Federal Council plans to expand corporate sustainability reporting obligations
Federal Council plans to expand corporate sustainability reporting…
On September 22, 2023, the Swiss Federal Council announced its key guiding principles for amending the Swiss corporate sustainability reporting obligations. After previously signaling its ambition to align the Swiss reporting requirements with international standards, it does not come as a surprise that the Federal Council affirmed its intention to further align the Swiss reporting obligations with the European Union's Corporate Sustainability Reporting Directive (CSRD), notably by extending the current rules' scope of application and by introducing an audit requirement. A detailed draft of the proposed changes is anticipated by mid-2024.