Why the Swiss Voted down ESG-Style Carbon Laws
On June 13th, the revised CO2 law failed at the Swiss ballot box. Judging from the rather confused debate following the rejection of the bill, one can hardly say that the shock in the politically competent circles had a beneficial effect in favor of more realism. Many commentators were surprised that the electorate put the brakes on climate policy, and many seemed puzzled about how to interpret the will of the people as expressed in the vote. In the referendum of May 2017, the revised Energy Act had been approved by a clear majority, but four years later a tight “no” to the revised CO2 Law followed.
