Switzerland Today

Dear Swiss Abroad

A solar project is on hold, a business giant is turning its back on Geneva, a bank is reporting unexpectedly high profits, and the Centre Party’s all-male duel is sparking debate – Switzerland is once again providing plenty to talk about today.

A little balm for the soul: 2024 was a year of generosity – Swiss Solidarity collected CHF34 million ($37 million) for people in need. And in Lausanne this week, young talents are dancing towards their dreams.

Best regards from Bern

Keystone

Centre Party’s all-male Federal Council ticket sparks criticism

Not a woman in sight, and only German speakers – the Centre Party’s selection for the upcoming Federal Council election is drawing criticism from the left.

On Monday, the Centre Party presented its two-man ticket to succeed Viola Amherd: Markus Ritter (from canton St Gallen, member of the House of Representatives and President of the Swiss Farmers’ Union) and Martin Pfister (Health Director of canton Zug) are to stand for election by the parliament on March 12. 

The Social Democratic Party has criticised the ticket as unbalanced and too right-leaning. “With Mr. Ritter and Mr. Pfister, they are presenting a ticket with two men from the right fringe of their party,” said Social Democratic Party parliamentary group leader Samira Marti to news portal Watson. Green Party parliamentary group leader Aline Trede also expressed disappointment at the absence of a female candidate, despite welcoming the two-man option.

Political observers are now speculating: could parliament be tempted to introduce a “wild card candidate” – a nominee not officially put forward by the Centre Party?

In recent weeks, several centrist politicians have declined to run for the Federal Council, often citing personal reasons, despite the prestige of the position. A similar trend is emerging in the private sector: according to Le Temps, more executives are prioritising work-life balance, making it increasingly difficult to find candidates for top positions.

• Le TempsExternal link describes the situation in the private sector. (Paywall and in French)
• The Tages-AnzeigerExternal link investigates the question: Is there a threat of wild card candidacies? (in German)

Keystone / Michael Buholzer

UBS reports strong 2024 results despite Credit Suisse takeover

UBS has released its first annual results since fully absorbing Credit Suisse – and they have exceeded market expectations. The result: in 2024, the major Swiss bank made a profit of $5.1 billion (around CHF4.6 billion Swiss). Although the profit in the previous year, 2023, was still a good $27 billion (around CHF24 billion), this was largely due to takeover of Credit Suisse. 

UBS CEO Sergio Ermotti is pleased with the results: “We have achieved all the key milestones for 2024 and significantly reduced integration risks while maintaining a solid capital position.”

Shareholders will also be pleased. Dividends are set to rise by 29% to $0.90 per share. For the current year, UBS is holding out the prospect of further share buybacks – on a large scale: these are expected to amount to around one billion in the first half of the year and then two billion in the second half. The integration of Credit Suisse is on track and should be completed in 2026, the bank writes in its press release. 

• The full interview with UBS CEO Sergio Ermotti on Swiss public television, SRFExternal link (in German)

ZVG/Thun Solar AG

Solar Express project delayed due to legal challenges

Almost 17,000 solar panels were set to be installed across eight hectares above the Morgeten Alp in Oberwil in the Simmental valley. The project was expected to generate 12 gigawatt-hours of electricity annually – enough for 3,000 households. But now, the Solar Express project is on hold.

The Bernese administrative court has put the brakes: it has denied jurisdiction for a complaint from environmental organisations and forwarded the dossier to the cantonal authorities. The Bern canton department for building and transport must deal with the complaint, the court ruled. The judgement published on Monday was first reported by the Bernese Tamedia newspapers.

In May 2024, the facility was the first Solar Express project in Switzerland to receive a building permit from the responsible cantonal governor’s office. The Foundation for Landscape Conservation, the Swiss Alpine Club SAC and Mountain appealed the decision, arguing that it did not follow legal procedures, writes Swiss public television, SRF. 

However, the cantonal introductory ordinance to the Energy Act explicitly stipulates the administrative court – and thus a judicial authority outside the administration – as the appeal body for large-scale photovoltaic installations. This should have shortened the authorisation procedures for alpine solar installations.

The administrative court found that the law does not justify bypassing the usual two-stage appeals process, meaning the Bern department for building and transport must now handle the complaint.

• The report from Swiss public television, SRFExternal link (in German)

Keystone / Salvatore Di Nolfi

Geneva loses a corporate giant as SGS moves to Zug

A major blow for Geneva: Société Générale de Surveillance (SGS), a multinational corporation with nearly 100,000 employees worldwide, is planning to relocate its headquarters to canton Zug.

SGS has been based in Geneva since 1915, but the Geneva cantonal government confirmed on Monday that the company intends to move. Economic Director Delphine Bachmann expressed disappointment, telling Keystone-SDA that the canton had been negotiating with SGS for months – but to no avail.

The company employs around 150 people in Geneva, and their jobs are reportedly not at risk. However, the financial impact on the canton remains unclear. With a turnover of CHF6.6 billion ($7.26 billion) in 2023, SGS is a significant player in Geneva’s economy.

SGS cited high building costs and better transport links to Zurich Airport as key reasons for the move. A final decision will be made at the company’s Annual General Meeting at the end of March.

• The article by Swiss public broadcaster, RTSExternal link (in French)

Swiss Solidarity

Swiss Solidarity collected CHF34.4 million ($37 million) in 2024. This was achieved with the help of four donation appeals in collaboration with Swiss Broadcasting Corporation (SBC). 

The total of CHF34.4 million received in 2024 was distributed among others among those affected by the devastating storm in Switzerland in the summer (CHF13 million), the civilian population in the Middle East (CHF5.9 million), children in Switzerland and around the world affected by violence and abuse (CHF5 million) and the humanitarian crisis in Sudan (CHF2.7 million).

Last year, the foundation spent a total of CHF63 million. Almost CHF30 million was channelled into projects for medical care, housing repairs and the protection of children in Ukraine, writes Swiss Solidarity in its press release. An amount of CHF11.5 million was also channelled into projects in Turkey and Syria, which were hit by a severe earthquake. 

• The full article in BlickExternal link (in German)

Keystone / Valentin Flauraud

Picture of the day

Graceful contemporary dance in French-speaking Switzerland: Swiss dancer Yve-Noelle Bollinger (pictured in the centre of the image above) performed at the 53rd Prix de Lausanne on Monday, February 3. Founded in 1973, the Prix de Lausanne remains one of the world’s most prestigious dance competitions for young dancers aged 15 to 18.

This year, 85 participants from 23 countries are competing in the six-day event. The most talented dancers will receive scholarships, allowing them to study at top international dance schools or join professional companies.

Translated from German using DeepL/amva