Initiative launched for tougher environmental rules for Swiss financial industry
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Initiative launched for tougher environmental rules for Swiss financial industry
An alliance of political parties and business and environmental groups has launched a people's initiative calling for stricter environmental rules for the Swiss finance industry. Campaigners say the federal government should introduce new legislation to better control asset managers, insurers and pension funds.
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The popular initiative entitled “For a sustainable and future-oriented Swiss financial centre (financial centre initiative)” was published in the Federal Gazette on Tuesday. Campaigners have until May 26, 2026 to collect 100,000 signatures to try to force a nationwide vote on the issue.
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The initiative committee includes current and former parliamentarians from the left-wing Social Democratic Party, the Centre Party, the centre-right Radical-Liberal Party, the left-wing Green Party, the centrist Liberal Green Party and the Protestant Party.
They are seeking to add a new article on the sustainable financial centre to the Federal Constitution.
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According to the article, the federal government would have to work towards an ecologically sustainable Swiss financial centre in the future and take measures to align the flow of funds accordingly. Supervision with sanctioning powers would be provided to enforce these requirements.
Adapted from French by DeepL/sb
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