Since 2021, SIFEM has expanded its strategy to focus on climate change mitigation and adaptation, in addition to its core strategy on economic and social inclusion in emerging countries. This builds on the Swiss Federal Council’s (the Swiss government) strategic objectives for SIFEM for the period from 2021 to 2024, which requires SIFEM to contribute actively to the goals of the Paris Agreement. More explicitly, it requires all new investments to be compatible with these goals and the countries’ own national climate targets and at least 25% of new investments to be fully committed to climate protection. (See Strategic Objectives 2021-2024).
In addition to the current internal Responsible Investment Policy, a new climate investment strategy is currently being developed and is expected to be approved by the Board in the course of 2023. It will formalize the already applied internal guidelines and bring them in line with Switzerland’s climate targets and commitments. SIFEM already endorses the EDFI Statement on Climate and Energy Finance.
Since the introduction of the new climate objectives in 2021, SIFEM has not provided and will not provide direct financing to the coal, gas, or oil sectors. Since its inception, SIFEM has followed an indirect investment strategy by investing in specialized local investment funds and financial institutions. SIFEM requires the investment funds to be aligned with the Paris Agreement. For financial intermediaries, the exclusion list and internal guidelines apply to the credit line provided by SIFEM but not to their entire loan portfolio.
Contact: Mirjam Garzon, Deputy Head Business Services Management, mirjam.garzon@sifem.ch, +41 79 660 35 49
