BERN (Reuters) -The Swiss National Bank does not have the right tools or the mandate to tackle climate changes or threats to biodiversity, Chairman Martin Schlegel told shareholders at the central bank’s annual general meeting on Friday.
“I understand this topic is of great importance for our society and all humanity and it is of personal concern for me,” Schlegel said.
“But our foreign currency reserves are there to serve our mandate. Climate goals or biodiversity are not part of our mandate,” he added, referring to the SNB’s main goal of ensuring price stability.
(Reporting by John Revill, Editing by Miranda Murray)
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