Swiss National Bank, image modified. By Baikonur - Own work, CC BY-SA 3.0, link

99.2% of Swiss National Bank Shareholders Just Rejected a Green Investment Push

Essay by Eric Worrall

“… SNB Chairman Thomas Jordan said the central bank took climate change seriously but should not be distracted from its primary goal of ensuring price stability. …”

Swiss National Bank rejects demands of climate change activists

April 28, 202311:21 PM GMT+10

Around a hundred campaigners gathered outside the SNB’s annual general meeting in Bern on Friday, triggering tight security at the event.

But a move to reprimand the SNB’s bank council over the investments failed, with only 0.8% of shareholders supporting the move.

SNB Chairman Thomas Jordan said the central bank took climate change seriously but should not be distracted from its primary goal of ensuring price stability.

Read more: https://www.reuters.com/business/sustainable-business/swiss-national-bank-rejects-demands-climate-change-activists-2023-04-28/

I’m pleasantly surprised by this apparent outbreak of common sense. Despite Switzerland’s 300 year track record of financial prudence, the Swiss caught the climate bug in a big way. In 2022 the Swiss Government seriously considered big fines and up to 3 years jail for turning up your thermostat.

Perhaps they are simply waiting for the right climate investment opportunities to appear, green investments which make financial sense even without generous government handouts or artificial green energy purchase mandates.

They could be in for a long wait.

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strativarius
May 1, 2023 10:17 am

“”They could be in for a long wait.””

They’ll be around forever. Just in different numbers

Bryan A
Reply to  strativarius
May 1, 2023 3:04 pm

This is the essence of green investments and the then required Greensplaining necessary to capitulate to the Big Green Minority

KevinM
May 1, 2023 10:22 am

Need context –
What is usual result of vote on any item?
What is usual result of vote on reprimand?
What percent of people who could have voted actually voted?
What percent of people who could have voted knew they could have voted?

Last edited 1 month ago by KevinM
Joseph Zorzin
Reply to  KevinM
May 1, 2023 11:29 am

I think we can presume the shareholders knew they could have voted if they didn’t.

John Endicott
Reply to  KevinM
May 4, 2023 8:42 am

KevinM, clearly you do not own any stock. As someone who holds stock in several different companies I can tell you that whenever one of them is to have a vote, the shareholders are informed with plenty of advanced notice of when the vote is to take place (and what items are on the agenda) and given the opportunity to cast their vote by proxy. If there was a vote and someone didn’t vote, it wasn’t because they didn’t know there was a vote. It was because they didn’t care to vote for whatever reason even if that reason boiled down to “can’t be arsed”.

HotScot
May 1, 2023 11:08 am

It was only a matter of time.

Understandably, but now almost laughably, all at WUWT and innumerable other sceptical sites believed it would be about the science.

Whilst our science evangelism was, and remains, justified, who would have thought ten years ago that imposing ESG (which no one had really heard of then) on financial institutions would prove a major part of the undoing of the whole climate scam.

I think every sceptic who has debated or argued about the subject, be that online or personally, owes themselves a (small) pat on the back.

We are not there yet but, for example, as the imposition of hybrid only vehicles approaches in the UK in 2030 that will be about as far as it gets. BEV only vehicle sales planned for 2035 will never materialise as none of it makes financial sense.

Notably, this is all occurring whilst the ‘greenest’ ever POTUS in history is pushing his Inflation Reduction Act, a thinly disguised rush for globalism via the climate route, not that Joe gets any of it.

Little by little common sense is being restored and whilst it took 50 years to reach the ‘tipping point’ for climate hysteria, I’m fairly confident that it will only take fewer than 10 years to have it relegated to the back pages of the NYT and the Guardian.

And something that bowled me over as I type this was a national, commercial radio station in the UK having a Republican commentator featured, announcing the positive aspects of Trump’s visit to Scotland.

That has never happened before. Like him or love him, that’s a BIG deal here that will upset a lot of people.

Last edited 1 month ago by HotScot
Joseph Zorzin
Reply to  HotScot
May 1, 2023 11:34 am

“globalism via the climate route”
more like gold-mine-ism via the wind/solar industrial complex route

“I’m fairly confident that it will only take fewer than 10 years to have it relegated to the back pages of the NYT and the Guardian.”

It ain’t gonna go away here in Woke-achusetts- the fanaticism is so severe. It’ll be the last place to give up the climate cult.

David H
Reply to  Joseph Zorzin
May 1, 2023 12:01 pm

For whats it worth, they did have the Salem Witch Trials….maybe we should consider it a good omen.

John Endicott
Reply to  David H
May 4, 2023 8:47 am

Yeah, they’re feeling guilty over all the carbon emissions they released via burning witches 😉 *

* yeah, I know, they didn’t actually burn witches in Salem.

Retired_Engineer_Jim
Reply to  HotScot
May 1, 2023 12:22 pm

HotScot,

I fear that arguing “The Science” was never going to overturn CAGW / CCC, because the majority of people, and especially the policy-makers, don’t understand science and are willing to believe the scientific “authorities”. To kill the entire CAGW / CCC “problem”, we need to concentrate on the total implausibility of the proposed renewable energy solution.

Point out the ridiculous costs. Point out that tall buildings aren’t going to be rewired for all-electric living, nor will they be able to be heated /cooled by heat pumps. Point out the millions of hectares required for the battery backup installations (and their propensity to ignite, and generate toxic fumes). Point out that there isn’t enough lithium, copper or cobalt to completely electrify everything, and that the PRC controls much of the supply.

