SWI SECO announced SWI GVT is further developing the voluntary Swiss Climate Scores introduced in 2022 to enhance the climate transparency of financial products.
Follows SWI GVT Jun. 2022 launched new climate transparency scores, see #142015.
Document dated Dec. 8, 2023, received from SWI SECO Dec. 12, summarized Dec. 15.
Background
Swiss Climate Scores give institutional and private investors comparable, meaningful information on extent to which financial investments compatible with climate goals.
When introduced in 2022, SWI GVT said it would regularly review them, adapt to latest developments as necessary, investigate voluntary uptake by Swiss financial firms.
Updates to Scores
Some aspects refined to facilitate implementation by industry, be clearer for investors.
Optional questions now asked on climate-related investment goal, firms stating and justifying whether financial product is climate aligned/helps mitigate climate change.
Exposure to renewable energy must be disclosed alongside exposure to fossil fuels.
SWI GVT recommends Swiss financial market players create comparable, meaningful transparency on climate alignment for all investments/client portfolios, apply Scores.
In 2024 SWI GVT will examine the extent of voluntary take-up of Climate Scores.
Effectiveness
Swiss Climate Scoresamendments must be implemented by Jan. 1, 2025.
