Swiss National Bank getting backlash from NGOs over fracking investments

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="snb swiss national bank office" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office.jpg 730w, https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office-150×90.jpg 150w, https://www.leaprate.com/wp-content/uploads/2017/07/snb-swiss-national-bank-office-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>Fracking uses high-pressure liquids to extract subterranean fossil fuels. According to a recently published Yale paper, this process generates copious amounts of wastewater, emits greenhouse gases, and causes air and noise pollution. Consequently, it disturbs natural habitats and migratory patterns, while causing land degradation.</p>
<p>______________________________________________________________________</p>
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener noreferrer"><em>Don’t miss out the latest news, subscribe to LeapRate’s newsletter</em></a></p>
<p>_______________________________________________________________________</p>
<p>Reportedly, SNB declined to comment when approached with these allegations and merely stated its investment policy adheres to accepted financial norms. Bloomberg indicated that fracking triggered an upsurge in the oil and gas industry in the United States, but the practice has been widely criticised worldwide, especially in parts of Europe, which includes Switzerland.</p>
<p>Additionally, the stated report claims that 14 of the 26 constituencies in Switzerland oppose fracking, making up an estimated 69% of the population. Plus, according to the report, these opposers own about 27% of the SNB shares.</p>
<p>This coalition feels that as fracking is rejected by such a high percentage and considering it destabilises land, SNB should change its investment channels in this regard. Bloomberg quoted the report as saying:</p>
<blockquote><p>Due to the broadly supported rejection of fracking by cantonal governments and the population, it can be considered a norm and value of Switzerland, which the SNB should also respect.</p></blockquote>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/financial-services/swiss-national-bank-getting-backlash-from-ngos-over-fracking-investments/">Swiss National Bank getting backlash from NGOs over fracking investments</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>