• About Us
  • Who Are We
  • Work With Us
Sunday, July 3, 2022
No Result
View All Result
NEWSLETTER
The Globe Post
39 °f
New York
44 ° Fri
46 ° Sat
40 ° Sun
41 ° Mon
No Result
View All Result
The Globe Post
No Result
View All Result
Home Environment

Greenpeace Accuses Swiss Banks of ‘Greenwashing’

Staff Writer by Staff Writer
09/01/21
in Environment
Greenpeace

File photo: Markus Spiske/Unsplash

Share on FacebookShare on Twitter

Greenpeace on Wednesday accused Swiss banks of practising “greenwashing” after an investigation found that they often failed to promote sustainable investments and their products on offer weren’t very climate-friendly. 

The NGO’s Swiss branch sent people into 19 Swiss financial institutions, including giants UBS and Credit Suisse, who posed as potential investors to assess the quality of advice from banks on sustainable financial investments.

The investigation found bank advisers only asked prospective investors whether sustainability was important for them in half of the interviews.

When prospective investors asked for investments that are climate-friendly and compatible with the Paris Agreement they encountered some bank advisers unfamiliar with the 2015 pact on limiting global warming.

As for the so-called climate-friendly funds that were put forward, Greenpeace said they were barely more so than conventional investments after close analysis.

“None of the financial investment products put forward as climate-friendly could certify that only investments that comply with the climate objectives of the Paris Agreement are included in the portfolio,” Greenpeace said in its report.

It called problematic that for almost 60 percent of the funds analysed — because they were recommended as climate friendly — the sustainability criteria was only applied to a part of the portfolio.

“These results are further proof that the Swiss financial center is practising greenwashing with what it calls ‘sustainable finance’,” it said. 

The investigation comes just months after Greenpeace screened more than 50 Swiss and Luxembourg funds and found that funds labeled as “sustainable”, “fail to invest more capital in a sustainable economy than conventional funds.”

ShareTweet
Staff Writer

Staff Writer

AFP with The Globe Post

Related Posts

No Content Available
Next Post
ida, hurricane, storm

Eight Dead in New York City as Ida Brings Flash Flooding

cricket

'A Cultural Thing': Cricket Defines British-Indian Identity

Recommended

Google logo

Google to Pay $90 Mn in Settlement With App Developers

July 1, 2022
Mexico murdered journalists

Journalist Murdered in Mexico, 12th This Year

June 29, 2022
Spain migrants

Spain Prosecutor Opens Probe Into Melilla Migrant Deaths

June 28, 2022
Afghan refugees

Pakistani Migrants in Afghanistan Caught in Quake No-Man’s Land

June 27, 2022
Joe Biden climate summit

Biden Calls Clean Energy Matter of National Security in Face of Russia War

June 17, 2022
climate change

Developing Countries Left ‘Disappointed’ at Climate Talks

June 16, 2022

Opinion

US President Donald Trump

Owning the Words and the Libs

June 16, 2022
Officers in Uvalde, Texas, stand outside Robb Elementary School near a makeshift memorial for the shooting victims

Child Sacrifice Makes a Comeback

June 3, 2022
A Lebanese election official stands at a polling station

New Group Threatens Lebanese Elections… and Potentially Middle East Peace

May 18, 2022
A man holding a gun

Safely Back in USA, Land of Guns and Burgers

May 2, 2022
China Muslim Uyghurs

Unfair Politicization, Corruption, and the Death of Modern Olympism

April 23, 2022
Ukraine war

The Ukrainian Refugee Crisis and the Hierarchies of Western Compassion

April 20, 2022
Facebook Twitter

Newsletter

Do you like our reporting?
SUBSCRIBE

About Us

The Globe Post

The Globe Post is part of Globe Post Media, a U.S. digital news organization that is publishing the world's best targeted news sites.

submit oped

© 2018 The Globe Post

No Result
View All Result
  • National
  • World
  • Business
  • Interviews
  • Lifestyle
  • Democracy at Risk
    • Media Freedom
  • Opinion
    • Editorials
    • Columns
    • Book Reviews
    • Stage
  • Submit Op-ed

© 2018 The Globe Post