Swiss number of drivers#
This represents a crucial step towards better understanding the climate impact of financial markets and key drivers of change over time.
For the first time, 2DII and its partners were able to measure progress across a vast swathe of the financial sector over the past three years, shedding light on the distinction between portfolio reallocation and real-world emissions reductions.Ĭritically, the assessment showed that the Swiss financial sector’s consideration of climate issues has increased demonstrably since the 2017 study, resulting in: The study assessed the alignment of the Swiss financial sector with climate benchmarks, using 2DII’s Paris Agreement Capital Transition Assessment (PACTA) methodology. A new module for Swiss real estate and mortgage portfolios also enabled the assessment of three-quarters of all Swiss residential properties. The report, “ Bridging the Gap,” is based on a climate compatibility assessment of 179 Swiss financial institutions representing around 80% of the market, more than double the number of institutions that participated in the 2017 pilot study. There has been a dramatic increase in the number of Swiss financial institutions taking climate action, but overall the sector is still not aligned with the Paris Agreement goals, according to new report published by 2° Investing Initiative (2DII) in partnership with the Swiss Federal Office for the Environment (FOEN) and the consultancy Wüest Partner. Switzerland is the first of several major European financial centers – including France, Austria, Sweden, and Norway – set to measure progress on finance-related climate goals in the run-up to COP26. This broad, comparable analysis covering all major Swiss financial market participants shows progress on alignment with climate goals, but major gaps remain.