ZURICH (Germany): Climate activists block an entrance of the Union Bank of Scotland on Monday to protest big banks’ financing of fossil fuel projects that damage the environment.—Reuters
ZURICH (Germany): Climate activists block an entrance of the Union Bank of Scotland on Monday to protest big banks’ financing of fossil fuel projects that damage the environment.—Reuters

ZURICH: Climate activists briefly blocked the entrances to the UBS and Credit Suisse headquarters in Zurich on Monday in protest against fossil fuel funding by Switzerland’s two biggest banks.

Environmentalist organisations including Extinction Rebellion and Climate Strike staged the demonstration in which groups of around 30 to 40 people sat in front of the entrances. Environmental activists have set up a week-long climate camp in Switzerland’s biggest city.

“The oceans are rising and so are we,” chanted the activists gathered under the banner Rise Up for Change. At the UBS headquarters, activists also blocked access with bicycles. Environmental organisations are calling for an immediate end to new investments and loans in fossil fuels.

They are targeting banks in particular, but also insurance companies, pension funds and asset managers as well as the Swiss central bank, which has a large portfolio of investments.

“We are here because Switzerland has a huge responsibility for carbon dioxide emissions,” said Alba, a 19-year-old student from Zurich opposed to the sums invested “in projects that are harmful to the environment”.

Police removed the protesters more than two hours after the demonstration began in the morning.

A UBS spokeswoman said the bank is “committed to reducing greenhouse gas emissions across our business to net zero by 2050, with science-based interim targets for 2025, 2030 and 2035.” Credit Suisse said it was working to reduce the carbon footprint of its operations and helping clients to transition to low-carbon business models. “Credit Suisse is committed to climate protection,” the bank said.

Published in Dawn, August 3rd, 2021

Opinion

A decade of change & stagnation
Updated 20 Sep 2021

A decade of change & stagnation

Over a decade, three more women out of 100 aged between 19 and 39 have acquired college degrees, compared to only two more men.
All about life
Updated 20 Sep 2021

All about life

There is no shortage of issues on which the Single National Curriculum has stirred controversy.
‘Honourable men’
20 Sep 2021

‘Honourable men’

Is it ambition to support our athletes only after they bring us glory?
Concerns of proxy wars
Updated 19 Sep 2021

Concerns of proxy wars

A lobby in the US favours a plan for proxy warfare so that America can sustain its global influence.

Editorial

20 Sep 2021

Banking for women

AS the old adage goes, the proof of the pudding is in the eating. How far the new State Bank initiative —...
Off the red list
Updated 20 Sep 2021

Off the red list

There are aspects of coronavirus management, especially by developed nations towards those less so, that smack of discrimination.
20 Sep 2021

Exciting frontiers

HISTORY was made on Wednesday at the Kennedy Space Centre in Cape Canaveral. It was not the launch of the first, or...
Talking to the Taliban
Updated 19 Sep 2021

Talking to the Taliban

PRIME Minister Imran Khan has announced that he has started a dialogue with the Taliban for the formation of a...
New Zealand’s departure
Updated 19 Sep 2021

New Zealand’s departure

THERE was chaos and despair when New Zealand decided to call off their tour of Pakistan barely minutes before the...
19 Sep 2021

Crucial polio campaign

THE national vaccination campaign that kicked off in Khyber Pakhtunkhwa on Friday is being described by experts as...