Until now, Switzerland has lacked clear, comparable disclosures in the area of climate. The Federal Council wants to make this possible with the new ordinance. At its meeting on 23 November 2022, it therefore adopted the executive ordinance on climate reporting for large Swiss companies and brought it into force on 1 January 2024. The ordinance provides for the mandatory implementation of the internationally recognised recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) for large Swiss companies.
Public companies, banks and insurance companies that employ at least 500 people and have a balance sheet total of at least 20 million Swiss francs or a turnover of more than 40 million Swiss francs are obliged to report publicly on climate issues.