OECD Corporate Governance Factbook 2025: Switzerland
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of Switzerland’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
On 1 January 2022, the new provisions of the Swiss Code of Obligations for better protection of people and the environment and the Ordinance on Due Diligence and Transparency in relation to Minerals and Metals from Conflict-Affected Areas and Child Labour (DDTrO) came into force1.
The draft revision of Limited Company Law was adopted by Parliament on 19 June 2020. The Federal Council has decided that the revision would come into force on 1 January 2023. As all rules relating to excessive remuneration are now set out in law, the Ordinance against Excessive Remuneration in Listed Companies (ORAb) was repealed, effective from 1 January 2023.
The Swiss Code of Best Practice for Corporate Governance was updated in 2023 to reflect the revision of Limited Company Law.
On 21 March 2025, the Federal Council took note of the results of the public consultation on new provisions of the Swiss Code of Obligations on the disclosure of sustainability information by companies and of the updated external study on the impact of EU directives on due diligence in relation to sustainability2.
On 22 May 2024, the Federal Council adopted a message on the federal act introducing a federal register of beneficial owners, due diligence obligations applicable to members of the legal profession in particularly risky activities, and other measures that will strengthen the integrity and competitiveness of Switzerland's financial and economic centre, in line with international standards.
On 27 May 2025, the popular initiative “For responsible large corporations – to protect humans and environment” was submitted. In addition to reporting, this also requires large corporations to comply with due diligence obligations (in the areas of human rights and the environment) and to implement climate gas reduction targets. It also calls for liability regulations and government oversight.
The Swiss Climate Reporting Ordinance, in force since January 2024, requires large public-interest companies to disclose climate-related financial risks and impacts in line with the TCFD recommendations3. It is under review to align with the ISSB standards and the EU’s sustainability reporting framework, with a public consultation held from December 2024 to March 2025.
The Swiss Stewardship Code, launched by the Asset Management Association Switzerland and Swiss Sustainable Finance in October 2023, offers voluntary, principles-based guidance for institutional investors, asset managers, asset owners, and financial service providers on exercising shareholder rights and engaging with investee companies4.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
Switzerland |
217 |
|
-10.3% |
USD 1 935 bn |
206.6% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Note: “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
Note: The share of companies in each jurisdiction where the single largest shareholder and the three largest shareholders own more than 50% of the company’s equity capital. “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Furthermore, among banks a two-tier board and separation of CEO and board chair positions are required.
** Some jurisdictions belong to multiple categories.
* Furthermore, among banks and insurers qualifications of board candidates are defined by supervisor.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
** The provisions for assurance service providers are currently under public consultation or active consideration.
← 1. Companies were given one year to prepare for their new obligations, which is why these were applied for the first time in the 2023 financial year.
← 2. It entrusted the Federal Department of Justice and Police with developing pragmatic options for amending the legislation.
← 3. It aims to enhance transparency and align with international sustainability reporting standards.
← 4. The Code aims to bolster long-term value creation, transparency, and sustainable corporate governance practices, and is aligned with international frameworks.
This work is published under the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Member countries of the OECD.
This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.
The full book is available in English: OECD (2025), OECD Corporate Governance Factbook 2025, OECD Publishing, Paris, https://doi.org/10.1787/f4f43735-en.
© OECD 2025
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