Building Bridges’ partners, Swiss Sustainable Finance, Asset Management Association (AMAS), Swiss Bankers Association (SBA), and PWC recently published a report to showcase Switzerland’s commitment with regards to net-zero emissions, but also to raise awareness on the importance of attaining carbon neutrality by 2050.
The impacts of climate change are expected to intensify in the upcoming years. Clear climate action is therefore urgently needed from the financial industry. Since the launch of the Glasgow Financial Alliance for Net Zero, many Swiss institutions have implemented sustainable policies. This new study shows that the Swiss financial center is well positioned to attain its net-zero commitments despite the many challenges that still lay ahead. It also indicates that 62% of the total balance sheet of SBA’s members ought to respect the standards set out by the Net-zero Banking Alliance. In addition, another 62% of the assets under the management of AMAS’ members are being invested following the terms of the Net Zero Asset Managers Initiative. The Swiss insurance sector is also a key player in this race to net zero as 48% of the insurance premium volume of the Association of Swiss Insurers’ members are committed to the Net-Zero Insurance Alliance.