Swiss Responsible Business Initiative. Result of Sunday’s referendum

On Sunday the Swiss voted in a referendum on a proposal for extra territorial liability for Swiss companies liable for human rights violations and environmental damage committed by their subsidiaries. The proposal gained 50.7% of popular vote but only gained 8.5 of the required 12 regional majorities across Switzerland’s cantons. A majority of both the popular vote and cantonal vote is needed for an initiative to pass and so the proposal was rejected. The Swiss Parliament will now adopt the Government’s counter-proposal which is limited to reporting and issue-specific due diligence without liability rules.

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