Swiss central bank draws criticism over carbon-linked investments [Reuters]
Chevron Corporation (CVX)
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Source: Reuters
on Tuesday showed its investments were linked to 12 million metric tons of carbon emissions last year. The report was the first time the SNB published a figure for the environmental impact of the companies in which it holds shares. The stakes, including in oil majors Chevron Corp (CVX.N) , opens new tab and Exxon Mobil (XOM.N) , opens new tab , are part of the bank's foreign currency reserves, which stood at 655 billion Swiss francs ($738.28 billion) at the end of 2023. Last year was the planet's hottest year on record and temperatures remained high at the start of this year. In Switzerland, the impact was felt as glaciers retreated and many ski resorts have been left without snow after a mild winter. "The figure of 12 million tons of CO2 equivalents is shocking and far too high," said Asti Roesle of the Climate Alliance Switzerland, which represents over 140 non-governmental groups. The real scale of the emissions could be three or four times higher once indirect emission
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