A Trigger for Change
Claude Amstutz, co-author of the report and senior advisor for sustainable finance at WWF, said the report had been put together by a team of nine people from both WWF and Inrate over the course of about 12 months.
Amstutz added the study had placed a clear emphasis on the environmental and social impact of the banks. In order to be considered a Pioneer or Visionary, the banks would have to show a holistic sustainability approach integrated into the core business.
'There is an urgent need for action in the core business of Swiss retail banks. The rating reports have proven to be a very strong tool to trigger change,' he said.
Amstutz also noted that the report has primarily been received with positivity, although there was also some disappointment among those who ended up at the lower end of the spectrum.
He said WWF will continue to work with these banks in the future to help them become more sustainable and plans to do another review in three years' time.