Swiss National Bank Faces Pressure to Address Environmental Concerns Amid Protests

Environmental activists protested at the Swiss National Bank's annual meeting, urging divestment from companies that harm the environment. They highlighted the SNB's investment in 'Environmental Tipping Point' firms and demanded more stringent exclusion criteria. The bank argued its legal mandate focuses on price stability, not climate initiatives.

In a significant protest at the Swiss National Bank's annual shareholder meeting in Bern, environmental activists demanded the bank divest from companies contributing to ecological degradation. The demonstrators singled out SNB's investments in firms identified as 'Environmental Tipping Point' companies in a recent UCL study, claiming these entities cause irreversible environmental harm.

Campaigners boldly presented their message with banners stating "Deforestation is not a Swiss value," pushing for the central bank to implement stricter exclusion criteria and influence corporate behavior through its shareholder position. SNB Chairman Martin Schlegel responded by affirming the bank's adherence to stringent exclusion policies, although noting its limited mandate focused on price stability rather than climate or biodiversity issues.

Critics argue that despite these policies, SNB's investment in environmentally harmful companies persists, putting into question its commitment to environmental responsibility. Activists like Asti Roesle and Guillaume Durin emphasize the importance of considering environmental risks, with calls to expand SNB's role in safeguarding ecological and future generational interests.

(With inputs from agencies.)