Switzerland is preparing to draw up a law that could toughen the rules for companies’ financial disclosures in regards to climate change.
This
week the Swiss officially backed the Task Force on Climate-related
Financial Disclosures, a body established by the Basel-based Financial
Stability Board.
The task force issues recommendations to help investors and
businesses assess their exposure to the risk of climate change in four
areas: governance, strategy, risk management and metrics.
Major Swiss companies have already adopted the task force’s
recommendations, the government said, and in the course of 2021 a bill
should be drafted to make those recommendations binding.
The
proposed law would still have to be voted upon by parliament, said a
spokesperson for the State Secretariat for International Financial
Matters....
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