Swiss Insurers, Banks Told To Begin Disclosing Climate Risks
Law360, London (June 2, 2021, 1:25 PM BST) -- Switzerland is to introduce new rules that will require major banks and insurers to publish more detailed information about climate-related financial risks and the way they affect their business strategy and financial planning.
The country's finance watchdog, the Financial Market Supervisory Authority, said on Monday that the new rules that take effect on July 1, would require large financial services business to disclose more information to consumers about climate change and their finances. The disclosures could set out information from an insurer, for example, about its decision to reduce cover for a project considered to be carbon-intensive, such as coal mining....
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