The initiative demands that the national bank or pension funds should no longer be allowed to invest in producers of war material.
The Swiss National Bank, foundations and pension funds (AHV / IV / EO) should no longer be allowed to invest in war business. This is what the initiative “For a ban on the financing of war material producers” of the Group for a Switzerland without an Army (GSoA) and the Young Greens demands. They are supported by the Greens, SP, EPP and around 30 organizations.
War material producers are therefore companies that generate more than 5 percent of their annual turnover with the manufacture of war material. Loans, loans, gifts or the purchase of shares would be prohibited. Existing financing would have to be disposed of within four years.
For those in favor, the initiative is a step towards a more peaceful world. Investing in wars and conflicts contradicts the humanitarian tradition of neutral Switzerland. Many financial companies are already making ethical investments today.
The Federal Council and the bourgeois majority in parliament reject the initiative. For them, this would have negative economic consequences for the National Bank, foundations and pension funds. The financial sector as well as the machine, electrical and metal industries could also be affected. The Swiss location would become less attractive.
—-
Published: November 15, 2020, 55 minutes ago–