Climate benchmarking in the Swiss financial market
Bern, 9.11.2020 - For the first time, the entire Swiss financial market has undergone voluntary climate compatibility testing. The initiative came from the Federal Office for the Environment FOEN in collaboration with the State Secretariat for International Financial Matters SIF. The results of these representative tests create transparency while supporting the efforts of the financial institutions involved to guide their investments onto a climate compatible pathway. The results show initial progress, but do not meet the target if the Swiss financial centre is to play a leading role in sustainable financial flows. It is still investing too heavily in oil and coal extraction. Pension funds can make an important contribution to the climate targets if they implement their planned building renovations.