After the Vote against the Swiss Responsible Business Initiative: How to prepare for the Implementation of the Indirect Counterproposal?
On 29 November 2020, Swiss voters rejected the Responsible Business Initiative. As a result, the indirect counterproposal to the initiative will enter into force. It introduces reporting obligations on environmental, social and governance (ESG) matters for Swiss companies of public interest, mandatory human rights due diligence and reporting obligations regarding conflict minerals and child labour. As the new regulations are expected to enter into force in 2021, companies should assess their obligations and prepare to implement and enhance their ESG reporting and compliance programmes.