While most folks just don’t understand science, they do understand the cost of electricity. We just have to make sure that CAGW / CCC crowd doesn’t get away with blaming it all on the greedy utility companies. And they do understand the cost of cars. When they understand that the cost of almost everything ratchets up with the cost of energy, and that RE is expensive, the CAGW / CCC story will, eventually, die.

Rich Davis
Reply to  Retired_Engineer_Jim
May 1, 2023 1:40 pm

Pointing out the costs could be an effective approach except when your entire political class professes the Green Faith and is prepared to drain the national fisc to prevent at least 51% of the electorate being impacted. Those who live in government housing and receive every form of dole are insulated from the impacts of the insanity.

Two wolves and a sheep vote on what to eat for dinner.

Editor
Reply to  Retired_Engineer_Jim
May 1, 2023 4:17 pm

Necessary but not sufficient.
Arguing the science has to be done, because the scare campaign fraudulently claimed to be based on science. But yes, the scam has to be addressed politically economically and everythingelseally too.

HotScot
Reply to  Retired_Engineer_Jim
May 2, 2023 12:28 am

Been saying much the same for years Jim. No point in talking science to someone who doesn’t understand the language.

Perhaps 10% of the world has a higher science education. To the rest the subject is a complete mystery.

AndyHce
Reply to  HotScot
May 2, 2023 1:27 pm

Besides, so many have been thoroughly conditioned against even thinking about questing the Party.

Rich Davis
Reply to  HotScot
May 2, 2023 5:04 pm

για αυτούς όλα είναι ελληνικά

AndyHce
Reply to  Retired_Engineer_Jim
May 2, 2023 1:23 pm

point out, point out, point out.
Have you missed the news that those all all just Big Oil lies?
Don’t expect such lies to have any more impact on the gods of the mortal world than any other information.

SteveG
Reply to  HotScot
May 2, 2023 4:28 am

And something that bowled me over as I type this was a national, commercial radio station in the UK having a Republican commentator featured, announcing the positive aspects of Trump’s visit to Scotland.

Well I bet that’s got better coverage than the upcoming King’s coronation mate! — 🙂 🙂

ResourceGuy
May 1, 2023 1:15 pm

Tax haven bankers aren’t much interested in anything else beyond secrecy and maybe losing money for large clients.

Saudi silence after the Credit Suisse crash – SWI swissinfo.ch

sskinner
May 1, 2023 1:18 pm

Perhaps climate change is not an issue?

mleskovarsocalrrcom
May 1, 2023 1:28 pm

People are willing to do anything to save the planet as long as it doesn’t involve changes to their daily ritual or risking their future. Everyone wants to go to heaven but they don’t want to die.

Marty
May 1, 2023 1:40 pm

Although the propaganda is overwhelming people are gradually beginning to realize that there is no global warming. Last night I watched a documentary on PBS about a coral reef in the Caribbean. I think they must have mentioned global warming about five times in the first fifteen or twenty minutes. Very heavy handed propaganda. And yet where I live in Chicago the weatherman this morning said that the temperature today is twenty degrees F below the long term average.

I know weather and climate are different. But after forty years of supposed global warming how come I can’t see any change in the weather?

Rick C
May 1, 2023 3:23 pm

Surely they could not have missed what happened to Credit Suisse just a couple weeks ago. CS was promoting ESG while up to its ears in corruption, money laundering and corporate espionage. Turns out that’s not “sustainable”. Go woke, get broke.

abolition man
May 1, 2023 6:34 pm

We climate realists need to become more strident in our denunciations of the CAGW Hoax!
The greatest climate danger that our beautiful little planet faces is CO2 STARVATION!! While we shouldn’t needlessly waste fossil fuels where nuclear and other reliable sources are available; I, for one, will always ask any greentard voicing their fanatic dogma when Earth has had lower temperatures or CO2 levels than those of the current Ice Age.
Besides slaughtering birds, bats and whales in job lots, the only thing the Green Raw Deal will ever accomplish is the destruction of the economic freedoms that have lifted millions out of poverty recently! It’s just the usual Marxist drivel; freedom and prosperity MUST be stamped out in the name of equity and inclusion!

HotScot
Reply to  abolition man
May 2, 2023 1:28 am

We are a mere 250ppm from planetary extinction.

John the Econ
May 1, 2023 8:32 pm

You see, under modern Progressivism, it’s always assumed that someone else will get the tab for the Progressive political agenda. When people realize that it’s really their money at stake, they immediately lose interest.

glxtom
May 1, 2023 8:56 pm

SNB management and shareholders should contact Janet Yellen ASAP.

SteveG
May 2, 2023 4:30 am

Future headline..

Economics and Engineering kill off Net-Zero. Can’t be done say “experts”..

2hotel9
May 2, 2023 5:36 am

And now they have to drive the climatards out of their government and academia.

gezza1298
May 2, 2023 6:26 am

There have been climate bullshit motions on the agenda of both the recent BP and Shell AGMs. The Mail is making a big thing that 15% of BP shareholders voted to follow the Paris climate nonsense. I wasn’t one of them of course but why is 15% noteworthy? It is not a majority, not half, not a third, not even a quarter or as much as a fifth of voters.

AGW is Not Science
Reply to  gezza1298
May 2, 2023 8:23 am

Translate it thusly: 85% of BP shareholders voted against following the Paris “climate deal.”

1saveenergy
Reply to  gezza1298
May 2, 2023 10:33 am

“but why is 15% noteworthy?”

Because 15% = one 6.66 th of the voters; 666 is the mark of the beast,
meaning that the 15% are the devils disciples… yikes !!!

Last edited 1 month ago by 1saveenergy
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