99.2% of Swiss National Bank Shareholders Just Rejected a Green Investment Push

From Watts Up With That?

Essay by Eric Worrall

Swiss National Bank, image modified. By Baikonur – Own work, CC BY-SA 3.0, link

“… SNB Chairman Thomas Jordan said the central bank took climate change seriously but should not be distracted from its primary goal of ensuring price stability. …”

Swiss National Bank rejects demands of climate change activists

April 28, 202311:21 PM GMT+10

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Around a hundred campaigners gathered outside the SNB’s annual general meeting in Bern on Friday, triggering tight security at the event.

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But a move to reprimand the SNB’s bank council over the investments failed, with only 0.8% of shareholders supporting the move.

SNB Chairman Thomas Jordan said the central bank took climate change seriously but should not be distracted from its primary goal of ensuring price stability.

…Read more: https://www.reuters.com/business/sustainable-business/swiss-national-bank-rejects-demands-climate-change-activists-2023-04-28/

A Swiss National Bank logo is pictured on the SNB building in Bern, Switzerland May 20, 2020. REUTERS/Arnd Wiegmann

I’m pleasantly surprised by this apparent outbreak of common sense. Despite Switzerland’s 300 year track record of financial prudence, the Swiss caught the climate bug in a big way. In 2022 the Swiss Government seriously considered big fines and up to 3 years jail for turning up your thermostat.

Perhaps they are simply waiting for the right climate investment opportunities to appear, green investments which make financial sense even without generous government handouts or artificial green energy purchase mandates.

They could be in for a long wait.