Digital library on sustainable finance
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The Swiss Sustainable Lending Market Study 2025 provides a comprehensive overview of the progress made by Swiss banks in integrating sustainability into their lending and mortgage practices, as well as the challenges involved. A positive trend is emerging: banks have increasingly introduced sustainability strategies and guidelines in lending. The hiring of internal sustainability specialists and the establishment of sustainability departments are providing effective support to the credit and mortgage sector.
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SSF_Pub_Lending_Market_Study_2025_EN (pdf 9.1 MB)Summary
Lucerne University of Applied Sciences and Arts (HSLU) published the IFZ Sustainable Investments Studie 2025. Among other interesting findings, the study observes that, although fund inflows into sustainable funds have overall declined considerably. Only 110 from 237 sustainable funds registers net inflows. Although, the net inflows (+ CHF 49 Billion) outperform the net outflows (CHF -45 Billion) the share of sustainable funds with positive net inflows has declined from roughly 75% to below 50% in the past two years. However, at the same time 69% of newly invested money flows of Swiss Retail Banks flow into sustainable funds.
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The guide prepared by CSP in collaboration with The ImPact and University of St. Gallen finds that the 13 wealth managers reflected in this medium on average allocate 30% of client assets to sustainable strategies, though impact investing remains far smaller at just 3.3%. However, these results are not representative and a huge variance has been detected across the wealth managers. Furthermore, the report highlights that impact measurement and ongoing values alignment vary widely across firms, underscoring the importance of robust governance, transparent reporting, and organizational commitment to impact.
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The paper published by the UN Environment Program Finance Initiative and the Principles for Responsible Investment (PRI) appeals to the responsibility of the asset owners. It argues that asset owners must account for climate risk and invest in mitigating action in order to ensure long-term economic growth and build resilience. Therefore, it is crucial that asset managers identify these long-term risks and act in the best interest of their clients by allocating the assets accordingly.
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The State of the Banking Transition 2025 report, published by the TPI Global Climate Transition Centre, a collaboration of the Transition Pathway Initiative (TPI) and London School of Economics (LSE), analyses the progress of 36 large multinational banks on the low-carbon transition. It measures the progress based on two parameters: the Net Zero Banking Assessment Framework and Carbon Performance for Banks. The results show that the vast majority of the banks are still at the beginning of their transition process and have not made any progress during the past year.
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In response to the narrative that nature finance does not provide market returns, the Cambridge Institute of Sustainable Leadership (CISL) published the paper: Scaling finance for nature. Authors argue that by assessing nature impacts and then choosing an appropriate lever for change, it is possible to scale nature finance across the economy. They identify four key levers for catalyzing nature finance: through stewardship activities, strategic financial decision making, the use of financial incentives, and targeted political dialogues.
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The Pensionskassen-Jahrbuch 2025 highlights that half of Swiss pension funds now report on their sustainability efforts, a level that stabilized in recent years. Since the introduction of the ASIP ESG reporting standard, the quality of reporting has improved, with a noticeable increase in qualitative disclosures. Roughly one in four pension funds are publishing quantitative ESG indicators for their equity and bond portfolios – showing that there remains room for better transparency and comparability.
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The Investors Guide to Multicapital Strategies explores how wealth holders can leverage both economic and non-economic resources—such as relationships, knowledge, and reputation—to maximize positive social and environmental impact. Drawing on academic research and 27 in-depth interviews with experienced investors worldwide, it offers practical insights and a framework for strategically deploying diverse forms of capital. The guide emphasizes transparency, inclusivity, and accountability as essential principles for ethical and effective impact.
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The IFC’s Blue Finance Guidelines 2.0 provide updated guidance for financial institutions to identify, structure, and scale investments that support sustainable ocean and water resource use. They aim to promote transparency, align with global standards, and accelerate growth in the blue economy.
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The Ethos Engagement Paper on Nature 2025 examines how the twin crises of climate change and nature loss create systemic risks for companies and investors. It outlines Ethos’ expectations for companies to assess their impacts, dependencies, and risks related to biodiversity and natural capital. Companies are encouraged to establish nature transition plans consistent with the Global Biodiversity Framework. The paper also recommends using frameworks such as TNFD and adopting the Do No Significant Harm principle to strengthen disclosure and risk management.
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Ethos_Engagement_Paper_Natur_2025_DE (pdf 2.6 MB)Ethos_Engagement_Paper_Nature_2025_FR (pdf 3.0 MB)
Ethos_Engagement_Paper_Nature_2025_EN (pdf 2.8 MB)
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The updated 2025 edition of the OECD DAC Blended Finance Guidance reflects the growth and maturation of the blended finance field since 2020, acknowledging its increased use but also its persistent challenges, such as limited scale, fragmentation, and lack of transparency. The Guidance provides strategic and practical advice for policymakers and practitioners to make blended finance more effective, emphasizing collaboration, trust, and improved investment conditions in developing countries. It is structured around five principles focused on development impact, mobilisation of commercial finance, local relevance, effective partnerships, and transparent monitoring.
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4915f91c-fr (pdf 2.0 MB)e4a13d2c-en (pdf 3.8 MB)
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The UN's Sustainable Development Goals Report 2025 reveals that the world is not on track to achieve the 2030 goals and urges urgent action in six key areas: food systems, energy, digital connectivity, education, employment and social protection, and climate and biodiversity. Although significant challenges persist, the achievement of universal electricity access in 45 countries demonstrates the potential for swift progress.
