International financial bodies discuss sustainability issues: Federal Council defines Switzerland's role
Bern, 24.02.2016 - The topic of sustainability in connection with financial market policy is currently gaining in importance both in Switzerland and globally. The impact of climate change and other environmental aspects on the stability of the financial system is currently being discussed in international financial bodies such as the G20. At its meeting today, the Federal Council defined Switzerland's role in this work and thereby laid the foundation for a consistent policy for Switzerland.
The issue of sustainable development is also becoming increasingly important for financial market policy. This is currently shown in the work of the G20 in the Finance Track, which under the Chinese presidency created the first ever study group on Green Finance. Switzerland is also represented in this. At the same time, the Financial Stability Board (FSB) and the International Monetary Fund (IMF) are focussing on the potential impact of climate change on financial market stability.
Switzerland is actively involved in the corresponding work of the international financial bodies and is committed to pursuing a consistent policy in Switzerland and at the international level. Today, the Federal Council adopted principles for this policy and Switzerland's role. They are geared to the primacy of market solutions and to the subsidiarity of state action, and focus on transparency and the long-term outlook. The state can provide support as a facilitator for the sector's efforts to open up the business segment of sustainable investments.
On the topic of environmental sustainability in connection with financial market policy, the Federal Council sees not only the possible risks for financial stability, but also the opportunities for Switzerland's financial centre. Thanks to its expertise in the environment sector, the favourable framework and a strong financial sector with immense specialist knowledge, Switzerland has the potential for a long-term competitive advantage in the area of sustainable investments.
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Beat Werder, SIF Communications
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Eliane Schmid, Media Section, FOEN
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