Counter-proposal to the Responsible Business Initiative (RBI) - reporting obligation on non-financial matters

The legal text of the counter-proposal to the Swiss popular initiative «For responsible businesses - protecting human rights and the environment» (Responsible Business Initiative, RBI), which was rejected on 29 November 2020, has entered into force on 1 January 2022. This initiative requires companies to take on more responsibility in the area of sustainability and to report on this. These reporting requirements, which initially apply only to large companies, also have an indirect impact on smaller suppliers and increase pressure across the market.

The counter-proposal to the RBI has three main components:

• • Non-financial reporting: environmental indicators (including TCFD reporting), social indicators, labor conditions, respect for human rights and fighting corruption.
  • Due diligence and transparency obligations for minerals and metals from conflict and high-risk areas
  • Due diligence and transparency obligations on suspected child labour

The following companies (together with the domestic or foreign companies they control) are required to publish a non-financial report:

Companies

• of public interest
• with more than 500 FTEs (full-time employees)
• with a balance sheet total of more than 20 million CHF or a turnover of more than 40 million CHF

Regarding the latter two components, each company must assess whether it falls under the due diligence and transparency obligations with regard to minerals and metals from conflict-affected and high-risk areas and with regard to suspected child labour.

Starting in the 2023 reporting year, companies will be required to report on the above-mentioned indicators. In addition, the specific and additional requirements for climate reporting in accordance with the internationally recognised recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which are presented as part of non-financial reporting, will be added from the 2024 reporting year.

Our Services

• • Gap analysis of your current sustainability performance and reporting against legal requirements and internationally recognised standards (e.g. Global Reporting Initiative)
  • Reporting support to meet legal requirements while creating value for internal and external stakeholders. Depending on the size of the organisation, we can recommend a pragmatic approach or a focus on a recognised standard. We support you wherever you need help: From being a sparring partner to editing your report.
  • Support in setting up and developing your sustainability management: We work with you to identify key issues, help you develop management approaches, define relevant metrics, and identify actions, opportunities and risks

Your Benefits

Stay compliant and gain a strategic management tool. You create transparency for your management, employees, suppliers, customers, and other stakeholders.

Improved understanding will help you to identify and manage risks early and turn opportunities into business potential.

Take advantage of this opportunity to advance your sustainability management, improve your position in the field and create added value for internal and external stakeholders.