International coordination on sustainability issues

Key international standard-setting bodies ensure consistent standards for addressing climate-related and other nature-related risks in the financial sector and for investor protection in the area of sustainability. FINMA welcomes the development of internationally coordinated solutions and is actively involved in this work.

Climate risks and other sustainability issues have become priority topics for most international standard-setting bodies in the financial market sector. Alongside initial analyses of the impact of climate change on financial institutions and financial stability, various bodies have developed useful standards and recommendations for managing these risks for financial institutions and supervisory authorities. Important contributions have also been made through efforts to establish internationally coordinated climate risk disclosures. Work is also underway on adequate measurement of climate-related financial risks.

FINMA welcomes the development of internationally coordinated solutions and actively contributes to this work, for example within the framework of the Financial Stability Board (FSB), the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO), as well as in the context of the work of the International Association of Insurance Supervisors (IAIS) on climate risks. FINMA also uses its membership of the Network for Greening the Financial System (NGFS) to contribute its supervisory perspective, establish contacts with foreign supervisors and strengthen its expertise.

FINMA coordinates its international activities with the Federal Department of Finance and the Swiss National Bank.