6.1 Overview and Current Framework in the Geographical Scope

In Switzerland, non-financial disclosure obligations are set out in Articles 964a-c of the Swiss Code of Obligations (CO). They entered into force on 1 January 2022 and have applied since financial year 2023. In Europe, the Corporate Sustainability Reporting Directive (CSRD) has been in force since 1 January 2024. The specific reporting requirements are set out in the European Sustainability Reporting Standards (ESRS), which were adopted by the European Commission on 31 July 2023. Under the Omnibus package, the European sustainability reporting framework was revised to narrow the scope of the CSRD, simplify reporting obligations and reduce the number of required disclosures. The ESRS remain the basis for sustainability reporting, although individual requirements and data points have been simplified or adjusted. The IFRS S1 and IFRS S2 standards issued by the International Sustainability Standards Board (ISSB) were published on 26 June 2023 and have been applicable since 1 January 2024. Sustainability and climate reporting requirements and obligations continue to develop rapidly. The following three sections describe the anticipated reporting obligations arising from geographic scope, the proposed next steps and the situations in which external support may be beneficial.