FINMA climate risk reporting

Pursuant to Article 40d paras. 1 and 3 of the Swiss Federal Act on the Reduction of CO₂ Emissions (CO₂ Act, SR 641.71) and Article 129a paras. 1 and 3 of the CO₂ Ordinance (CO₂ Ordinance, SR 641.711), FINMA must regularly review the climate-related financial risks for supervised institutions and report on them. FINMA has long taken material climate-related financial risks into account in its supervisory practice on the basis of its general supervisory mandate under the financial market laws. Since 2025, FINMA has also published an annual report on climate-related financial risks in the Swiss financial market.

The reporting covers the following three aspects: 

• Climate-related risk exposure at Swiss financial institutions: FINMA provides aggregated information on physical and transition risks across three different time horizons.

• Management of climate-related financial risks by financial institutions: FINMA provides information on its investigations of how institutions manage climate-related financial risks and the insights gained. This is done in anonymised form. 

• Measures taken by FINMA: FINMA communicates both its general measures, such as the publication of FINMA Circular 26/1 “Nature-related financial risks”, and anonymised examples of institution-specific measures.

FINMA published the first climate risk report as an annex to the FINMA Risk Monitor 2025.