Switzerland: Companies on the Swiss Market Index (SMI) reportedly made little progress in climate protection in 2025, according to a data analysis by news agency AWP. Overall, the operational (Scope 1 & 2) CO2 emissions of SMI companies fell by approximately 3% in 2025. However, greenhouse gas emissions from the upstream and downstream value chain (Scope 3), which typically account for the largest share of the CO2 footprint and include emissions from suppliers, rose by almost 6%.
With 55Mt of operational CO2 emissions globally, cement producer Holcim was by far the largest emitter on the SMI, followed by Amrize (15.6Mt), which split off from Holcim in 2025, and food giant Nestlé (3Mt).
In 2025, Holcim reduced its operational greenhouse gas emissions by 1.8%, partly through reduced use of clinker and alternative fuels (AF). However, emissions along the supply chain increased by around 6%, mainly due to ‘higher emissions from subsidiaries and purchased clinker and cement.’
Amrize reduced its own emissions by around 4%. The group does not yet report any Scope 3 emissions but will do so for 2026.
