Greenpeace: Swiss pension funds complicit in deforestation
A Greenpeace Switzerland report claims that 5% of Swiss pensions are invested in companies that contribute to deforestation.
This content was published on
2 minutes
Keystone-SDA/rts/jdp
The report, published on Thursday, estimates that Swiss pension funds contribute around CHF60 billion ($61 billion) to companies that are heavily involved in the destruction of tropical forests in South America, Africa and Asia.
This is about 5% of total funds managed by Swiss pension funds, which Greenpeace says is a “conservative estimate” given the analysis only assessed equity investments. It didn’t include the “billions” granted to companies in the form of loans.
More
Why little Switzerland matters for the survival of tropical forests
While there is this deep-rooted tradition of respect of the environment in Switzerland it does not necessarily extend beyond the country’s borders.
The study is based on the Forest500 ranking, which analyses 350 companies for their commitment and policies on ending deforestation. According to Forest500, two thirds of tropical deforestation is driven by the production of a handful of commodities including palm oil, soy, timber, paper and pulp, beef, and leather.
“Instead of using the occupational pensions of the insured to really prepare for the future, the pension funds participate in the destruction of forests and therefore in the destruction of the living conditions of all of us,” said Peter Haberstich, a finance expert at Greenpeace Switzerland.
There are around 1,500 pension funds in Switzerland managing about CHF1.2 trillion, which makes them some of the most important investors in the country.
Greenpeace Switzerland is urging pension funds to use their shareholder rights to change company policies. It calls on the funds to develop more concrete strategy on how they plan to contribute to goals in the Paris Climate Agreement by mid-2023.
In a response to Swiss public television RTS, Yves Marie Hostettler, head of the Swiss pension fund umbrella organisation, assured that progressExternal link had been made to invest more responsibly over the last few years.
Young undocumented migrants gain easier access to vocational training
This content was published on
Rejected asylum-seekers and young undocumented migrants in Switzerland will have easier access to basic vocational training from June 1.
Migration: Swiss government wants to shorten reunification period for families
This content was published on
Family members of people temporarily admitted to Switzerland should in future be able to join them after two years instead of three.
This content was published on
2023 was a record year for the Rhaetian Railway in several respects. Never before has the narrow-gauge railway in Graubünden, eastern Switzerland, transported so many passengers and cars.
Swiss CFOs much more optimistic despite global uncertainty
This content was published on
The main concerns of business leaders in Switzerland are geopolitical uncertainty and the important trading partners Germany and China.
Record organ donation in Switzerland despite high rejection rates
This content was published on
More organ donations were recorded in Switzerland in 2023 than ever before. This was despite a high rejection rate of 58% by surviving relatives.
This content was published on
Seven years after the death of record-breaking Swiss mountain climber Ueli Steck, his estate is going to the Alpine Museum of Switzerland in Bern.
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
Switzerland’s forests of the future
This content was published on
Which trees will be able to guarantee the functions of the forest 100 years from now? Switzerland is looking for answers by planting exotic species.
Major investor coalition presses Credit Suisse on climate risks
This content was published on
A group of 11 institutional investors has filed a shareholder resolution calling on Credit Suisse to cut its lending to fossil fuel assets.
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.