The Building Bridges Summit in Geneva brought together several important stakeholders to discuss how they can accelerate the transition to a net-zero economy and realize the Sustainable Development Goals. Switzerland pleaded for a credible climate label for financial products.
Credible Climate Transparency Label
During the event, Federal Councillor Ueli Maurer announced that the Swiss government will be working with the financial sector to develop a climate score. In order to promote the recommendation on climate transparency, the Swiss Confederation is working with the industry and civil society to develop credible and internationally compatible minimum criteria for a seal of approval. This should correctly represent compliance with the Paris target of limiting warming to 1.5 degrees. Switzerland would be a pioneer here.
Among the guest speakers at Building Bridges 2021 were André Hoffman, vice-chairman of Roche; Mirjam Staub-Bisang, country head of Blackrock Switzerland; and Christoph Baumann, deputy head sustainable finance at the State Secretariat for International Finance SIF. They shared their impressions with finance.swiss.