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Swiss Re Tops Switzerland Climate Disclosure Leadership Index

Posted on 17 Nov 2009

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The world's second-largest reinsurer, Swiss Reinsurance Co.and Novartis AG, Switzerland's second-biggest drugmaker, topped an index that calculated for the first time the disclosure of CO2 emissions of Swiss listed companies.

“Large companies with an international reach have a clear advantage on carbon disclosure over their smaller and more domestically focused peers,” Christopher Butz, a sustainability expert at Pictet Asset Management, said today in Zurich.

Swiss Re reached 76 points on the Climate Disclosure Leadership index while Novartis had 70 points. Results from the survey of 54 companies listed on the Swiss Stock Exchange were conducted by Pictet and the Ethos Foundation within the framework of the Carbon Disclosure Project.

The survey showed growing awareness of climate-change governance in Switzerland as 74 percent of the responding companies have a body in charge of the issue, up from 68 percent last year.

Butz said Swiss financial companies on average did “very well” by providing ample and transparent information on their CO2 emissions.

Other companies participating in the survey included ABB Ltd., the world’s biggest supplier of power grids, Credit Suisse Group, Switzerland’s largest bank by market value, Nestle SA, the biggest food producer, and Holcim Ltd., the second-largest cement maker.

The Carbon Disclosure Project is an independent not-for-profit organization holding the biggest database of primary corporate climate-change information in the world.