Ahead of Building Bridges 2025, we sat down with Sabine Döbeli and Veronica Baker, from our Founding Partner Swiss Sustainable Finance, to learn about what has happened since our last event with the GSG Impact “Swiss National Partner” launch.

Since launching the Swiss Platform for Impact Investing (SPII) at Building Bridges last year, where have you seen the most exciting or surprising collaboration emerge?

Veronica: It was such a meaningful moment to officially launch Swiss Platform for Impact Investing (SPII) at Building Bridges in December. The year before, we held a closed-door session to introduce the initiative and invite others in and it was great to see how that groundwork helped bring more organisations into the conversation by the time we launched. It felt very fitting to do it at BB, with its collaborative spirit. Since then, we’ve been quite busy laying the foundation: our board has been developing a theory of change, and we’re preparing to launch the website and a quarterly SPII newsletter later this month.

What’s really stood out for me is the webinar series we’ve co-hosted with GIIN. Each webinar focuses around one specific theme within impact investing, highlighting one GIIN resource or tool per session and diving deep into it with Swiss practitioners who are actively using it. We’ve covered topics like healthcare and climate solutions, and the response has been fantastic.

Another rewarding part of our collaboration with GSG Impact is their network which has been incredibly welcoming. We’re now scoping work together on an EU-wide market sizing exercise for impact investing. It’s a big step towards understanding how much capital is being invested and who the key players are. Alongside that, SFG and iGravity have been leading a project to map the Swiss ecosystem. Seeing how much has already come together under the SPII umbrella, beyond SSF’s own scope, really shows its potential to act as a connector across different actors and initiatives.

Sabine: Yes, we saw from the beginning that there was a real need to bring different players together more deliberately. The projects Veronica mentioned reflect that willingness. You can feel a momentum building. People want to engage more deeply, to go beyond individual initiatives and help shape a stronger, more connected ecosystem. SPII has created space for that dialogue to become more structured and impactful.

People often talk about tools and policies in sustainable finance, but how important is trust and personal connection in making progress?

Sabine: It’s absolutely essential. When we put together the SPII Executive Board, we made a deliberate effort to ensure a balance of perspectives. We brought in actors from across the ecosystem—specialist asset managers, sustainable investment teams, industry associations, and public sector voices like SECO. That’s been really important in laying a foundation of inclusivity and openness – but also to create the needed trust. It also reflects our vision of impact investing as something that spans multiple asset classes, not just private equity or private debt.

Veronica: I completely agree. One of the main goals of SPII is to build a sense of community in what is still quite a fragmented space. We see differences between Geneva and Zurich, and between different types of investors. Family offices tend to have deep expertise, while other institutional asset owners may be earlier in the journey. To bridge that, we need trust. Having a diverse board with a strong track record helps build that trust, not just in SPII, but in impact investing as a serious lever for change.

Do you think Switzerland is a leader in sustainable finance? If so, what makes that possible?

Sabine: We’ve been analysing the Swiss sustainable investment market for over eight years, and there’s been strong momentum. Of course, there was a bit of a backlash a couple of years ago, but I think that actually triggered some healthy reflection and helped us move forward – we saw a clear turnaround in the data of this year’s market study.

When people ask this question, I always say: it depends how you define leadership. In terms of product development, Swiss asset managers have been incredibly innovative. Many globally significant offerings originated here. One example is the first impact fund available to private investors. During the first Building Bridges we published a report listing all global firsts in sustainable finance created in Switzerland.

Regulatory-wise, we follow a principles-based approach in Switzerland, which has both pros and cons. Especially now, as we watch the EU scale back certain measures, Switzerland’s model might prove to be more resilient. And in some areas, like nature-related and climate risks, we’re genuinely leading. FINMA was the first regulator globally to require financial institutions to consider these risks.

That said, on the demand side, especially from institutional investors, we’re not yet leading. Our pension fund market is highly fragmented, with many small players, unlike in countries with large centralised funds. That makes it harder to engage deeply with complex topics like impact investing.

Veronica: We’ve seen steady growth across all sustainable investment approaches, including impact investing. But impact is still a smaller piece of the puzzle. Part of that is because it requires more: clarity on intention, rigorous measurement, and a long-term commitment. Where I think Switzerland has room to grow is in scaling, both in terms of larger investment sizes and expanding the reach of impact strategies across more asset classes.

There’s been a lot of talk in the media about an ESG backlash. Do you see that playing out in the figures?

Veronica: Yes, there’s media noise around ESG backlash, but when we talk to our members, most say they haven’t seen a major decline in interest. There is still a demand for credible and high quality impact investments. With impact investing in particular, the types of investors drawn to it are usually in it for the long haul. They’re driven by conviction… by personal belief and the evidence of outcomes. These are products that are delivering what they say they will, with robust measurement to back it up. That’s what’s helping this part of the market withstand the backlash.

Sabine: Exactly. From a data perspective, we calculate market shares based only on funds where we have solid information: half of all funds managed in Switzerland, apply one or more sustainable investment approach. With that, sustainable investing has clearly been mainstream for some time, though that doesn’t always speak to the quality of implementation. Impact investing, on the other hand, is still emerging. It’s not mainstream yet, but it’s gaining attention, and conversations around it are becoming more sophisticated.

What are you hoping to get out of Building Bridges this year, and how does it tie into your work with SPII?

Veronica: Personally, Building Bridges is always one of the events I look forward to most each year. It’s not just an excuse to visit Geneva, it’s a rare opportunity to see so many people we usually only connect with online. The density of insight and exchange that happens over just a few days is really special.

The SPII acts as a partner for, the CFA Society Switzerland, which is running a workshop aimed at asset owners, and our Chair, Rosa Sangiorgio, will be on the panel. It’s focused on helping asset owners better understand what impact investing is and what it isn’t. That clarity is crucial for building trust and growing the market, and I’m really looking forward to the discussion.

Sabine: This year, SSF is co-hosting an event with WWF on sustainable real estate. Real estate is a key asset class, especially for asset owners. It can be a real lever for achieving climate and nature goals. We’re also excited about our session on carbon markets with ZCMA. It’s a field that’s re-emerging in just finance, and we believe there’s a lot of potential to strengthen its role and credibility. For me too, Building Bridges is a real highlight. It brings together a dynamic, engaged community. It’s energising to reconnect with people we already work with—and to meet new voices who are helping shape the conversation. I always come away with new ideas and renewed motivation.

We Build Bridges Storytelling Series

Building Bridges is more than just an event—it’s a space for meaningful collaboration, fresh perspectives, and lasting connections. Through our storytelling series, we highlight the personal experiences that shape each edition. If you have a story to share about your engagement with Building Bridges — whether it’s a key insight, a memorable moment, or the impact of the bridges built—we’d love to hear from you!

Do you have a bridge-building story to share? Click here to submit one for review.