Attention to sustainable finance is at an all-time high in the news and sustainably managed assets have hit a new peak both internationally and in Switzerland. Despite this increasing attention and the impressive array of publications from actors such as the Swiss Bankers Association and the Federal Council, the significant direct and indirect impacts of financial flows on climate change and biodiversity loss still need to be addressed with more concrete actions. Financial flows, particularly in Switzerland, still have significant negative environmental impacts. And while progress is being made in relation to the integration of climate risks, financial flows are still far from being aligned with international agreements such as the Paris Agreement and especially the Convention on Biological Diversity. PwC and WWF believe this has to change and suggest a Swiss-quality approach to sustainable finance: all financial flows managed or controlled by Swiss financial institutions contribute to a green and resilient economy, thus facilitating the achievement of the Paris Agreement and the Convention on Biological Diversity.
As a global financial centre with a growing strategic interest in sustainable finance, and a country recognized as a leader in digital technologies and innovation, Switzerland is seeking an improved understanding of how digital finance can accelerate the greening of financial flows.
In a new report, 'Nature is too big to fail – Biodiversity: the next frontier in financial risk management', PwC Switzerland and WWF Switzerland find that the financial risks associated with the loss of