An NGO coalition has found that the SNB invests billions into oil and gas fracking companies despite half of Swiss cantons opposing fracking.
A recent report found that the Swiss National Bank has been accepting collateral assets that pose a risk to climate change, contrary to its own rules and a recent Swiss climate law.
“First small step” towards climate responsibility as climate bill passed to cut carbon emissions and reach net zero by 2050. …
Campaigners and shareholders used the Swiss National Bank’s general meeting to demand and end to investments in fossil fuel companies.
Policies with “major loopholes and weaknesses” allow firms to “continue providing financial services that are essential to the development of new coal, oil and gas projects”.
Advocates from Campax protested in front of the Swiss National Bank to demand an end to its investments in fossil fuel companies.
New legislation will require Swiss banks, insurers and large public companies to publish climate-related financial disclosures and transition plans by 2024.
The Swiss Federal Council has adopted a report saying the SNB has a limited role in supporting environmental action, drawing criticism from civil society groups.
The Monetary Authority of Singapore has announced a plan to decarbonise its US$300bn reserve fund, amid increasing global interest in the climate impact of central banks’ forex portfolios.
The Swiss National Bank has come under further pressure to take climate action after one of its largest shareholders passed a motion calling on the bank to align its policies with the Paris Agreement. …
Climate activists protested outside the Swiss National Bank’s AGM last week, highlighting the central bank’s substantial funding of fossil fuels and calling for climate-related disclosures and transition plans.
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