Climate activists staged a demonstration outside the Swiss National Bank’s shareholder meeting, condemning the bank’s investments in environmentally damaging ventures such as fracking and fossil fuel extraction.
The protest coincided with a recent ruling by a European human rights court criticizing Bern’s inadequate response to climate change. With Switzerland experiencing record high temperatures and diminishing snow levels in the Alps, around 50 demonstrators gathered in Bern, urging the SNB to either divest from such companies or pressure them to alter their practices.
Holding banners declaring “Stop Fracking Investments End Fossil Finance” and “No Financial Stability Without a Stable Climate,” activists emphasized the urgent need for a more eco-conscious investment policy. Despite the SNB’s substantial investments in oil giants like Chevron, Shell, and Exxon Mobil, amounting to 700 billion Swiss francs, its sustainability report revealed a significant carbon footprint.
While the SNB remained silent on the protests and its investment approach, campaigners criticized its reluctance to leverage its shares for environmental advocacy, stressing the urgency of the climate crisis.