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The HSLU study found that, although formats and depth vary widely, Swiss banks have integrated ESG preference assessments into client advisory processes. Banks indicated that between 20-90% of their clients have ESG preferences. While most institutions currently meet SBVg guidelines, upcoming stricter sustainability definitions in 2026 will present new implementation challenges.
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Wie erheben Banken Nachhaltigkeits- präferenzen von Privatkunden in der Schweiz? - DE
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The report highlights that inconsistent impact measurement standards hinder comparability and trust in impact investing. After reviewing major frameworks such as IRIS+, HIPSO and SDG Indicators, it was found that there were overlaps, but also significant gaps in definitions and reporting. To address these issues, the report proposes six steps: defining core metrics; aligning sector-specific issues; mapping frameworks; standardising reporting formats; coordinating the development of new metrics; and leveraging AI to interpret and contextualise data.
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Impact Measurement Harmonisation: Challenges and Opportunities - EN
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The paper analyses the impact of sustainable finance strategies on firms' production and emissions. It demonstrates that this impact varies depending on how easily firms can substitute capital for energy. While pure divestment can be counterproductive, financing conditions linked to a company’s carbon footprint are more effective as they directly increase the cost of carbon-intensive energy and encourage efficiency improvements that extend beyond the investor’s portfolio.
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The Green Fintech Network, has published The Green Fintech Theory of Change report, outlining how fintech can drive the green transition. The report outlines strategies for leveraging fintech to drive environmental solutions, highlighting how financial tools and technology can combat climate change and support sustainable infrastructure. It categorizes impact into the main areas, lending, assets, and investing, and data and analytics, detailing which types of fintechs fit each category and their potential positive outcomes.
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This report by the Federal Office for the Environment (FOEN) identifies and assesses climate risks and climate-related opportunities for Switzerland up to 2060. With the participation of numerous experts from administration, science, and business, the first "Climate Risk Analysis" from 2017 was comprehensively reviewed and updated in terms of content and methodology. The results serve as the basis for the Federal Council's future adaptation strategy and for the development of adaptation strategies and action plans in cantons and regions
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Climate Risk Analysis for Switzerland: Basis for adaptation to climate change - DE
Climate Risk Analysis for Switzerland: Basis for adaptation to climate change - FR
Climate Risk Analysis for Switzerland: Basis for adaptation to climate change - IT
Climate Risk Analysis for Switzerland: Basis for adaptation to climate change - EN
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In its latest report, the Swiss Bankers Association underscores the urgency of scaling up nature-related investment in Switzerland to counter rising environmental pressures, especially in sectors like water infrastructure and sustainable agriculture. As banks begin to incorporate nature-related risks and opportunities into their practices, many initiatives still fall short of financial viability. The report points to the need for stronger demand signals, creative financing solutions and more robust data and metrics to attract private investment.
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The EDHEC Climate Institute’s report, "How to Assign Probabilities to Climate Scenarios", presents a new framework for estimating the likelihood of future climate pathways. Using empirical mitigation data and economists’ Social Cost of Carbon estimates, the study applies a maximum-entropy method to avoid bias. It finds that the chance of limiting warming to 1.5 °C is just a few percent, with a likely outcome of 2.5 to 2.7 °C by 2100. The probability of exceeding 3 °C is between 20–40%, highlighting serious tipping point risks. The framework offers a more realistic basis for climate stress testing by investors, regulators, and policymakers
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The Finance & Nature Toolbox v1.0, Partnership for Biodiversity Accounting Financials (PBAF), offers practical guidance for financial institutions – including asset managers, investors, and banks – on integrating biodiversity into every stage of their loan and investment process: from setting priorities, policies, and targets to due diligence, agreement terms, active ownership, and exit decisions. It maps which assessment tools, databases, and publications are most suitable at each stage, helping users choose the right instruments for their biodiversity-related questions.
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The report surveys 96 EBRD partner banks across 32 economies to assess climate practice integration. Since 2021, climate awareness and green finance adoption have increased, with most banks viewing it as a growth opportunity. However, progress tracking and resource allocation remain challenges. Governance engagement varies, and only 23% of banks have fully developed transition plans. The findings highlight both progress and fragmentation, stressing the need for stronger capacity building and risk management.
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Climate transition of the financial sector: the state of play in the EBRD regions 2025 - EN
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This new guide by TNFD, in collaboration with Chapter Zero, Competent Boards, Commonwealth Climate and Law Initiative and Green Finance Institute, is aimed at board members. It outlines 12 key questions they wish to ask in order to understand the materiality of nature for their operations.
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Asking Better Questions on Nature – For board directors - EN
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The Network for Greening the Financial System (NGFS) published several short-term climate scenarios that allow central banks and supervisors updated tools to assess near-term macro-financial risks form climate change for a three-year horizon.
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NGFS Short-term Climate Scenarios for central banks and supervisors - EN
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André Hofmann and Peter Vanham explain why the traditional way in which most companies operate is no longer sustainable for society or the planet. Drawing on real-world case studies, they present a compelling blueprint for achieving 'sustainable prosperity', showcasing companies that have adapted to change and flourished as a result.
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The Swiss Foundations Report 2025 provides key trends and data on philanthropy in Switzerland, with 52 members participating, representing a total of CHF 18.6 billion in assets. According to the report, 84% of participating foundations consider sustainability in their asset management through one or more sustainable investment approaches. For 38% of foundations, positive impact ist the primary motivation.
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