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 told AFP 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.

"We aim to provide at least 300 billion Swiss francs ($330 billion, 280 billion euros) in sustainable financing over the next 10 years."

Related Links

Tweet

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only

Powering Iraqi homes one switch at a time
Baghdad (AFP) July 28, 2021
Sweat drips from Aqeel Hassan as he tinkers with a labyrinth of wires that connect 270 homes in Baghdad's sprawling Sadr City. It is a thankless job, but a crucial one amid another scorching heatwave. His workplace is a humble shack right in front of his home, which comprises a bed, pigeons in a pen to keep him company and more than 200 colour-coded switches, running to a loud, humming diesel generator. Hassan is the neighbourhood's generator handyman, whose job involves installing and repairin ... read more