Over 145,000 signatures for a sustainable Swiss financial centre
Keystone-SDA
A Swiss popular initiative demanding a more sustainable financial centre has been submitted with over 145,000 signatures.
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The banks and other financial actors must take more responsibility for climate and nature protection, according to an alliance of politicians, business people and NGOs behind the initiative.
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Swiss finance sector told to ‘green’ up its act
The popular initiative “for a sustainable and forward-looking Swiss financial centre” calls for binding rules to be applied to financial activities that present climate and environmental risks.
The measures taken to date, voluntary solutions and self-regulation are not enough, according to the initiators.
In a press release, they point out that the Swiss financial centre is responsible for a volume of CO2 emissions far in excess of total national emissions. This undermines the country’s efforts to protect the climate.
Financial flows therefore need to be redirected so as to accelerate the transition to a sustainable economy and strengthen Switzerland’s position in the long term.
Such rules already exist in other financial centres.
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Swiss sustainable finance: world leader or wishful thinking?
Translated from French by AI/mga
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