Joint Letter to the Swiss export credit agency, SERV

Today, together with 16 other international non-governmental organisations, we sent a letter calling on the Swiss government to stop violating its commitment to end international public finance for fossil fuels.

The letter demands that Switzerland adheres to its climate commitments and immediately cease issuing export credit insurance for gas-fired power plants via its export credit agency SERV. The letter also called on Switzerland, as the headquarters of numerous international organisations, 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 (CETP) to no longer support new international fossil fuel projects from 2023 onwards. The majority of signatories are complying with this agreement – but not Switzerland. Since 2023, SERV has pledged its provisional or definitive support for ten 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.

Joining Swiss non-governmental organisations in their call, we call on the Swiss government to immediately end all export credit support for fossil fuel projects, including gas power plants, in line with its commitment under the CETP.