Climate warning
Image of Swiss Banking - Schweizerische Bankiervereinigung

Swiss Banking - Schweizerische Bankiervereinigung

Climate warning

Swiss banks want to avert greenwashing regulations

Swiss banks want to avert greenwashing regulations Swiss banks want to avert greenwashing regulations The banking association relies on regulating itself instead of laws. But the Swiss government fears for the credibility of the financial center. Regulators around the world are intensifying their fight against greenwashing in the financial industry. While the EU, Great Britain and the USA are tightening the reins, positions in Switzerland are clashing on the question of how best to prevent label fraud in green investments. The Swiss banks, on the one hand, want to monitor themselves. Self-regulation - an approach that no other well-known financial center pursues - can be implemented more quickly, according to the industry association. “This is window dressing,” says Stephan Kellenberger from WWF Switzerland. “We cannot prevent greenwashing incidents with self-regulation.” The Swiss government has the final say on this, and is expected to announce its decision in the coming weeks. https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/nachhaltigkeit-schweizer-banken-wollen-greenwashing-regulierung-abwenden/29458532.html

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18 more agrees trigger contact with the recipient

  • Peter Kamau

    38 w

    Finance institutions need not engage in this cat and mouse games of failing to adhere to the laws of their lands in regard to climate change

    3
    • Kevin

      38 w

      Banks must be made wary of the climatic laws and follow them to the letter

      3
      • Munene Mugambi

        38 w

        This would mean they could just decide what to call greenwashing or not. Unacceptable

        4
        • mercy nduta

          38 w

          Banks should join us in addressing climate issues.

          2
          • Gorffly mokua

            38 w

            It's concerning to see Swiss banks resisting greenwashing regulations, lets hope they will reconsider this!

            4
            • Grace Njeri

              38 w

              Climate change is a really significant factor that banks need to address.

              6
              • Princess

                38 w

                This is very concerning 😟.

                4
                • johnte ndeto

                  38 w

                  money institutions should champion climate change

                  14
                  • rosebellendiritu

                    38 w

                    @johnte_ndeto also they should stop funding fossils in fishy policies

                    3
                  • Thomas Tienso

                    38 w

                    Swiss banks, not known for asking questions were the money comes from, to perform self regulation ? I would say no.

                    13
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