Sustainability

Our reports with sustainability and climate focuses show how we live sustainability as an integrated business principle.

Annual Report

This annual report comprises the management report, the corporate governance report, the compensation report and the financial statements of the Zürcher Kantonalbank group and its parent company. Additionally, the management report includes the focus report on the public service mandate for the attention of the Parliamentary Committee for the Supervision of Commercial Undertakings (AWU) of the Cantonal Parliament. The public service mandate comprises the support mandate, the service mandate and the sustainability mandate. Selected sustainability topics that are particularly relevant to the public service mandate for the financial year 2023 are also presented in the Annual Report 2023. A summary of the “Disclosure of climate-related financial risks 2023” is also included.

Download Annual Report 2023 (PDF, 6 MB)

Sustainability Report

The sustainability report is the report on non-financial matters in accordance with article 964a et seq. of the Swiss Code of Obligations. It was prepared in accordance with the GRI Standards.

Download Sustainability Report (PDF, 695 KB)

GRI Index 2023 (PDF, 122 KB)

Climate report

The climate report is based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). It contains qualitative and quantitative information on climate risks and opportunities and implements the first requirements of the Net-Zero Banking Alliance (NZBA), which Zürcher Kantonalbank joined in December 2022.

Download Climate Report (PDF, 778 KB)

Disclosure of climate-related financial risks

Regulatory disclosure is made in accordance with the requirements of the Swiss Financial Market Supervisory Authority FINMA, which are based on the TCFD’s recommendations. The requirements set out in the FINMA Circular 2016/1 “Disclosure – Banks” are relevant for the disclosure. The information on climate-related financial risks in accordance with Annex 5 of the Circular is part of the document “Quantitative and qualitative disclosure of capital, liquidity and climate-related financial risks” as at 31 December, which will be available from the end of April of the following year.

UN Principles for Responsible Banking (UN PRB)

In 2021, Zürcher Kantonalbank joined the United Nations Principles for Responsible Banking (UN PRB). This voluntary initiative obliges participants to conduct an annual self-assessment of their progress in implementing the principles.

Download "PRB-Reporting and Self-Assessment.pdf (PDF, 328 KB)

We are aware of the important role played by the financial sector in efforts to achieve sustainable development worldwide and greenhouse gas neutrality by 2050. In our financing and investment businesses, as well as in our own operations, we are guided by the Paris Agreement and the goal of achieving greenhouse gas neutrality by 2050.

Guidelines

The goals of sustainable development and greenhouse gas neutrality have been explicitly anchored in the article of the Zürcher Kantonalbank Act (PDF, 162 KB) on Zürcher Kantonalbank’s purpose as of 1 January 2024.

In 1995, Zürcher Kantonalbank joined the Financial Sector Initiative of the UN Environment Program. This was followed in 2009 by the signing of the six United Nations Principles for Responsible Investment (UN PRI). In 2021, we joined the UN Principles for Responsible Banking (UN PRB).

Financing business

Zürcher Kantonalbank joined the Net-Zero Banking Alliance in December 2022. Our bank thus aims to achieve net zero by 2050 and commits in its financing business to pursue scenario-based targets aligned with the 1.5°C climate target. As part of this commitment, Zürcher Kantonalbank has defined the first CO₂ reduction pathway for the residential mortgage business.

Investment business

For our investment business, we are guided by the United Nations’ six Principles for Responsible Investment (UN PRI), and we report on them annually. In addition, our Asset Management division joined the Net Zero Asset Managers Initiative.

In our active investment solutions, we manage assets in accordance with the ambitious ZKB sustainability standard. The ZKB sustainability standard includes at minimum the sustainability approaches of CO₂e reduction, ESG integration, avoidance of controversies and the pursuit of a stewardship approach. The active investment solutions relate to portfolio management mandates and investment funds, with the exception of indexed, individualised and third-party managed investment solutions and investment funds in the area of alternative investments.

We also offer passive (indexed) investment solutions with sustainability approaches.

Own operations

Our environmental programme defines the climate targets related to our operations. The aim of the environmental programme is to continuously reduce CO₂e emissions. As part of this programme, we have been able to reduce our carbon footprint by 68 percent, from 7,040 CO₂e tonnes to 2,263 CO₂e tonnes, since 2010. The goal of our 2023–2030 environmental programme is to reach net zero by 2030. We offset 100 percent of the remaining unavoidable CO₂e emissions and are increasingly using negative emissions technologies (NET).

Environmental management system

Since 2002, our environmental management system is certified according to the international standards of ISO 14001. The certification demonstrates our consistent implementation of the required standards and the increase in resource efficiency.

SQS environmental management system certificate (PDF, 524 KB)

Overview of CO₂ targets

We have defined the following climate targets for the financing business, the investment business and our own operations. Further details can be found in the Climate Report 2023.

Download CO2 targets (PDF, 105 KB)

We promote industry initiatives and join membership and partnership programmes to this end.

We subject our sustainability efforts to external assessment through ESG ratings and participate in various industry-relevant comparisons.

ESG Ratings