Climate and finance: What is Switzerland's role?
Sustainability is also becoming an increasingly important issue in financial market policy. The Federal Council is now defining what role Switzerland should play in these discussions.
The issue of sustainable development is also becoming increasingly important for financial market policy. This is currently reflected in the work of the G20 in the financial sector (Finance Track), which under the Chinese presidency has for the first time created a study group on "Green Finance", in which Switzerland is also represented. At the same time, the Financial Stability Board (FSB) and the International Monetary Fund (IMF) are looking into the potential impact of climate change on financial market stability.
State as mediator
Switzerland actively participates in the relevant work of international financial bodies and strives to pursue a consistent policy at the national and international level. The Federal Council has now adopted principles for this policy and Switzerland's role. They are based on the primacy of market-based solutions and the subsidiarity of state action, and emphasize transparency and long-term orientation. The state can act as a facilitator to support the industry's efforts to open up the business field of sustainable investment.
With regard to the issue of environmental sustainability in the context of financial market policy, the Federal Council sees both the potential risks for financial stability and the opportunities for the Swiss financial center. Switzerland has the potential for a long-term competitive advantage in the area of sustainable investment thanks to its expertise in the environmental field, favorable framework conditions and a strong financial sector with great expertise.
