Most Swiss banks expect slump in sustainable products

Some 86% of Swiss banks expect customer demand for sustainable financial products to stagnate or decline in the medium to long term, according to the findings of a survey conducted by the consulting firm EY. +Get the most important news from Switzerland in your inbox According to the study, sustainable investments have recently lost considerable momentum as the interest of many customers is lower than originally expected. So-called green financial products therefore remain a niche area that is primarily relevant for institutional investors and wealthy private clients. From the banks' perspective, the regulatory requirements for sustainable financial products are high and data collection and reporting expensive. The benefits are often disproportionate to the effort involved. The banks cite sustainability and climate reporting as the biggest challenge, followed by calculating carbon footprints and dealing with risks and greenwashing. Translated from German with AI/gw How we work We ...