Corporate Social Responsibility
SECO helps employers to run their businesses responsibly while taking into account social and ecological aspects alongside economic considerations.
Companies have a decisive impact on the performance of economies. They create jobs, pay wages and taxes, and thus contribute significantly to social prosperity. In developing countries and emerging economies, companies invest far more than the resources provided by official development assistance.
Sustainable success through Corporate Social Responsibility
SECO is committed to ensuring that company management pursues not only economic goals, but that it takes responsibility for employees, society and the environment and complies with international environmental, labour and human rights standards. This reinforces the positive impact of entrepreneurial activity and minimises potential negative side-effects. Additionally, SECO promotes sustainable business models for public companies. The aim is to ensure they can provide reliable basic services.
SECO promotes business models that favour sustainable development.
Implementation using internationally recognised tools
Corporate social responsibility has become increasingly important in recent years. Binding regulations have followed the growing expectations of consumers, investors and civil society. In Switzerland, new statutory reporting and due diligence obligations regarding minerals from conflict areas and child labour have been in force since 2022.
The UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct provide an important framework for corporate social responsibility. The OECD has also published sector-specific recommendations for mining, textile production and agriculture. Private self-regulating instruments in turn play a key role in the practical implementation of these recommendations. Examples of this include leading sustainability reporting initiatives, sustainability standards and sector-specific multi-stakeholder platforms.
The Swiss Investment Fund for Emerging Markets (SIFEM), the development finance institution of the Swiss Confederation, also reinforces responsible business conduct. All companies that receive investment must fulfil the SIFEM guidelines, which in turn are based on international standards and best practices. SIFEM’s financial intermediaries and their respective portfolio companies and customers must comply with environmental, social and governance standards or work towards achieving compliance with these within a pre-defined time frame. (Approach – SIFEM).