The banks say the regulatory requirements for sustainable financial products are high and data collection and reporting expensive.
Keystone-SDA
Some 86% of Swiss banks expect customer demand for sustainable financial products to stagnate or decline in the medium to long term, according to the findings of a survey conducted by the consulting firm EY.
+Get the most important news from Switzerland in your inbox
According to the study, sustainable investments have recently lost considerable momentum as the interest of many customers is lower than originally expected. So-called green financial products therefore remain a niche area that is primarily relevant for institutional investors and wealthy private clients.
More
More
Swiss sustainable finance: world leader or wishful thinking?
From the banks’ perspective, the regulatory requirements for sustainable financial products are high and data collection and reporting expensive. The benefits are often disproportionate to the effort involved.
The banks cite sustainability and climate reporting as the biggest challenge, followed by calculating carbon footprints and dealing with risks and greenwashing.
Translated from German with AI/gw
We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.
Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.
If you have any questions about how we work, write to us at english@swissinfo.ch.
