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SSF Newsletter May 2023
The right framework
Dear all

Almost exactly two years after the revised CO2 Act was voted down in Switzerland, we have the chance to accept a new climate law paving the way for the achievement of the Swiss climate goals by 2050. While relying more on subsidies for climate-friendly technologies than bans of old technologies, the article 9 of the law specifically refers to the role of the financial industry. It requests that the Swiss financial center makes an effective contribution to a low-emission and resilient development. SSF supports the law and is convinced that the financial sector has a key role to play in encouraging all sectors to implement the transition to a net-zero economy. With our activities, we support our members and the whole financial centre in quickly moving on this path.

On a different level, discussions around the role of sustainable finance regulation continue. A recent report concluded that only a small minority of sustainable funds manages to comply with existing regulations in the EU, UK and US, due to their different objectives. While differing standards are an issue, we have the opportunity in Switzerland to define a principle-based framework that fosters transparency on the goals of different products and services and thereby strengthens trust amongst clients. This is the basis for the further growth of sustainable finance we need to see if we want to achieve our climate goals.


Kind regards,

Patrick Odier

SSF President

Newsletter content

SSF activities at a glance

Regulatory and market news

New members and network partners

Join these events

SSF and sustainable finance in the media

New Studies & Reports

SSF activities at a glance
SSF supports the Swiss Climate Law (KlG)

On 18 June, the Swiss electorate will vote on the adoption of the federal law on climate protection goals, innovation and strengthening energy security (KlG). The KlG provides a clear framework for the financial industry to actively support the energy transition and it helps to reduce climate risks in Switzerland. SSF officially supports the KIG in the public vote and encourages our members to do the same. More information on the KIG and reasons to support it here

Swiss Consultation Group TNFD Framework v0.4 Workshop

As joint convenors of the Swiss Consultation Group on the TNFD, SSF and GCNSL hosted a feedback workshop and  discussed the v0.4 Framework with their members as a basis for feedback to the TNFD. The launch of the TNFD Framework is planned for autumn 2023.

Register now for the SSF Annual Conference!

On the 22 June 2023 in Bern, SSF will be hosting our Annual Conference, with the theme of “How to accelerate the transition”. Register here to join us in listening to the great line-up of speakers including State Secretary Daniela Stoffel and Swisscom CEO Christoph Aeschlimann.


> Visit our website for more about these and other SSF activities

Regulatory and market news

International News

  • The SDG Progress report by the United Nations assesses the current state of progress towards the SDG goals at the half-way point of the 2030 Agenda for Sustainable Development. It finds that many of the SDGs are moderately to severely off track and puts forward five major recommendations to rescue the Sustainable Development Goals and accelerate implementation.
  • A World Bank paper on physical risks for the banking sector in emerging markets determined that half of all credit portfolios in emerging markets are with companies whose businesses are highly or very highly dependent on one or more ecosystem services. Overall 21 ecosystem services with 86 dependent business processes are mentioned.
  • The Climate Engagement Canada (CEC) published a Net Zero Benchmark to provide a common standard for investors to evaluate corporate issuer’s progress towards the Paris Agreement.
  • Ecuador has completed the world’s largest debt for nature conversion with the help of the Inter-American Development Bank and the US Development Finance Corporation. The debt purchase aims to foster sustainable development and marine conservation in the Galàpagos islands.
  • Four US States have published blacklists of financial institutions that are deemed to be boycotting fossil fuels or that forbid pension and investment funds and other state agencies from entering into contact with them.

Market News

  • According to a white-paper by Clarity AI, only 4% of funds with sustainability terms in their names comply with sustainable finance regulation across EU, UK and US. This paper illustrates a lack of consensus across all these jurisdictions.
New members and network partners

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

The full list of our members and network partners, now standing at 239, can be found here.  

Upcoming Events

Further events are listed on the SSF website.

SSF and sustainable finance in the media

Visit our website for more articles.

New studies & reports
A Case study of Hypothetical Report Preparer Bank of Nature

This hypothetical case study shows how a financial institution, which includes consumer, corporate and investment banking services, assesses nature-related risks and opportunities using the TNFD LEAP approach. The tools and methodologies references are included for illustrative purposes only.

More >
Unboxing Nature-related Risks: Insights from the UNEP FI-led TNFD Piloting Programme

This report presents the results of an extensive global pilot testing led by UNEP FI with the private finance sector to test the draft risk management and disclosure framework from the Taskforce on Nature-related Financial Disclosures (TNFD).

More >
Banking on nature: What the Kunming-Montreal Global Biodiversity Framework means for responsible banks

This briefing provides banks a first overview of how the Kunming-Montreal Global Biodiversity Framework (GBF) applies to their industry, through the axes of risk, opportunities, dependencies and impacts. It aims to support the industry in managing associated risks, capturing relevant opportunities and preparing for anticipated policy developments that will yield new compliance and disclosure requirements.

More >
White Paper: Climate Reporting Blueprint

This white paper, based on a collaborative roundtable with Pelt8, CelciusPro and 15 organisations from the public and private sector, discusses the challenges and best practices of climate reporting. It aims to be a starting point for companies navigating climate reporting and sustainability reporting challenges.

More >

Kind Regards,

The SSF Team


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