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.
Should raw milk sales be banned or should consumers decide?
Swiss food regulations do not allow raw milk to be sold for direct consumption. However, a loophole allows 400 raw milk vending machines to do just that.
Is reforming the Swiss pension system still possible, and if so, how?
Solutions still need to be found to meet the challenge of an ageing population and to improve the pensions of low-paid workers, the majority of whom are women.
This content was published on
Czech President Petr Pavel and his wife, Eva Pavlova, arrived in Switzerland on Tuesday at the start of a two-day state visit.
Study shows proliferation of non-native plants is driver of insect invasions
This content was published on
A global study has revealed that insect invasions are being driven by the proliferation of non-native plants. This can can massively disrupt ecological processes, often leading to serious economic impacts.
Swiss set record for world’s longest hyperloop test
This content was published on
Swiss scientists have established a record for the longest-ever hyperloop journey at a facility in Lausanne, Switzerland.
This content was published on
The Swiss army wants to purchase new German armoured howitzers to replace its existing artillery system which has been in operation for over 50 years.
Poll suggests Donald Trump has many fans in Switzerland
This content was published on
Around a quarter of Swiss citizens would vote for Donald Trump if they had the chance, according to a recent poll. This percentage is higher than in many other European countries.
Swiss court rejects special assistance for student with disabilities
This content was published on
The Swiss Federal Court has rejected an application for special assistance from a student with disabilities at the federal technology institute ETH Zurich.
Police arrest 15 drug dealers in Verbier in southern Switzerland
This content was published on
Swiss and French police have arrested 15 suspected drug dealers operating in the mountain resort of Verbier in southern Switzerland.
New European space tech centre in Switzerland launches its first project
This content was published on
The European Space Deep-Tech Innovation Centre (ESDI), launched in collaboration with the Paul Scherrer Institute (PSI), is to be located in the immediate vicinity of the PSI in northern Switzerland.
Swiss Federal Railways launches campaign for safety on public transport
This content was published on
The Swiss Federal Railways is launching a campaign for greater respect and safety on public transport, with posters to go up in stations and on trains starting next week.
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.