Digital library on sustainable finance
TITLE
AUTHOR
PUBLISHED
LANGUAGES
Summary
Die Biodiversitätskrise erfordert entschlossenes Handeln. Entscheidend hierfür ist die Frage, welche Mittel sich in welcher Form am besten eignen. Daher ist es bedeutsam, konkrete Maßnahmen wie Nature-based Solutions und die derzeit intensiv diskutierten Biodiversity Credits möglichst sorgfältig zu analysieren. Die Handreichungen sollen hierzu einen Beitrag leisten und gleichermaßen die Chancen und Potenziale sowie die Risiken und Grenzen in den Blick nehmen. Darüber hinaus ist es essenziell, mögliche globale Auswirkungen auf die nachhaltige Entwicklung, soziale Ungleichheiten und bestehende Machtverhältnisse mitzudenken.
Link
Summary
The Swiss Finance Institute (SFI) constructed nature dependency scores on firm level (NatDep scores) for almost 32’000 firms between 2010 and 2023 based on data from ENCORE and firm-level financial disclosures. Two findings support the approach of integrating nature risk in the risk assessment of the investment process. On the one hand, the authors found a positive correlation between the downside risk of firms and the scores highlighting an increased financial risk, mostly explainable with the dependency on water-related ecosystems. On the other hand, the scores predict nature-related incidents such as damage to nature, overuse of resources, or disputes with the local communities. Unlike corporates, investors commence building an awareness regarding nature dependency.
Link
Swiss Finance Institute: Paper Firm Level Nature Dependence - EN
Summary
The Asset Management Association Switzerland (AMAS) and Principles for Responsible Investing (PRI) published a paper based on roundtables they held on the Swiss Stewardship Code published with SSF. It contains a summary of real world applications of stewardship from the perspective of asset owners, investment managers and service providers. It covers each step from setting up a stewardship policy over different types of engagements to escalation strategies.
Link
Summary
Picard Angst analysed 71 institutional asset owners' portfolios in Switzerland on ESG metrics by comparing the individual asset allocation to an aggregated market view. The total AuM of the 71 asset owners was at roughly CHF 150 billion and therefore represents a relevant sample. From the gained insights the authors draw actionable conclusions based on an ex ante risk and return analysis. Thus, it provides data based decision making options enabling the adaption of the climate profile.
Link
Summary
The paper conducted by the UNDP, Rule of Law and Peacebuilding Hub, and Sustainable Finance Hub found that human rights and business are not a trade off. According to their research that included the analysis of 235 corporates over 5 years, it is the opposite and a positive effect of investments in human rights on operational efficiency and a neutral-to-positive effect on market reaction was found. More specifically, they found that improvements in a corporate’s human rights conduct have a positive effect on their return on assets and leads to a more resilient supply chain and a more productive work force. The paper refutes the narrative of cost efficiency regarding lacking human rights conduct in corporates.
Link
Summary
The report of the World Resources Institute and Google builds upon the contrary developments of artificial intelligence (AI) and biodiversity. 22 expert interviews as well as several case studies and research in the field point out how AI could potentially accelerate nature action. The paper examines various sectors and geographical areas. A key conclusion is that nature data must be produced at a higher scale and speed. In order to make better informed decisions it is essential that the information is democratized. AI can be a catalyst for this development since it is able to process and structure large amounts of data. The paper advocates a collective approach consisting of sharing knowledge and data.
Link
Working Paper from WRI: AI for Nature: How AI Can Democratize and Scale Action on Nature - EN
Summary
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.
Link
Summary
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.
Link
Summary
The paper shows in a retrospective that in emerging and frontier markets unhedged local currency investments can be a driver of diversification strengthening the portfolio rather than a risk that must be covered through expensive hedging. The clue is that these markets show a very low correlation between the currencies whereas hedging is relatively expensive. Over a period of 17 years, from 2008 to 2025, the unhedged strategy outperformed hedged strategies. Thus, it is concluded that this is a long-term investment strategy for investors seeking portfolio diversification.
Link
Local Currency Investing in Emerging and Frontier Markets - EN
Summary
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.
Link
Summary
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.
Link
Summary
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.
Link
Summary
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.
Download
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)
Summary
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.
Download
4915f91c-fr (pdf 2.0 MB)e4a13d2c-en (pdf 3.8 MB)
Summary
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.
Link
Summary
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.
Link
Wie erheben Banken Nachhaltigkeits- präferenzen von Privatkunden in der Schweiz? - DE
Summary
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.
Link
Impact Measurement Harmonisation: Challenges and Opportunities - EN
Summary
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.
Link
Summary
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.
Link
Summary
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
Link
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
Summary
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.
Link
Summary
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
Link
Summary
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.
Link
Summary
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.
Link
Climate transition of the financial sector: the state of play in the EBRD regions 2025 - EN
Summary
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.
Link
Asking Better Questions on Nature – For board directors - EN
