For a world without coal
Adrià Budry Carbó and Robert Bachmann, 7. November 2022
The coal industry
- It should immediately cease extraction of the most polluting forms of coal, such as lignite.
- Companies active in the extraction and trade of coal should present credible measures that are verifiable by independent parties, to achieve a complete exit from coal by 2030.
The Federal Council and Parliament
- They should take action to end the trade with coal, the most polluting of fossile fuels, by 2030.
- Switzerland should integrate, in the meantime, the indirect CO2 emissions generated by coal traders registered in the country in its climate objectives and policies.
- They should introduce into Swiss law a requirement for transparency around contracts and payments to governments for coal trade, and for the rest of the commodities trade. The origin of commodities should be traceable.
- Switzerland should set up an oversight body for the commodities sector that has the power to control companies, and sanction those breaking the law.
The world of finance
- Financial institutions should stop loans to companies active in the coal sector that have not implemented a credible plan to exit coal by 2030, accompanied by appropriate measures that are verifiable by independent parties.
- No new coal-fired power plants should be financed.
- The Swiss National Bank should cease investments in all companies that produce or trade in coal.
- Cantonal banks should commit to no longer providing funds to companies active in the coal sector, whether through transaction financing or corporate loans.