The Federal Council has suspended revisions to the climate disclosure ordinance until at least early 2026.
Proposed amendments aim to align Swiss rules with evolving international standards and EU developments.
Final decisions on corporate climate reporting requirements are delayed until a broader revision of the Code of Obligations is approved.
At its meeting on 25 June 2025, the Swiss Federal Council announced a decision to pause the ongoing revision of the Ordinance on Climate Disclosures for companies. The move reflects a strategic choice to wait for clarity on both domestic legal reforms and developments in the European Union’s sustainability reporting framework.
The ordinance, which came into effect on 1 January 2024, aims to enhance transparency in corporate climate reporting. It also mandates the Federal Department of Finance (FDF) to ensure international comparability of the rules and define minimum requirements for financial companies to meet climate targets under the Climate Protection Act.
On 6 December 2024, the Federal Council published a consultation draft proposing alignment with international reporting standards and new obligations for financial sector companies to publish climate transition roadmaps. These proposals were broadly welcomed during consultation.
However, feedback from stakeholders urged caution. Many called for a pause in implementation until revisions to the broader legal foundation—specifically, the Code of Obligations—had been finalized. In response, on 21 March 2025, the Federal Council instructed the Federal Department of Justice and Police to draft pragmatic amendments to sustainability-related provisions in the Code of Obligations, including corporate governance and reporting requirements.
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“Implementation of the ordinance on climate disclosures for companies is to be paused until there is clarity about these amendments, and about regulatory developments in the European Union,” the Federal Council stated.
The Council further noted that the EU is currently working on simplifying its own corporate sustainability reporting rules. Switzerland will wait for the outcome of those changes before proceeding—though a final decision on its domestic approach is expected by early 2026.
“The Federal Council will decide on the next steps as soon as the European Union has decided on its announced simplifications, but at the latest in early 2026,” the statement read.
Until then, Switzerland’s climate disclosure reform project will remain on hold. A final resolution is expected once the amended Code of Obligations is approved, but no later than 1 January 2027.
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