Those who expected a big plan for sustainable finance like the one launched last year in Europe will be disappointed. The Federal Council reiterated on Friday its ambition to transform Switzerland into a world center for responsible finance, and sketched 13 lines of thought to achieve this. But without announcing concrete measures, regret circles in favor of ethical finance. The financial sector, on the contrary, welcomes federal non-interventionism.
By signing the Paris Climate Agreement of 2015, Switzerland committed to keep global warming below 2 degrees by 2050, and ideally 1.5 degrees. The Confederation must thus set up public programs in this direction and account for their effects. As financial services are the subject of particular attention in the Paris Agreement, Berne must push its financial center to contribute to limiting emissions. How? ‘Or’ What? First by observing.
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