Published on May 15, 2024 at 6:06 p.m.
Switzerland would have to invest a total of 387 billion francs to achieve its carbon neutrality objective in 2050, according to a study by Swissbanking and the Boston Consulting Group dating from 2021. Of these 12.9 billion per year, that is to say say around 2% of the country’s GDP, 8.6 billion will have to be provided by the banking system, notably through loans. “Green” credits supporting the ecological transition, which are the subject of a study by the Swiss Sustainable Finance association and the Zurich University of Applied Sciences (ZHAW), published on Wednesday.
What is sustainable credit, according to Swiss banks? To begin with, it is financing that is not granted to certain sectors, which banks choose not to finance. A large majority of banks participating in this study practice exclusions towards manufacturers of controversial weapons or the extraction of coal, oil and gas.
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