National Council rejects stricter climate rules for the National Bank
Published: Wednesday, Apr 17th 2024, 18:50
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The Swiss National Bank (SNB) does not have to comply with any new rules on climate and environmental risks in the conduct of its monetary policy. On Wednesday, the National Council rejected five identical parliamentary initiatives with this request.
With 111 votes to 72, the large chamber said no to the initiatives from the SP, Center, EPP, Greens and Green Liberals. The deals are therefore off the table.
Last autumn, the National Council's Economic Affairs Committee (WAK-N), in its old composition, had only rejected the proposal with a casting vote by the then President Leo Müller (Center/LU). In the Council, a clear majority of the SVP, FDP and Center voted against it.
Opponents of stricter climate rules were of the opinion that the current focus of monetary policy on price stability was working well. The SNB had already taken several steps in recent years to take climate risks into account as part of its mandate.
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