SNB Slammed for Reported $9 Billion Investment in Fracking

NGO says the SNB has invested in 69 fracking companies
SNB says portfolio is in line with accepted Swiss norms

The Swiss National Bank in Bern. — The Swiss National Bank in Bern.
Photographer: Stefan Wermuth/Bloomberg

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By Hugo Miller and Bastian Benrath-Wright

November 19, 2023 at 12:58 PM UTC

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The Swiss National Bank has been slammed for what a coalition of environmental NGOs says is its $9 billion investment in 69 oil and gas fracking companies.

Fracking accounts for over half of SNB’s roughly $16 billion invested in fossil fuel extraction, according to the report published by SNB Coalition and Climate Alliance Switzerland.