The enforced take-over of Credit Suisse by UBS – backed by massive guarantees by the Swiss National Bank and the State – painfully illustrates how bad risk management and lack of good governance can undermine the competitiveness not only of an individual bank, but of a whole financial centre. It will take months to understand the implications of this unprecedented event but one thing is clear: we cannot achieve a sustainable financial centre if fundamental governance principles are disregarded. Environmental challenges will only be addressed effectively, if the S and the G in ESG are receiving the attention they deserve.

In early March, SSF revealed its new strategy 2023-2024 with a stronger focus on shaping Swiss frameworks and on a more intense dialogue with representatives of all sectors. Different thematic platforms will strengthen the interaction with all members.

Institutional investors are an important and growing SSF member category. Seeing that the assets managed by Swiss pension funds and foundations amounted to more than one trillion Swiss francs in 2022, they can play a key role in supporting the economy’s transition to a sustainable and carbon-neutral future by taking sustainability factors into account in their investments. With a new E-learning module designed specifically for board members of pension funds and foundations SSF aims to plug knowledge gaps and support a faster adoption of such approaches.

> Read more about these and other SSF activities

Swiss News

• 167 years after its founding, Credit Suisse is taken over by UBS upon negotiation with the Swiss government. While the primary aim is to stabilize the financial system, different stakeholders raise issues about the destruction of investor value and the expected loss of jobs.
• The SDG Impact Finance Initiative has launched a second call for proposals for the development of impact funds targeting a defined set of UN Sustainable Development Goals. The deadline for submission is on 1 May 2023.

International News

• In the UK the Transition Plan Taskforce (TPT) encouraged the private sector to publish transition plans and announced the creation of working groups on nature, adaptation, just transition, debt and credit, emerging markets and transition plans and SMEs.
• Members of the International Sustainability Standards Board (ISSB) approved exposure drafts IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) at a meeting in February. These are expected to come into effect for annual reports for 2024 onwards.
• The IPCC published the final paper in the 6th Assessment Report, their AR6 Synthesis Report "Climate Change 2023". This report is a summary of the Assessment Reports by the IPCC and states that finance, technology and international cooperation are critical enablers for accelerated climate action.

Market News

• Globalance was the first Swiss bank to publish the Swiss Climate Scores for all their assets under management at the beginning of March.
• The Swiss Federal Office for the Environment (FOEN) launched an interactive CO2 calculator on the federal government's geoportal. It provides climate and energy-relevant information for all Swiss residential buildings.

We are happy to welcome the following organisations as new SSF member: 

• Anlagestiftung VALYOU (Asset Owner)
• Fondation Botnar (Asset Owner)
• Morningstar Sustainalytics (Service provider)
• Zuger Kantonalbank (Bank)

 The full list of our members and network partners, now standing at 234, can be found here. 

• 23 March 2023, SSF/PRI Workshop for Institutional Asset Owners: Embedding Sustainability in Asset Manager Selection & Monitoring, Zürich
• 30 March 2023, SSF/ZHAW Event:  Sustainable Real Estate: Solutions using Satellite Images, Winterthur, Register here
• Save the Date: 22 June 2023, SSF Annual Conference 2023, Bern

Further events are listed on the SSF website.

• 24 February 2023, Sustainable Finance: Wo sich Pensionskassen- und Stiftungsverantwortliche thematisch fit machen können, the Onliner
• 21 February 2023, Blow to Net Zero Takes Steam Out of Swiss Sustainability Push, finews.com
• 6 February 2023, Viel mehr als ein Trend: Nachhaltige Finanzen, Raiffeisen Magazin (Interview with Sabine Döbeli)

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