For the first time, a bank wins the 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.
For the first time, a bank has received the Swiss Ethics Award. Alternative Bank Switzerland (ABS) demonstrates that banking can be successful with a high level of ethical commitment. The socially and ecologically oriented bank was founded in 1990 and is today supported by over 7500 shareholders. The winning project of ABS aims at climate protection and shows the important 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.
Transparency
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 are not committed to international climate targets are not considered. On the other hand, business areas that have a positive impact on society and the environment are promoted.
In 2016, ABS became the first Swiss bank to publish the CO1 footprint of its investments and transparently demonstrate 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.
