Activists Urge Swiss Bank to Rethink Environmental Investments

Environmentalists protested at the Swiss National Bank's AGM, calling for divestment from firms causing ecological harm in regions like the Amazon. They've identified such companies in a UCL study and demand stricter investment criteria. The SNB, holding significant equity, faces criticism for insufficient action on environmental impact.

On Friday, environmentalists gathered at the Swiss National Bank's annual general meeting to demand divestment from companies deemed detrimental to the environment, particularly in regions such as the Amazon rainforest and Brazil's Cerrado savannah.

The demonstration, held in Bern, spotlighted the bank's investments in 'Environmental Tipping Point' companies, identified in a University College London study as ones that induce irreversible ecological harm. Campaigners displayed a banner stating "Deforestation is not a Swiss value" and placards mimicking SNB Chairman Martin Schlegel.

The activists call for stringent exclusion criteria and insist the SNB leverage its shareholder status to steer corporate behavior. Activist Asti Roesle stressed the SNB's obligation to account for environmental risks in monetary policies, highlighting Switzerland's vulnerability to climate change effects such as glacier melting and landslides.

(With inputs from agencies.)