6.1 Overview and Current Framework in the Geographical Scope

In Switzerland, the non-financial disclosure obligations are stated in Art. 964a-c of the Swiss Code of Obligations (CO). They were enacted on January 1, 2022, and have applied since the 2023 financial year. In Europe, the Corporate Sustainability Reporting Directive (CSRD) has been in effect since January 1, 2024. The final guidelines for implementing the European Sustainability Reporting Standards (ESRS), along with the complete list of required reporting metrics, developed by the European Commission (EC) and the European Financial Reporting Advisory Group (EFRAG), were published on May 31. On March 6, 2024, the U.S. Securities and Exchange Commission adopted new regulations to improve and standardize climate-related disclosures by publicly traded companies and for public offerings. The IFRS S1 and S2 standards, issued by the International Sustainability Standards Board (ISSB), were released on June 26, 2023, and have been in effect since January 1, 2024. Regulations and reporting requirements for sustainability and climate disclosures are evolving at a rapid pace. The next three sections will cover the reporting obligations based on geographical scope, the proposed next steps, as well as situations in which external support could be beneficial.