- On 12th January 2021, Switzerland officially became a supporter of the Task Force on Climate-related Financial Disclosures (TCFD), keeping with the nation’s policy on sustainable finance.
- This support comes after the meeting on 11th December 2020 in which the Federal Council presented the proposals that would augment Switzerland’s role as a global leader in sustainable financial services.
- It was recommended that a bill be drafted within the coming year, after consulting with the private sector and associations.
- The Financial Stability Board established the TCFD in 2015 with the aim to develop recommendations for increased financial transparency of companies, with regards to climate change.
- They create a common international framework for companies and financial sector to assess and quantify their exposure to climate risk.
Click to read more: https://assets.bbhub.io/company/sites/60/2021/01/Press-release-TCFD-SwitzerlandV3.pdf