Report sees key role for Switzerland in commodities trading
Keystone-SDA
Switzerland is one of the most important hubs for global commodities trading. The sector plays a key role in reducing the harmful effects of commodities trading on the environment and society, according to a new report.
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In a report published on Wednesday by the Swiss Academy of Sciences (SCNAT), experts from 11 research institutions came to the conclusion that trading houses have long been more than just intermediaries.
+ Commodity trading in Switzerland, explained
They finance extraction projects, secure harvests, operate harbours, warehouses or mines in some cases and increasingly trade in financial products on commodities.
This has increased their control over entire value chains. According to SCNAT, the consequences can be seen in deforestation, water consumption and biodiversity.
According to the report, 60% of the copper, aluminium and iron ore trade, 53% of the coffee trade and 39% of the crude oil trade go through Swiss traders.
The researchers therefore believe that Switzerland is in a special position to help shape the development of commodity trading.
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Adapted from German by AI/mga
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