Visible problems: the (melting) Rhone glacier in southern Switzerland. © Keystone / Urs Flueeler
The Swiss financial sector has made some progress in 'greening' its investment portfolios in recent years, but not enough, an government-backed analysis has found.
This content was published on November 24, 2022 - 12:01 November 24, 2022 - 12:01 Keystone-SDA/dos
setor financeiro suíço faz progressos limitados no clima
Some 133 financial firms participated in the pactaexternal link climate compatibility test spurred by the Federal Office for the Environment (FOEN).
In a press releaseexternal link , FOEN said some steps had been taken to reach the objectives of the Paris Agreement on Climate Change: notably, a third of firms surveyed said they had adopted a climate strategy and outlined concrete goals to reach by 2050.
Investments in fossil fuels – a source of major criticism (and activism ) targeting the Swiss financial sector – also decreased compared to 2020, the test found, while“exposure to renewables and electric vehicles” increased. One-third of real estate portfolios analysed were heated with renewable energy, compared to a quarter in 2020.
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