Companies having 500 or more employees, at least CHF 20 million (USD 21 million) in total assets, or more than CHF 40 million in annual revenue will need to comply.
Disclosures of all greenhouse gas (GHG) emissions, both direct and indirect must be reported.
Emissions reduction objectives and the companies’ plans for achieving these targets, are also part of reporting requirements.
After passing the law, the Federal Council’s spokesperson, André Simonazzi said to sustainability news sources:
“Large companies’ transparency on the climate impact of their activities is a key aspect for the markets to function well and for climate sustainability in the financial sector.
To date, Switzerland has lacked clear and comparable climate-related disclosures. The Federal Council intends to make that possible with the new ordinance.”
Legislation like this is forcing businesses to think not just about reporting their impact, but how they will make the change to a more sustainable way.