Switzerland's participation in International Platform on Sustainable Finance (IPSF)
Bern, 04.03.2020 - Switzerland has joined the International Platform on Sustainable Finance (IPSF). This multilateral forum's aims are closer international coordination and a more in-depth exchange on environmentally sustainable finance. The platform's principles correspond to those set by Switzerland in this area.
The platform was set up in October 2019 on the fringes of the Annual Meeting of the International Monetary Fund (IMF) at the initiative of the European Commission, and is part of the international efforts to meet the commitments under the Paris Climate Convention. In addition to the EU, Argentina, Canada, Chile, China, India, Kenya and Morocco have joined the IPSF to date. International organisations like the OECD or the Coalition of Finance Ministers for Climate Action, which Switzerland also joined last October, participate as observers as well.
The aim of the IPSF is to ensure that more private capital flows into environmentally sustainable investments. To this end, the platform wants to exchange information in order to promote best practices in this area. If need be, it can contribute to the coordination of sustainable finance initiatives and approaches.
During its meeting on 29 January 2020, the Federal Council instructed the Federal Department of Finance (FDF), in consultation with the Federal Department of the Environment, Transport, Energy and Communications (DETEC) and the Federal Department of Foreign Affairs (FDFA), to submit the membership request to the IPSF Secretariat. The IPSF members have agreed to the request.
The Federal Council considers that the platform's aims are broadly in line with Switzerland's climate policy stance. The conditions for Switzerland to play an active part in the IPSF are thus met. Its involvement will enable more intensive dialogue and cooperation with major international partners, and facilitate the achievement of the country's policy goals as regards sustainable finance. Participation will not result in any additional political or financial obligations for Switzerland.
Address for enquiries
Anne Césard, Communications, State Secretariat for International Finance SIF
Tel. +41 58 482 62 91, email@example.com