Swiss perspectives in 10 languages

WWF urges national bank to act on nature-related risk

Swiss mountains
Collecting butterflies in Urnenboden, central Switzerland. The WWF says the national bank and financial watchdog should act in accordance with Switzerland’s environmental goals. ¬© Keystone / Alexandra Wey

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.

“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.

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.

Bearded vultures released into the wild in Switzerland

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.

Read more: Now for some good news about biodiversity

Popular Stories

Most Discussed

News

No Swiss bank in phase with environmental objectives

More

Swiss banks failing environment, says WWF

This content was published on None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.

Read more: Swiss banks failing environment, says WWF
UNRWA provides emergency assistance to just over one million Palestine refugees, or about 75 per cent of all Palestine refugees in Gaza, who lack the financial means to cover their basic food.

More

Lazzarini: no alternative to UNRWA in Gaza

This content was published on The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.

Read more: Lazzarini: no alternative to UNRWA in Gaza

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

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.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR