A new non-partisan initiative aims to enshrine an ecological and sustainable orientation for the Swiss financial center in the constitution, targeting major banks like UBS for their fossil fuel investments. The initiative proposes restrictions on financing new fossil energy projects and calls for a supervisory authority, dubbed "eco-finma," to ensure compliance and prevent greenwashing. With the recent collapse of Credit Suisse, proponents see this as an opportune moment for reform in banking regulation.
A new non-partisan initiative aims to enshrine an ecological and sustainable orientation for the Swiss financial center in the constitution, targeting banks like UBS for their fossil fuel investments. The initiative proposes restrictions on financing new fossil energy projects and calls for a supervisory authority, "eco-finma," to ensure compliance and prevent greenwashing. With the recent collapse of Credit Suisse, proponents see this as an opportune moment for reform in banking regulation.
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