Alternative Bank Switzerland wins Swiss Ethics Award

The Swiss Ethics Award was presented for the 9th time by the Swiss Excellence Forum on September 23, 2020. The award honors projects that set new ethical standards in the field of business. Alternative Bank Switzerland prevailed with its project "Climate-Active ABS" against the co-nominated Arbofino AG, Forma Futura Invest AG, Reckhaus AG and Vatorex AG. The socially and ecologically oriented bank was founded in 1990 and is today supported by over 7500 shareholders.

Money flows influence CO2 emissions

ABS's winning project targets climate protection and demonstrates the significant role of financial flows. The operation of a bank causes only few direct CO2 emissions. The money flows managed by banks, on the other hand, have a massive impact.

Climate protection in the banking business

The ABS has addressed this issue and shows how climate protection can be applied and implemented in the banking business. In its investment and credit guidelines, it has defined exclusion and eligibility criteria for areas in which it does not want to invest. For example, companies that contribute significantly to climate change are excluded. Industries that are harmful to the climate are excluded. Securities from countries that disregard climate protection and do not commit to international climate targets are not considered.

Alternative Bank Switzerland ensures transparency

On the other hand, business areas that enable a positive impact on society and the environment are promoted. In 2016, ABS was the first Swiss bank to publish the carbon footprint of its investments and transparently show how it contributes to a climate-friendly economy through its investment business. For this extensive commitment to climate protection, it was honored by the jury with the Swiss Ethics Award.

Source: News Current
More information: ABS