The current Swiss regulatory framework is based on the EU Non-Financial Reporting Directive (NFRD), the EU Regulation on supply chain due diligence obligations for importers of tin, tantalum and tungsten, their ores, and gold originating from conflict-affected and high-risk areas and the proposal of the Dutch Child Labour Due Diligence Act. In the meantime, however, the EU has revised the NFRD and it will be replaced by the Corporate Sustainability Reporting Directive (CSRD). In addition, the EU is preparing a new directive on corporate sustainability due diligence obligations (as currently proposed, CS3D). Against this background, the Swiss Federal Department of Justice has analysed and compared the CSRD, the CS3D and the Swiss rules to gain a better understanding on relevant deviations and the impact of the EU regulations on Swiss companies. The key elements of this report and the next steps as proposed by the Swiss Federal Council are summarised below.

Due diligence obligations

Reporting obligations

Impact of the CS3D and CSRD on Swiss companies

Position of the Swiss Federal Council

 

  • Press release of the Swiss Federal Council (in German): Click here
  • Report of the Swiss Federal Department of Justice (in German): Click here

If you have any questions on the topic of ESG under Swiss or EU law, please contact Menno Baks. Loyens & Loeff provides tailor made expert solutions to ensure that our clients are covered from a risk management perspective up to a full integration of ESG into strategy and operations. Among others, we can assist with gap analyses, legal review of ESG policies, legal questions on duties and liability risks for directors, and transactional ESG due diligences. Originally published by Valérie Schrämli and Menno Baks.