The Federal Council Will Require More Companies to be Accountable
Published: Friday, Sep 22nd 2023, 12:00
Mise à jour le : Vendredi, 13 octobre 2023, 14:12
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The Swiss Federal Council has proposed to strengthen the sustainability of Swiss companies by introducing new reporting requirements. Companies with 250 or more employees will be required to report on their environmental, human rights and anti-corruption risks, as well as the measures they are taking to address them. This is in line with EU regulations, which currently require companies with 500 or more employees to report on their sustainability. The Council has also proposed that companies be given the choice of using either the EU standard or an equivalent standard, such as the OECD standard, for their reporting. Additionally, the Council is considering a third-country rule to determine whether foreign companies working in Switzerland should be subject to Swiss law. A consultation on the sustainability reporting requirements is expected to be presented by July 2024.
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