Sustainable Finance

VAV Sustainable Finance Priorities

For years, the VAV has been aware of the role the financial sector can play in the transition to a sustainable economy and recognises the importance of taking clients' ESG preferences into account as a differentiating feature in wealth management. Against this backdrop, in 2021 the VAV launched the initiative ‘Sustainable finance – as an opportunity for Wealth Management Banks’. The aim of this is to support both private and institutional investors in investing sustainably.

Reporting

After the popular initiative ‘For responsible businesses – protecting people and the environment’ was rejected in November 2020 and the indirect counter-proposal passed by Parliament in June 2020 was given preference, the Federal Council decided to implement it in August 2021 through an implementing ordinance in the Swiss Code of Obligations. In November 2022, the Federal Council adopted the Ordinance on Climate Reporting, which came into force on 1 January 2024. Since then, large companies have been required to report annually on non-financial matters.

In December 2024, the Federal Council opened a consultation process on amending this ordinance in order to bring it into line with international developments, which, among other things, stipulates that reporting must refer to an ‘internationally recognised standard’ or the ‘standard used in the European Union’.In addition, minimum requirements for specific and stricter timetables for companies in the financial sector are to be introduced.

In its position statement on this matter, the VAV called for pausing the process, at least until the regulatory developments in the EU have been finalised. The VAV also rejects the introduction of specific transition plans for the financial sector that also include ‘Scope 3’ emissions. In June 2025, the Federal Council decided to suspend this revision until the European Union has decided on its planned simplifications, but no later than spring 2026.