The closure of the Axpo Beznau nuclear power plant, the world's oldest operating facility at 64, has reignited debates on Switzerland's energy future. Politicians are pushing for rapid expansion of renewable energy, while concerns about potential power gaps and reliance on fossil fuels grow. The government is considering measures to accelerate renewable projects amid discussions on the fate of the remaining nuclear plants.
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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