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  4. Sustainability Report
    1. Geschäftsbericht
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    3. Zwischenbericht
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  5. 5 Climate Report
    1. 2 Responsible business conduct
    2. 3 Responsible financing
    3. 4 Responsible investing
    4. Notes
  6. 5.1 Introduction
    1. 5.2 Governance
    2. 5.3 Strategy
    3. 5.4 Risk management
    4. 5.5 Key figures and targets

5.1 Introduction

Relevance of the topic for SZKB and its objectives

Sustainability, with climate as a key component, holds significant strategic importance for SZKB. The Bank Council has adopted SZKB’s sustainability strategy, which covers the three dimensions of Environment (E), Social (S) and Governance (G), abbreviated to ESG.

SZKB’s climate reporting is based on the requirements of Swiss legislation non-financial matters as per Articles 964a and following of the Swiss Code of Obligations (CO) and the regulatory requirements of the Swiss Financial Market Supervisory Authority (FINMA). As part of this process, SZKB prepares its climate reporting in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which have been incorporated into the new IFRS Sustainability Disclosure Standards of the International Sustainability Standards Board (ISSB).

SZKB’s climate targets are listed on the right. All climate targets, including in particular quantitative CO₂ emissions targets, are aligned with the objectives of the Swiss Climate Strategy (Federal Office of Energy FOE: Energy Perspectives 2050).

 

Management approach

Governance
Governance at Schwyzer Kantonalbank is based on the national, cantonal and internal requirements, which are explained in the following sub-chapters. Climate reporting focuses on the role of the Executive Board and the role of the Bank Council in managing climate-related risks and opportunities.

Strategy
With its sustainability strategy, SZKB has laid the foundation for integrating environmental, social and governance factors into the company’s business practices. The strategy focuses on ensuring the company’s long-term resilience to climate-related risks and opportunities, which are specifically addressed by the TCFD framework. The aim is to create transparency and promote responsible management of climate-related risks and opportunities in order to inform the company’s stakeholders (e.g. investors, clients, employees and regulatory authorities) and to generate long-term value.

Risk management
SZKB has developed and integrated an ESG risk management system into its overall risk management framework. All three dimensions (E, S and G) form an integral part of SZKB’s risk management. A special focus is also placed on climate-related financial risks. SZKB follows the recommendations of the TCFD, thereby ensuring a transparent, consistent and strategic approach to climate risks and opportunities while enhancing its resilience to the challenges posed by climate change.

Key figures and targets
An essential part of the Climate Report is the transition plan, which serves as a long-term roadmap for decarbonisation and adapting to climate-related challenges. The plan includes key metrics, such as CO₂ emissions reductions, and outlines objectives for integrating climate and sustainability considerations into SZKB’s business models and financial products. The transition plan also includes strategic targets, timeframes and necessary adjustments or measures.

 

Climate targets under the sustainability strategy1

FocusSustainability ambitions and objectives
Responsible business conductSustainability ambition: «We are committed to being a responsible company that acts with integrity and in alignment with our values. As a bank, we acknowledge our responsibility to our stakeholders. We strive to enhance overall trust in the financial sector and ensure the satisfaction of our clients and employees through our responsible operating practices, which reflect the results of specific measures taken. It is also important for us to recognise and reduce our negative impacts on the environment. Ultimately, we want to support local projects in making a positive contribution to society.»
8   ...towards our employeesBy 2030, reduction in greenhouse gas emissions from transportation (Scope 3) in accordance with Switzerland’s climate strategy (reduction of 21% compared to reference year 2021).
13 ...towards our environmentBy 2027, SZKB will reduce its operational CO₂ emissions by 15.8%, or 145t (base year 2021), to 770t.
Responsible financingSustainability ambition: «We promote sustainable financing. As a bank, we recognise our role within society as an enabler of the development of sustainable activities. We are committed to expanding access to sustainable financial services for private and professional clients while integrating environmental and social criteria into our financing solutions. We aim to reduce the greenhouse gas emissions of our financing portfolios and achieve net-zero emissions by 2050.»
17 Sustainable mortgage portfolioThe emissions intensity of mortgages² financed will be reduced by a minimum of 42% by 2030 compared to the 2022 base year.
18 Sustainable mortgage portfolioBy 2030, the emissions intensity of commercial real estate financed will be reduced by a minimum of 40% compared to the 2022 base year.
Responsible investingSustainability ambition: «We promote sustainable investments. As a bank, we recognise our duty to manage our clients’ assets responsibly with a long-term focus. We are committed to systematically incorporating sustainability aspects into the development of all our portfolios in order to manage sustainability risks. At the same time, we want to offer our clients sustainable products that align with their ESG preferences and expectations. Ultimately, we see ourselves as representatives of our clients in regard to all investment recipients and seek to work towards more sustainable business development on their behalf.»
25 Sustainable financial productsBy the end of 2025, at least 20% of asset management mandates should reflect client preferences that are classified as «Aware», «Focused» or «Effective», and by the end of 2030, this should increase to at least 50% of all asset management mandates.
26 Sustainable financial productsThe proportion of SZKB investment funds with alignment with client preferences of «Aware» or «Focused» will be at least 20% of the total of all SZKB investment funds at the end of 2025, and this proportion will increase to at least 50% by the end of 2030.

 

¹ All climate targets, including in particular quantitative CO₂ emissions targets, are aligned with the objectives of the Swiss Climate Strategy (Federal Office of Energy FOE: Energy Perspectives 2050+).

² Financed mortgages include single-family houses and individual flats.

 

 

Additional climate targets for the transition plan

 Sustainability ambitions and objectives
InvestingFunds with «Focused» preference (Ethical Funds):
• 2030: adherence to the 2°C climate target in the Ethical Fund
• 2050: adherence to the 2°C climate target in the Ethical Fund
InvestingAM mandates with «Focused» preference (ethical core mandate)
• 2030: Adherence to the 2°C climate target for asset management mandates with a «Focused» preference
• 2050: Adherence to the 2°C climate target for asset management mandates with a «Focused» preference
OperationsReduction of operating CO₂e emissions:
• 2030: 841.2t CO₂e
• 2040: 678.1t CO₂e
• 2050: 414.4t CO₂e