WASHINGTON — Today, 17 international non-governmental organizations sent a letter to the Swiss export credit agency SERV. The letter demanded that Switzerland adhere to its climate commitments and immediately cease issuing export credit insurance for gas-fired power plants. The letter also called on Switzerland, as the headquarters of numerous international organizations, to be aware of the value of international cooperation, especially in the area of climate change.
In 2021, Switzerland, along with 34 other countries, committed to the Clean Energy Transition Partnership to no longer support new international fossil fuel projects from 2023 onwards. Most signatories are complying with this agreement – but not Switzerland. Since 2023, SERV has pledged its provisional or definitive support for 10 gas-fired power plants, including projects in highly repressive countries such as Saudi Arabia and Turkmenistan. These power plants are estimated to emit 20 million tons of CO₂ equivalents per year – about half of Switzerland’s total national emissions.
“Switzerland’s breaking of its commitments under the Clean Energy Transition Partnership is exacerbating the climate crisis and polluting local communities,” said Frank Vanaerschot, Director at Counter Balance. “Supporting international gas projects damages the credibility of Switzerland as a climate leader and delays the necessary transition of the world economy to renewable energy and a just transition.”
“Given the collapse in climate leadership from the U.S., it is even more critical for countries like Switzerland to not only keep their commitments, but also step up as strong leaders in phasing out international fossil fuel finance,” said Kate DeAngelis, Deputy Director of Economic Policy at Friends of the Earth U.S.
A separate letter from 23 Swiss groups calls on the Swiss Federal Council, the Swiss State Secretariat for Economic Affairs (SECO), and SERV to:
- Immediately cease promoting fossil fuel projects and instead expand the promotion of renewable energy projects;
- Achieve net-zero emissions by 2040 for all of SERV’s emissions, including those from its projects financed abroad, in accordance with the Climate and Innovation Act;
- Grant the public access to all relevant information held by SERV, in accordance with the Freedom of Information Act;
- Add two members with expertise in foreign, environmental, and climate policy to the SERV Board of Directors.
The Swiss NGOs presented the two letters to the SERV Board of Directors on Wednesday, which was meeting in Zurich. Campax and the Collectif BreakFree Suisse staged a protest in which dozens of people displayed clocks running late to highlight the fact that Swiss climate policy is lagging behind the times.
Contacts for further questions:
Photos of the protest in front of the SERV headquarters will be available here from approximately 10:30 a.m. CET on February 25.