TCFD Framework Assessment

Swiss Life’s climate reporting is based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which were prepared under the leadership of the G20 Financial Stability Board (FSB). Swiss Life’s climate reporting also meets the supervisory requirements of the Swiss Financial Market Supervisory Authority (FINMA) in the area of climate-related financial risks or “financial materiality”.

In addition to the supervisory requirements, legal requirements for non-financial reporting apply in Switzerland as of 2024 with reference to the 2023 financial year (indirect counter-proposal to the Responsible Business Initiative) and more specifically in relation to climate disclosures from 2025 with reference to the 2024 financial year (Ordinance on Climate Disclosures). In this context, the concept of “double materiality” is to be taken into account, among other things. Double materiality comprises both financial materiality and the impact materiality for relevant stakeholder groups.

The climate disclosures encompass four core elements and act as a guide for companies on addressing and disclosing climate-related risks and opportunities. The resulting transparency and comparability in the area of climate-related risks and opportunities can serve as the basis for an orderly transition to a low-carbon and climate-resilient economy. From 2024, the FSB’s International Sustainability Standards Board (ISSB) is assuming responsibility for reviewing the climate disclosures of companies.

Core elements of the TCFD recommendations

For several years now, Swiss Life has been publishing a Sustainability Report within its Annual Report in accordance with international standards. This comprehensive reporting is supplemented by the publication of the climate report.