The study examined the potential and effectiveness with which the 14 largest asset managers operating in Switzerland use their stewardship activities to preserve natural resources.

Nevertheless, it was surprising that none of these firms met the basic criteria for impactful environmental stewardship. For this reason, the top three places in the Environmental Stewardship Rating 2024 remain vacant.

Climate Concerns Viewed as Financial Risks

Banks and insurance companies have committed to climate goals, presenting themselves as sustainable to their customers and the political sphere.

According to the study, however, the asset management sector, the largest and most important business area for banks and insurance companies, makes minimal impact to achieve these goals.

Initiative Being Prepared

Greenpeace Switzerland, which commissioned the study, is urging asset managers to adopt stricter stewardship practices.

Therefore, in collaboration with other organizations, it is preparing a financial sector initiative to ensure that banks, insurance companies, and large investors also contribute to climate and environmental protection goals.

The initiative demands that financial institutions commit to science-based plans that demonstrate how they will align their business activities with the Paris Climate Agreement and international biodiversity goals.