Capital Flows, Financials, Sector Focus

Swiss banks finding loopholes to fund fossil fuel activity, says report

UBS’s Zurich headquarters. A report says the financial institution is set to emerge as a ‘fossil fuel financing giant’ (Photo by Fabrice Coffrini/AFP via Getty Images)

Study deems Swiss financial companies ‘complicit’ in funding fossil fuel growth, with UBS likely to become a European giant in the area following its acquisition of Credit Suisse.

The Swiss finance industry has “not got the message” from the Paris Climate Agreement, a new report has found, while the recent ...

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