No bank is in line with environmental objectives

None of the 15 major Swiss retail banks are meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.

On average, the 15 largest retail banks obtain only 2.2 points out of a maximum of 5 in the WWF environmental ranking, published on Tuesday. They are therefore found in the “average” category.

A single French-speaking establishment

The only French-speaking establishment evaluated, the Banque cantonale vaudoise (BCV) only comes in tenth position. Zurich Cantonal Bank achieves the best result, while St. Gallen Cantonal Bank (SGKB) and Valiant bring up the rear.

BCV offers companies sustainable credit on advantageous conditions, welcomes WWF. However, there is potential for improvement in the area of ​​financial investments, particularly in the pension sector, where the establishment does not offer any sustainability-related products.

Insufficient progress

Although some progress has been made since the previous 2021 ranking, no bank manages to climb into the “pioneer” (4 points) or “visionary” (5 points) categories. The Swiss Alternative Bank (BAS), analyzed separately, is the only one to be classified in the “pioneer” category.

Overall, the greatest progress has been made in “credit and financing” activities. But it is also in this area that the results are always the least good. This is explained by the fact that the majority of credits are used for the purchase or construction of real estatewhich are the source of significant carbon emissions. The building sector represents nearly 40% of energy consumption in Switzerland, a quarter of greenhouse gas emissions and is responsible for the fragmentation of the territory, recalls the WWF.

Most banks have also made progress in risk management. The consequences of the climate and environmental crises present enormous financial risks which banking establishments are increasingly taking into account, but not yet sufficiently.

An important lever

The situation is also developing positively in the area of ​​investment advice, where banks offer, for example, sustainability-related funds or support measures for the energy renovation of buildings. However, these efforts are not yet sufficient to systematically direct investments towards sustainable businesses and buildings, judges the WWF.

Generally speaking, banks’ efforts focus almost exclusively on the climate sector, but largely ignore the effects on biodiversity, deforestation, or pollution of the environment and waterways.

Through the granting of credits and financial investments, the banking sector contributes decisively to the direction of the economy. It thus has an important lever for the protection of the climate and naturerecalls the WWF.

The environmental organization’s assessment is based on a total of 32 criteria. The ranking is primarily concerned with the evaluation of the main activity of banks, their business management, as well as the evaluation of the resulting ecological impact. (sda/ats)

After Sion, Vevey and Neuchâtel, Payot will close its Nature & Découvertes stores in Geneva Balexert and Friborg in January, impacting around ten employees.

After Sion, Vevey and Neuchâtel at the start of the year, the Payot group will close two additional sites of its Nature & Découvertes brand next January in Geneva Balexert and Fribourg. Around ten employees should be affected.