatory climate disclosures. A comment letter from XBRL Switzerland seeks to clarify certain aspects of this Ordinance on Climate Reporting and to encourage a truly digital approach.
The Swiss government, the Federal Council, has recently set a timeline and other parameters for mandatory climate disclosures by large companies.
On 12 January, Switzerland officially became a supporter of the Task Force on Climate-related Financial Disclosures (TCFD), demonstrating the government’s support for greater disclosure of and transparency around climate-related financial risks.
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