Corporate sustainability reporting: Revision proposal
Corporate sustainability reporting: Revision proposal
On 26 June, 2024, the Swiss Federal Council opened the consultation procedure on an amendment to the Swiss non-financial reporting rules, aimed at tightening transparency rules on non-financial matters to align them with European law. Most notably, the preliminary draft considerably extends the regulation's scope to apply to public interest companies (i.e., those listed and FINMA-regulated) generally, as well as to ‘large’ privately held companies. It also extends and clarifies the disclosure requirements for sustainability matters. Additionally, the draft requires obtaining assurances from an auditor or a conformity assessment body on sustainability information.