On 16 December 2022, the Swiss Federal Council published its position paper on next steps to be expected regarding the prevention of greenwashing in the financial sector.
Greenwashing commonly refers to any practices of knowingly or unknowingly deceiving or misleading clients or investors about the sustainable characteristics of financial products and advisory processes. We are referring for further details to our SW newsletter of July 2022 on Regulatory Developments in Sustainable Finance.
The current Swiss regulatory framework does not yet have legislative or regulatory requirements on transparency or compliance with specific sustainability criteria aimed at preventing greenwashing risks for financial services or products apart from…
