WWF urges national bank to act on nature-related risk
As Switzerland faces deforestation, monocultures and overfishing, the environmental organisation WWF Switzerland is calling on the Swiss National Bank (SNB) and the financial watchdog FINMA to take action.
This content was published on
2 minutes
Keystone-SDA/ts
“A growing number of central banks have begun to investigate biodiversity risks and take them into account in their supervisory activities. Now the SNB and FINMA must follow suit,” WWF Switzerland said in a statementExternal link on Wednesday.
A new WWF reportExternal link, Why central bankers need to take action on biodiversity risk, warns that current practices of only integrating climate-related risks and impacts in existing mandates of central banks and financial supervisors, and not including risks from nature loss, fall short in ensuring a sustainable financial system.
More
The Swiss Alps are beautiful, but are they biodiverse?
The demands of a growing human population often clash with the needs of nature, a fact that regularly sparks political debate in Switzerland.
Based on the conclusions of the report, WWF Switzerland has three recommendations for the two institutions. First, they should act from the principle that environmental degradation and loss of biodiversity, like global warming, lead to financial risks.
Second, preventive measures should be taken to reduce the risks associated with the loss of biodiversity. The monitoring of risks in the individual economic sectors and in monetary policy would offer starting points for this. Central banks should also consider these risks in their own areas of activity and support research on these topics.
And finally, the SNB and FINMA should act in accordance with Switzerland’s environmental goals and work for a common international financial regulation that integrates and takes into account environmental aspects, WWF said.
More
Now for some good news about biodiversity
This content was published on
New research is providing essential insights and reasons to be hopeful for the biodiversity of our fragile planet. The latest Letter from the Alps.
New gel developed in Zurich renders alcohol harmless
This content was published on
A newly developed gel composed of whey proteins breaks down alcohol in the body and could reduce its harmful and intoxicating effects in humans.
Pro-Palestine protests extend to Basel and Fribourg universities
This content was published on
Demonstrators called for an academic boycott of all Israeli institutions and disassociation with Chaim Weizmann, the first Israeli president.
This content was published on
In many cases, China's use of AI undermines the national security of the US and its allies, according to a US government representative.
Swiss Hells Angels trial alleges rape and money laundering
This content was published on
An allegedly high-ranking member of the Hells Angels is accused of money laundering totalling millions and rape, among other serious crimes.
SWISS is airline ‘group flagship’ says Lufthansa boss
This content was published on
Despite challenges, Lufthansa and its most important subsidiary, Swiss International Airlines, promise increased satisfaction and continued growth.
Swiss rediscover communist zeal after 84-year hiatus
This content was published on
Over 300 participants founded the Revolutionary Communist Party (RKP) at its congress in Burgdorf in canton Bern at the weekend.
This content was published on
Nemo brought the Eurovision Song Contest to Switzerland with a victory on Saturday evening in Malmö, Sweden. It is Switzerland's third victory in the history of the music contest.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Study warns of ‘harmful subsidies’ for Swiss biodiversity
This content was published on
Over 160 subsidies – mainly in the fields of transport, farming and energy – are damaging biodiversity in Switzerland, a new study concludes.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.