The Swiss central bank could be required to pull its $800 billion balance sheet ...
“This is a climate emergency and we need to take action as soon as possible,” said Adele Goumaz Thorens, a Green politician who proposes this to the upper house early next year. “The SNB has invested so much money it is incredible and could really be an actor for change.”
The SNB declined to comment on the politicians’ proposals. It shuns shares in companies which cause severe environmental damage but has resisted using its investment clout to promote green causes because of the risk of conflicts of interest or politicizing monetary policy.The new chief of the European Central Bank has described tackling climate change as “mission critical,” although its narrow mandate to fight inflation limits what it can do.
The Swiss campaign must pass both houses of parliament. Passing the upper house which has a centre-right majority will also be tough, the campaigners said. The SP is part of the four-party coalition government, which the Greens hope to join.
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