Finance

A concrete action plan to develop the sustainable finance market

The Swiss financial center intends to be a leader in sustainable finance. The SBA and its members are moving forward with a concrete action plan, which will form a solid basis for renewed growth.

The future is also built on ambition: in recent years, the Swiss financial center has made considerable progress in the area of ​​sustainable finance and it intends to continue in this direction. Behind the expression “sustainable finance”, we find the constantly growing needs of clients, an attractive field of activity and the desire to redirect financial flows towards sustainable and environmentally friendly activities.

For banks in Switzerland, this results in a major opportunity: to attract the assets of an international clientele by excelling in the field of sustainable finance, thanks in particular to the quality of advice and products.

In order to take the next step together, we have drawn up a concrete action plan which will now be implemented. This plan has three main components:

Free self-regulations: thanks to new self-regulations, the SBA sets a minimum standard for its members and ensures a high quality of advice, so as to strengthen the competitiveness and credibility of banks in the field of sustainable finance. Concretely, we formulate for the benefit of our members and especially with them binding prescriptions concerning the processes of investment advice and financing. With regard to the sustainability of financial products, we endorse the standards developed by the Asset Management Association Switzerland (AMAS).

“Net zero emissions” initiatives: we consider “net zero emissions” initiatives to be effective instruments for achieving climate objectives by 2050 and recommend that our members join international “net zero emissions” alliances as well as initiatives concerning sustainable development in the banking sector. We have applied for Net-Zero Banking Alliance supporter status for ourselves as an association.

Training: the SBA and the banks systematically integrate ESG skills in initial and continuous training. We set ourselves the goal that all client advisors have adequate knowledge of sustainability and use it in the advisory process.

Admittedly, this plan of measures is ambitious. But it is essential that, thanks to the clarity of our objectives and our requirements, thanks also to strong competition, we achieve our goals and make the Swiss financial center the world leader in sustainable investment and financing.

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