FN London

Financial News

News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

UBS to gain $8bn fossil fuel exposure from Credit Suisse deal as activists warn of ‘climate nightmare’

Historic tie-up between Swiss rivals ‘could add up to a climate nightmare’, Reclaim Finance warns

By Kristen McGachey
A report published by Reclaim Finance estimates UBS will take on an additional $8bn in exposure to fossil fuel developers by buying Credit Suisse
A report published by Reclaim Finance estimates UBS will take on an additional $8bn in exposure to fossil fuel developers by buying Credit Suisse Photo: Ina Fassbender/Getty Images

Swiss regulators are being urged to tighten rules on fossil fuels after Credit Suisse and UBS's tie-up, as analysts warn the deal is a “climate nightmare”.

The shotgun wedding between the Swiss rivals is set to create the world’s fourth largest bank with $5tn in assets under management.

WSJ Logo
GQG Launches Buyback After Stock Tumbles on Adani Probe

GQG Launches Buyback After Stock Tumbles on Adani Probe

Trump Considers Warsh Serving as Treasury Secretary—and Then Fed Chair

Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade