3 octobre 2022

The Swiss non-financial reporting rules came into effect on 1 January 2022 and the first mandatory non-financial reports for the financial year 2023 are due in 2024.  Swiss listed companies, Swiss bond issuers and FINMA regulated institutions with more than 500 employees will need to publish accurate and complete reports on environmental, social, labour, human rights and anti-bribery matters. Due to the high standard set by Swiss law, it will not be sufficient to publish general and non-material information, LALIVE partner Daniel L. Bühr explains. Companies need to define which « concepts », i.e., generally accepted international standards, they follow in each of the five reporting areas. On labour issues, for example, these are the ILO fundamental conventions.

Providing false information in the reports or failing to make the required reports is a public offence that directly affects the company’s board members. If, for example, media or NGOs provide sufficient evidence that a company provided false information, the competent public prosecutors must initiate a preliminary investigation. « Investors, such as US pension funds, or NGOs, will be inclined to file criminal charges to hold board members accountable. », says Daniel L. Bühr to NZZ  (in German).

NZZ: “Der Konzernverantwortungsbericht ist fällig”, 3 October 2022

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