Partner Initiative: Swiss Climate Foundation

Swiss Re is a founding partner of the Swiss Climate Foundation, which was established to support climate-friendly projects undertaken by small and medium-sized companies (SMEs).

In 2008, we set up the Swiss Climate Foundation with ten other partner companies. It was a response to the introduction of the Swiss CO₂ Act, which provides the basis for the CO₂ levy on heating fuels in Switzerland. This levy is not a conventional tax but an environmental market mechanism: it imposes a charge on the use of heating fuels and then redistributes the money raised – to employers in proportion to their total salary expenses. As a result, financial services companies that consume relatively small amounts of heating fuel but employ large workforces typically receive a net rebate.

Supporting climate-friendly projects of small and medium-sized companies

Today, 32 partner companies allocate the proceeds from these rebates to finance the Foundation, which has a mandate to support climate-friendly projects carried out by SMEs. Over the past 17 years, the Foundation has awarded grants totalling CHF 42 million in Switzerland and the Principality of Liechtenstein. Of this amount, more than CHF 22 million has supported around 220 innovation projects, with the remainder allocated to former grant programmes.

Sponsoring the Foundation's managing director position

In addition to donating its allocated levy rebate, Swiss Re has sponsored the Foundation's managing director position since its establishment in 2008.