The Ordinance on Climate Disclosures has been in force since 1 January 2024. It assumes that the obligation for large companies to report on climate matters is fulfilled if the company implements the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Since then, the content of the TCFD recommendations has been incorporated into international standards and the Task Force has been dissolved. According to the Federal Council's proposal, the obligation to report on climate-related matters should therefore be fulfilled in future, if this is done in accordance with an internationally recognised standard or the sustainability reporting standard used in the European Union.

The proposal also establishes minimum requirements for net-zero roadmaps (formerly "transition plans") for the climate-friendly alignment of financial flows that describe the planned path to the net-zero target by 2050. These requirements for financial companies differ from the minimum requirements for companies in the real economy due to the different nature of their business activities.

Finally, an electronic format that is human- and machine-readable must be used for reporting, which in future will also allow publication on international platforms.

The amended Ordinance on Climate Disclosures is due to enter into force on 1 January 2026.

Federal Council opens consultation on amending the Ordinance on Climate Disclosures