Swiss National Bank criticised for alleged $9bn fracking investment

The Swiss National Bank (SNB) has been slammed for what a coalition of environmental NGOs says is its $9 billion (CHF7.9 billion) investment in 69 oil and gas fracking companies.

Fracking accounts for over half of SNB’s roughly $16 billion invested in fossil fuel extraction, according to the report published by SNB Coalition and Climate Alliance Switzerland.

A spokesperson for the SNB declined to comment. An SNB spokesperson told Le Matin Dimanche which wrote about the report earlier on Sunday that its investment policy is in line with “fundamental norms largely accepted in Switzerland” and that it’s constantly reviewing its portfolio. ...