Sustainability is an integral part of Zürcher Kantonalbank’s group strategy, in accordance with the Zürcher Kantonalbank Act and the implementing Guidelines for the Fulfilment of the Public Service Mandate. The goals of sustainable development and greenhouse gas neutrality have been explicitly anchored in the article of the Zürcher Kantonalbank Act on Zürcher Kantonalbank’s purpose as of 1 January 2024.

Our Guidelines

Cantonal Banking Act on Zürcher Kantonalbank

The interests and strategy of the owner are expressed in the Cantonal Banking Law on Zürcher Kantonalbank (PDF, 183 KB). It regulates the legal form, purpose, capital resources, state guarantee, business area, oversight, organisation and profit distribution.

Guidelines for the Fulfilment of the Public Service Mandate

The Guidelines for the Fulfilment of the Public Service Mandate (PDF, 155 KB) concretizes the public service mandate of Zürcher Kantonalbank that is set out in § 2 of the Zürcher Kantonalbank Act.

Group strategy

Sustainability is an integral part of Zürcher Kantonalbank’s group strategy. Our sustainability ambitions are set in our group strategy.

Sustainability policy

The group’s sustainability policy (PDF, 150 KB) implements the sustainability ambitions stipulated in the strategy and sets out the guidelines for all its business activities at group level, in the investment and pension business, in the financing business, in the deposit business, in payment transactions, in its own financial investments, in its operations, its procurement and its commitments. Specifically, requirements and exclusions are defined based on environmental, social and governance (ESG) aspects.

Group mission statement

The Group mission statement describes the identity of Zürcher Kantonalbank. It serves as a compass that guides our actions and the future development of our company and our subsidiaries.

Code of Conduct

The Regulations on the Code of Conduct and Ethics (PDF, 137 KB) apply to the group and serve to promote a uniform and effective corporate and compliance culture within the group. They set out the most important rules of conduct to be observed by all employees.

Procurement policy
Environmentally and social responsible organization of events

Our Reporting

Our reports with sustainability and climate focuses show how we live sustainability as an integrated business principle.

Annual Report

This annual report comprises the management report, the corporate governance report, the compensation report and the financial statements of the Zürcher Kantonalbank group and its parent company. Additionally, the management report includes the focus report on the public service mandate for the attention of the Parliamentary Committee for the Supervision of Commercial Undertakings (AWU) of the Cantonal Parliament. The public service mandate comprises the support mandate, the service mandate and the sustainability mandate. Selected sustainability topics that are particularly relevant to the public service mandate for the financial year 2023 are also presented in the Annual Report 2023. A summary of the “Disclosure of climate-related financial risks 2023” is also included.

Download Annual Report 2023 (PDF, 6 MB)

Sustainability Report

The sustainability report is the report on non-financial matters in accordance with article 964a et seq. of the Swiss Code of Obligations. It was prepared in accordance with the GRI Standards.

Download Sustainability Report (PDF, 695 KB)

GRI Index 2023 (PDF, 122 KB)

Climate report

The climate report is based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). It contains qualitative and quantitative information on climate risks and opportunities and implements the first requirements of the Net-Zero Banking Alliance (NZBA), which Zürcher Kantonalbank joined in December 2022.

Download Climate Report (PDF, 778 KB)

Disclosure of climate-related financial risks

Regulatory disclosure is made in accordance with the requirements of the Swiss Financial Market Supervisory Authority FINMA, which are based on the TCFD’s recommendations. The requirements set out in the FINMA Circular 2016/1 “Disclosure – Banks” are relevant for the disclosure. The information on climate-related financial risks in accordance with Annex 5 of the Circular is part of the document “Quantitative and qualitative disclosure of capital, liquidity and climate-related financial risks” as at 31 December, which will be available from the end of April of the following year.

UN Principles for Responsible Banking (UN PRB)

In 2021, Zürcher Kantonalbank joined the United Nations Principles for Responsible Banking (UN PRB). This voluntary initiative obliges participants to conduct an annual self-assessment of their progress in implementing the principles.

Download 1. UN PRB-Reporting and Self-Assessment (PDF, 328 KB)

Download 2. UN PRB-Reporting and Self-Assessment (PDF, 303 KB)


We are aware of the important role played by the financial sector in efforts to achieve sustainable development worldwide and greenhouse gas neutrality by 2050. In our financing and investment businesses, as well as in our own operations, we are guided by the Paris Agreement and the goal of achieving greenhouse gas neutrality by 2050.


The goals of sustainable development and greenhouse gas neutrality have been explicitly anchored in the article of the Zürcher Kantonalbank Act (PDF, 162 KB) on Zürcher Kantonalbank’s purpose as of 1 January 2024.

In 1995, Zürcher Kantonalbank joined the Financial Sector Initiative of the UN Environment Program. This was followed in 2009 by the signing of the six United Nations Principles for Responsible Investment (UN PRI). In 2021, we joined the UN Principles for Responsible Banking (UN PRB).

Financing business

Zürcher Kantonalbank joined the Net-Zero Banking Alliance in December 2022. Our bank thus aims to achieve net zero by 2050 and commits in its financing business to pursue scenario-based targets aligned with the 1.5°C climate target. As part of this commitment, Zürcher Kantonalbank has defined the first CO2 reduction pathway for the residential mortgage business.

Investment business

For our investment business, we are guided by the United Nations’ six Principles for Responsible Investment (UN PRI), and we report on them annually. In addition, our Asset Management division joined the Net Zero Asset Managers Initiative.

