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(Bloomberg) Actively pushing for a green transformation of the economy could undermine the effectiveness of the Swiss National Bank’s monetary policy, Governing Board Member Andrea Maechler said. While the SNB takes climate change very seriously and is buying green bonds as part of its reserve management, officials need to remain within the bounds of their mandate, Maechler said in a video interview for the University of St. Gallen. “It could really bring conflict of interest,” she said. “When we use monetary policy tools for that purpose, they may be helpful to move in that direction, but they’re detrimental to the effectiveness of monetary policy.” With more than 900 billion francs ($979 billion) worth of foreign exchange reserves, climate activists have long urged the SNB to use its financial heft to combat global warming. Although Switzerland’s central bank has decided to stop investing in companies whose principal business is coal mining, it is treading more cautio

Andrea maechlerUniversity of stEuropean central bankSwiss national bankGoverning board member andrea maechlerBusiness general