SWISS NATIONAL BANK
The Swiss National Bank Must Take Responsibility!
The climate and biodiversity crises are escalating—and the Swiss National Bank (SNB) continues to fuel them.
Through its monetary policy, investment strategy, and role in financial regulation, the SNB channels billions into industries that destroy ecosystems and accelerate global heating. By clinging to outdated patterns and ignoring scientific warnings, it delays the shift we urgently need and upholds a system that turns our planet into a wasteland.
We demand that the SNB take responsibility and act in the public interest—as its mandate requires. It’s time to abandon tunnel vision, face the facts, and stop investing in destruction. The SNB must become part of the solution and support a just and ecological transformation of our economy.
This is not a question of feasibility, but of political will. Our demands outline the first necessary steps:
1. The SNB must present a plan to achieve Switzerland’s climate and biodiversity goals.
2. The SNB must divest from all harmful and fossil investments.
3. The SNB must introduce ecological regulations for all financial actors.
4. The SNB must act transparently and involve civil society and experts in its decisions.
5. Political interventions must reinforce these demands.
EXAMPLES
1. Chevron: One of the World’s Largest Polluters
Between 1965 and 2017, Chevron was the second-largest emitter of greenhouse gases globally. The company plans to increase its fracking gas production sixfold by 2050. Although Chevron has been found guilty of ecocide, it has refused to pay the $9.5 billion in damages ordered by the courts. Since 2015, the SNB’s share in Chevron has more than doubled.
2. Duke Energy: SNB’s Money in Coal and Greenwashing
Duke Energy is the largest coal power operator in the U.S. and is currently building more gas power plants than any other American energy company. The company’s pipelines pollute air and water, and it engages in greenwashing while lobbying against renewable energy. Since 2015, the SNB has doubled its investment in Duke.
3. ExxonMobil: Funding Climate Denial and Environmental Destruction
ExxonMobil is the world’s leading fracking company and among the top four for tar sands, offshore drilling, and Arctic extraction. The company plans to massively expand these activities. Exxon continues to finance politicians and lobby groups to deny climate change and block climate policies. Since September 2020, the SNB has increased its investment in ExxonMobil by over one-third, now exceeding $900 million.
4. TotalEnergies: Displacement and Exploitation
Total is currently developing four megaprojects in Africa, including three in deep waters. One of the worst cases is the Cabo Delgado gas project in Mozambique, which has led to massive greenhouse gas emissions, forced displacements, and human rights violations. Due to a lack of transparency, SNB investments in many European companies, including Total, remain unclear, though estimates suggest significant holdings.
SNB Coalition
The SNB coalition brings together multiple organizations and collectives. The SNB coalition has conducted joint projects and actions over the past years, leveraging strong synergies among its members. A key focus is maintaining a strong presence at the annual general meeting (AGM) of the Swiss National Bank, where we collectively advocate for divestment and regulation. Additionally, the coalition plays a crucial role in facilitating the exchange of research and knowledge, strengthening our collective impact.
PAST ACTIONS
Open letter handed over by parliamentarians
Bern – Today, an open letter and petition signed by 50 parliamentarians and over 5,000 citizens was formally handed over to the board of the Swiss National Bank (SNB) by parliamentarians Delphine Klopfenstein and Christian Dandrès. This letter addresses a critical...
Réaction aux incidents survenus lors de l’assemblée générale: 29 députés suisses critiquent la BNS dans une lettre ouverte
Genève, 06.05.24 - 29 élu·es Suisses conseiller·es Nationaux, cantonaux et aux États, issu·es de 9 Cantons, et de 5 partis politiques différents déplorent la discrimination dont deux personnalités Mapuche et Argentines ont fait l'objet à l'occasion de l'Assemblée...
Assemblée générale de la BNS
Berne, 26.04.23 - Lors de l'assemblée générale (AG) de la Banque nationale suisse (BNS) d'aujourd'hui, des actionnaires et des activistes exigent de la BNS une politique monétaire et de placement respectueuse du climat et de l'environnement. Dans le cadre d'une action...
SNB AGM 2023
Despite investing billions in the fossil fuel industry, the SNB faced major resistance at its 2023 AGM, held at the Kursaal in Bern. A coalition of organizations, critical shareholders, and frontline activists demanded that the SNB divest from TotalEnergies, which is...