In our active investment solutions, we manage assets in accordance with the ambitious ZKB sustainability standard. The ZKB sustainability standard includes at minimum the sustainability approaches of CO2e reduction, ESG integration, avoidance of controversies and the pursuit of a stewardship approach. The active investment solutions relate to portfolio management mandates and investment funds, with the exception of indexed, individualised and third-party managed investment solutions and investment funds in the area of alternative investments.

We also offer passive (indexed) investment solutions with sustainability approaches.

Own operations

Our environmental programme defines the climate targets related to our operations. The aim of the environmental programme is to continuously reduce CO2e emissions. As part of this programme, we have been able to reduce our carbon footprint by 68 percent, from 7,040 CO2e tonnes to 2,263 CO2e tonnes, since 2010. The goal of our 2023–2030 environmental programme is to reach net zero by 2030. We offset 100 percent of the remaining unavoidable CO2e emissions and are increasingly using negative emissions technologies (NET).

Environmental management system

Since 2002, our environmental management system is certified according to the international standards of ISO 14001. The certification demonstrates our consistent implementation of the required standards and the increase in resource efficiency.

SQS environmental management system certificate (PDF, 524 KB)

Climate targets

Overview of CO2 targets

We have defined the following climate targets for the financing business, the investment business and our own operations. Further details can be found in the Climate Report 2023.

Download CO2 targets (PDF, 105 KB)

Member- and Partnerships

We promote industry initiatives and join membership and partnership programmes to this end.

UNEP Finance Initiative (UNEO FI)

Zürcher Kantonalbank joined the UNEP Statement by Financial Institutions on the Environment and Sustainable Development in 1995. The initiative supports companies in integrating aspects of sustainability.

UN Principles for Responsible Banking (PRB)

In 2021, Zürcher Kantonalbank joined the Principles for Responsible Banking of the United Nations Environment Programme Finance Initiative (UNEP FI). This voluntary initiative commits participants to a unified framework to integrate sustainability across all business areas.

UN Principles for Responsible Investment (PRI)

Zürcher Kantonalbank joined the Principles for Responsible Investment (PRI) in 2009. The goal of the PRI is to ensure that environmental, social and governance issues are considered in investment decision-making processes and to increase transparency for clients.

Net-Zero Banking Alliance (NZBA)

In December 2022, the Zürcher Kantonalbank joined the Net-Zero Banking Alliance, which is convened by the UN and led by the financial industry. In doing so, the bank aims to achieve net-zero greenhouse gas emissions by 2050. It is committing its business activities to scientific-based targets that are aligned with the 1.5-degree climate goal.

Net Zero Asset Managers Initiative (NZAM)

The Net Zero Asset Manager Initiative is an international group of asset managers who are committed to reducing greenhouse gas emissions to zero by 2050 or earlier, consistent with global efforts to limit warming to 1.5 degrees Celsius, and who support investments focused on zero emissions by 2050 or earlier.

Task Force on Climate-related Financial Disclosures (TCFD)

Since May 2022, we are officially a TCFD Supporter. The Financial Stability Board created the Task Force on Climate-related Financial Disclosures (TCFD) to improve and increase reporting of climate-related financial information.

By publicly declaring support for the TCFD and its recommendations, we demonstrate that they we taking action to build a more resilient financial system through climate-related disclosure.

Partnership for Carbon Accounting Financials (PCAF)

As a further step towards greater climate transparency, Zürcher Kantonalbank joined the Partnership for Carbon Accounting Financials (PCAF) in May 2022. Together with 264 other financial institutions, we are helping to develop a transparent standard for the assessment and disclosure of financed and invested emissions. For us, this is an important starting point for identifying climate risks and opportunities.

Forum Nachhaltige Geldanlagen e.V. (Forum for Sustainable Investments)

Zürcher Kantonalbank is a member of the Forum für Nachhaltige Geldanlagen e.V. (FNG) and hosts events for FNG. The goal of FNG is to promote dialogue between the areas of business, science and politics and improve the framework conditions for sustainable investments.

Swiss Sustainable Finance (SSF)

Zürcher Kantonalbank is a member of Swiss Sustainable Finance (SSF) since 2015. Swiss Sustainable Finance strengthens the position of Switzerland in the global marketplace for sustainable finance by informing, educating and catalyzing growth. The organisation counts on a broad members’ base ranging from financial service providers, investors, universities, public sector entities to other interested organisations.


Zürcher Kantonalbank is a member of swisscleantech. The Swiss business association is committed to a climate-friendly economy and a CO2-neutral Switzerland by 2050 at the latest.

ESG Ratings and Benchmarks

We subject our sustainability efforts to external assessment through ESG ratings and participate in various industry-relevant comparisons.

ESG Ratings


2023: AA


2023: Status: Prime, Rating C



WWF Retail banking study

2020: The overall result of Zürcher Kantonalbank was rated as "contemporary".

PACTA (federal climate test)

Find more Information on our PACTA-Information (German) (PDF, 452 KB).

Honors and Awards

Wanderpreis Energie- Modell-Zürich

In order to optimize our energy efficiency, we are involved in the large consumer group Energie-Modell Zürich. As part of this initiative, a prize is awarded every two years. We won the prize for the first time in 1997 and received it again in 2023.

Awards for our Funds and Fund manager

Our Funds and Fund manager are regularly honored with Fund Awards. Find out more about our awards.