Switzerland must invest CHF 12.9bn annually to reach net zero goal

Solar panels installed at a mountain hut in Lenzerheide. Author: SteFou!. License: Creative Commons, Attribution 2.0 Generic

August 27 (Renewables Now) - Switzerland must introduce more sustainable practices and invest a total of CHF 387.2 billion (USD 412.5bn/EUR 350.5bn), or CHF 12.9 billion annually in the next three decades, in order to achieve climate neutrality by 2050, showed a study conducted by the Swiss Bankers Association and Boston Consulting Group.

The necessary annual investment is equal to roughly 2% of Switzerland's gross domestic product (GDP) and will be enough to take measures to cut carbon dioxide emissions in the ten industries that are the biggest polluters in the country such as light road traffic, buildings and heavy road traffic.

Bank loans and the local capital market will be able to provide about 91% of the required investments and the rest could be financed through other sources such as private-public partnerships.

The study urges companies and private individuals in Switzerland to boost investments in modernising buildings, more energy-efficient production methods or upgrading vehicle fleets. This process should be backed by banks which should offer suitable services and products.

The full study is available here: https://bit.ly/3sUIoc6.

(CHF 1 = USD 1.091/EUR 0.927)

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