Credit Suisse sued a group of climate activists after a protest organized at a branch in Lausanne. The local court has now ruled on the dispute between bank and activists.
A court in Renens outside Lausanne on Monday freed twelve activists sued by Credit Suisse, according to the organization behind the climate strikes in Switzerland. The court recognized the dangers posed by the climate crisis and decided that the protest therefore was justified, the group said.
The activists had organized the protest at a Lausanne branch of Credit Suisse in November 2018, accusing the company of investing millions of francs in projects that harm the climate. The bank sued the group for trespassing.
First Ruling Overturned
In a first ruling in spring of 2019, the activists were convicted and fined. Similar trials are likely to follow later in 2020 as protests against UBS and Credit Suisse in Zurich and Basel have taken place in July 2019. Police arrested some of the activists.
The verdict indicates that the general public's appreciation of investments by banks is becoming more skeptical, and several political moves are pending in Bern that take issue with the industry’s handling of investments in what is generally considered as harmful to the environment.
Roger Federer's Role
Last weekend, tennis champion Roger Federer issued a statement saying that he recognized the issues raised by Greta Thunberg and her generation, adding that he will seek the dialogue with his sponsors. He didn’t mention the sponsors by name, but it was widely accepted that Credit Suisse as his personal sponsor was one of the companies meant.
The activists now freed had walked into the branch of Credit Suisse wearing tennis clothes, in a reference to the sponsoring of the tennis star by Switzerland's second-largest bank.
