climate activists demonstrated yesterday Morning in front of the doors of the big banks in Zurich and Basel, with blockages. “We want to draw attention to the fact that the Swiss financial centre contributes significantly to the global climate disaster,” says Frida Kohlmann of Collective Climate Justice.

The collective consists of various environmental organizations and individuals. Your critique: With the financing of climate-damaging and environmentally destructive companies would have caused Credit Suisse and UBS alone last year, around twice as many emissions as Switzerland caused in the domestic market.

UBS is way better than CS

The activists rely on a study of Greenpeace Switzerland. Thereafter, the UBS and the CS from 2015 to 2017, have provided a total of 12.3 billion US dollars for the 47 global companies particularly dirty, extreme fossil fuels to make is usable.

The two big banks do not deny the allegations. Striking: The UBS comes with the activists in a better way than Credit Suisse.

According to the environmental organization, UBS has reduced the harmful financing during the period in question in the case of Oil, coal, and coal-fired power generation – the Total is $ 4.5 billion.

Credit Suisse is, however, funded according to the evaluation with a total of 7.8 billion dollars, not only more harmful emissions. At the same time, the CS had increased the funding for the coal production.

Greenpeace is doing the survey annually for the past ten years. That she’s pushing now on the big resonance has to do with the pressure of investors on listed companies in terms of climate risks. This has increased the last years. It is not only social – and environmental-oriented pension Fund, but also private investors as the world’s largest asset Manager, Blackrock new life into the fingers of investments, which are exposed to high climate risks.

transparency is relatively

The international financial industry has responded to the pressure, two years ago, with a Task Force on climate reporting (TCFD). Their voluntary recommendations to increase transparency on climate risks, consequences, UBS and Credit Suisse.

The Swiss major banks, however, have different ideas of transparency. UBS in its balance sheet the share of CO2-related assets. He was by the end of 2018 at $ 2.7 billion, or 1.2 percent, compared with 2.8 percent in the previous year.

These harmful CO2-related investments were offset by 2018 at UBS, climate-friendly and sustainable investments from 87.5 billion US dollars (in 2017: 74 billion dollars), such as UBS spokesman Igor Moser says.

Credit Suisse, however, no information on their CO2-related investments. No wonder requests about the investment Foundation Ethos, that the CS strengthen mandatory climate risk analysis and no company is more with CO2-investment Fund. The climate demands come not only from the road.