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SDG Planning Calender 2020

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Swiss financial center joins international efforts for net-zero carbon emissions

The Swiss financial center aims to take the lead in sustainable finance – globally. One of the most effective ways forward for the financial sector is to sign up to international net-zero alliances, a step supported by Switzerland’s three largest financial industry associations

To combat climate change and meet the goals of the Paris Agreement – to limit global warning to 1.5˚Celsius above pre-industrial levels and reach net-zero emissions of greenhouse gases by 2050 – everyone can do their part. The Swiss financial sector has not remained on the sidelines, as it is well aware that shaping the future not only requires ambition but also action.

Various sector-specific initiatives aiming for net-zero emissions among banks, insurers and asset managers have thus seen the daylight. To qualify as “net zero,” emissions of greenhouse gases may not exceed the amount that can be absorbed by natural and technical sinks. The purpose of the net-zero initiatives is to support the global transition of the real economy toward net-zero greenhouse gas emissions and increase the pace of efforts to combat climate change. The creation of industry-wide common standards to formulate credible climate targets is a key component.