The Swiss central bank could be required to pull its $800 billion balance sheet out of investments in fossil fuel companies in a move by one of the world’s biggest reserve banks to tackle climate change.
Swiss lawmakers are preparing a campaign that would make targeting climate change one of the policy objectives of the Swiss National Bank, alongside the traditional monetary targets of ensuring price stability and fostering economic growth.
The drive will begin this month with a motion in parliament’s lower house, two lawmakers behind the campaign told Reuters. The push is coming from the centre-left Social Democrats (SP) and the Greens, which achieved record results in October’s elections. [Continue reading…]