The Swiss National Bank sold its entire stake in oil producer Chevron Corp. because it now considers investments in the stock to breach its portfolio guidelines, according to a person familiar with the matter. The central bank hasn’t moved away from drilling companies in general, but specifically dropped Chevron because of environmental concerns that don’t apply to other rivals, the person said. They declined to be identified discussing confidential matters. “The SNB has not adjusted its investment policy,” but stands by its existing guidelines, according to an e-mailed statement. It declined to comment on specific investments. The central bank has 703 billion-franc in foreign currency reserves, amassed over the years through currency purchases to contain the strength of the franc. A quarter is held in equities. A portion of that is in the US, requiring disclosure of such holdings according to American securities rules. The SNB’s disposal of a stake in Chevron that previously totaled $712 million was revealed in its latest filing this month. The share investments tend to mirror major indexes, and the SNB tries to be market-neutral. The central bank retains shares in other oil producers including Exxon Mobil Corp. and ConocoPhillips. Activists have been pressuring the SNB for years to stop holding stocks in businesses whose products foster climate change. A focal point for protests is the central bank’s annual shareholder meeting. At the most recent one last month, protesters gathered in front of the venue with placards of President Martin Schlegel’s face and the slogan “burn, baby, burn.” At that event, Schlegel recited the institution’s policy that it may not pursue climate targets with its portfolio because its mandate is solely focused on price stability. The central bank’s investment guidelines prohibit purchasing stocks or bonds of companies that “systematically cause severe environmental damage.” Producers of internationally condemned weapons, coal mining companies and systematically relevant banks are also excluded. ©2025 Bloomberg L.P. This article was generated from an automated news agency feed without modifications to text. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
SNB Excluded Chevron from Its US Holdings Due to Environmental Issues.
