Banque Cantonale de Geneve : Dialogue Winter 2020/21 is available

The Banque Cantonale de Genève magazine Winter 2020 / 21

Responsible finance

The CEO's editorial

Economic study

Life sciences, centre of excellence in the Lake Geneva region

Investment

The edition enhanced by the BCGE Philosophy

Values and convictions

Exclusive interview

Eline Rol, rower

The content of this magazine is purely informative and shall not be deemed an offer for services or products, in particular banking, from Banque Cantonale de Genève, nor as an offer or the solicitation for a purchase or sale of securities or of any other investment product. BCGE is a bank licensed in Switzerland and in France (for its subsidiary BCGEF) and this publication is not aimed at any jurisdiction in which BCGE is not licensed to operate.

BESTOF/CH/E/270820/EU

	Selection of		Made
Open	the best equities		in
architecture	worldwide		Switzerland

Performanceis produced by the real economy and its companies.

GENEVA ZURICHLAUSANNE BASELLYON ANNECY PARIS DUBAI HONGKONG

bcge.ch/best-of

Best of is a brand of the Banque Cantonale de Genève Group.

This announcement is published exclusively for information purposes and does not constitute an offer or recommendation to purchase products or provide financial services. It should not be considered as the basis for an investment decision, which must be based on specific and personalised advice. Transactions involving investment funds are subject to laws and tax provisions in different jurisdictions. The investor is personally responsible for obtaining the necessary information and complying with these regulations.

A PRODUCT OF THE AVANTAGE SERVICE PROGRAMME

Above, the new online advertising for the management mandate , the spearhead of BCGE asset management.

Editorial

Responsible finance: how to contribute without discriminating?

Commercial banks lend to companies and households for a wide range of reasons. They provide lending for investment, working capital, housing, as well as

for personal projects such as continuing education or mobility. They transform the savings and cash deposits they collect into various types of bank loans.

In doing so, they take on risks which are then remunerated with interest. As such, the higher the potential risk of a loan, the higher the price (interest rate) and vice versa. In Switzerland, this lending mechanism is efficient and sophisticated. As a result, borrowers can benefit from vigorous competition, which means they can obtain the most favourable lending costs and a fast response.

When reviewing loan applications, banks carry out numerous checks on the risks associated with the borrower and the type of business envisaged. Entering into a contractual relationship is based on an initial capital of confidence: confidence in the borrower's future behaviour, as well as confidence in the account they give of their economic background. Compliance analyses are carried out primarily to protect the bank and ensure compliance with all applicable regulatory standards. These are assumed to be completely neutral from an ideological point of view. They must be free from partisan favouritism or discrimination based on background, opinions, religion, origin or any other such parameters.

Banks are very sensitive to (E)nvironmental, (S)ocial and (G)overn- ance issues. Their shareholders, clients and employees all expect the bank to contribute to the best possible standards and conditions in all "ESG" areas. But how can they contribute to these principled challenges without discriminating in terms of subjective criteria? This is a key dilemma, which comes to light when concrete decisions are taken.

"Financial institutions are determined to contribute to genuine sustainable finance.

Yet they are not entitled to discriminate against certain categories of economic players - their clients - on an arbitrary basis."

Blaise Goetschin

Let's take a few examples of potential prohibitions: i) lending, involving a mortgage loan and equipment leasing, to a cattle breeding farm - out of the nearly 28,0001 in Switzerland - due to its contribution to global warming via methane emissions;

1. lending for a second home, out of the 700,0002-plus in Switzerland (completely unsound from an energy consumption point of view, given the average occupancy rate of a chalet or flat); iii) a personal loan for an academic course (including a flight to Harvard or UCLA) or the purchase of a pet (a German shep-
   herd produces twice as much CO2 in one year (0.84 ha/year) as an SUV travelling 10,000 km, according to a study by the University of Victoria, New Zealand).

There are countless examples, and when looking from this per- spective, it is clear that the environmental issues are much more complex than we are led to believe when considering the usual suspects of coal, oil and aviation (a sector credited with producing 2-3% of global CO2 emissions in normal times).

Should we or should we not finance or invest in tourism, leisure, motor sports, jewellery, infrastructure, cinema, blockchain, streaming, big shows, e-commerce, and so on? That is the ques- tion. "I barely even know what the word 'sustainable' means any more", said Stella McCartney, "there's so much greenwashing going around, as we all know, and there's confusion about what these words mean." 3.

For more information

• bcge.ch/en/performance-

responsable

A range of banking services that meet the highest ethical and environmental criteria

1. https://asr-ch.ch/fr/elevage-bovin-en-suisse/
2. Source : Housing inventory, Swiss Office for Spatial Development
3. Femina, 18 October 2020, p. 7

Financial institutions are determined to contribute to genuine "sustainable finance". Yet they are not entitled to discriminate against certain categories of economic players - their clients - on an arbitrary basis. Sanctions, exclusions or restrictions come under sovereign powers in a democracy, a task which lies with legislative authorities.

Blaise Goetschin

CEO

BCGE Dialogue Winter 2020 / 21 | 1

Summary

Outlook

1. Economic outlook 2021, disconnect or connect?
   Cockpit
2. Geneva's economy at a glance
   Macroeconomy
3. Outlook 2020-2021

To go further

1. BCGE financial publications
   Economic environment
2. Is healthcare the key to Switzerland's resilience?
   Economic study
3. Life sciences constitute a centre of excellence in the Lake Geneva region
   Insight
4. French-speakingSwitzerland's GDP 2020 - Training as a response to artificial intelligence
   Digital and mobile bank
5. • BCGE enables you to make payments with

a smartphone or a connected watch

• The BCGE e-banking hotline is available 7 days a week

Investment

10 Which securities should be selected from amongst the nebula of financial investments?

Asset Management

1. First conference in live streaming
   Business model
2. BCGE, a bank organised by market segments

Achievements

14 • BCGE awarded by Obermatt

• 15,000th shareholder for BCGE
• Mixed representation on the BCGE Board of Directors

Financing

1. The Swiss Pfandbrief® (mortgage bond) - rock solid
   Corporate Clients
2. Innovation Business loan available online
   Corporate Finance
3. Capital increase or mezzanine financing?

Investor relations

1. Meeting with institutional investors in Zurich
   Governance
2. New Head of Finance Division

BCGE network

20 Grand-Saconnex,

a brand new branch

International

1. BCGE close to the Swiss living abroad
   Values and convictions
2. When sustainable management meets high performance sport

Partnerships

24 • Prix de l'artisanat (craftsmanship award) 2020

• Green roofs

1. Support
   Geneva, a business in action
2. Schmidt-Nagel,a Geneva based laboratory at the forefront of homeopathy

Genève, a municipality in action

28 Saint Mark's Tower will rise into the sky by 2023

Geneva, culture and society

30 Bicentennial of the Natural History Museum of Geneva, reflecting on our nature and our relationship with it

Reader's corner

32 • Swiss Jurassic, dinosaurs and mammoths in our Gardens! 

• Feedback, the multivitamin of champions 
  33 Around the corner, close to you!
  33 More information about BCGE

Impressum	Copyright: any full or partial reproduction of the texts is subject to the publisher's
Publisher: Banque Cantonale de Genève - Communication department	authorisation
Editor-in-chief: Lydia Albrecht, Nathalie Vernaz	Photos and illustrations: Fred Merz | Monday13, Magic Pencil, Loris Von Siebenthal,
Alternative, Nicolas Spuhler, Philip Van Woerden, Aino Adriens, 2dlc Architects,
Coordination, editorial secretariat: Nathalie Vernaz
Philippe Wagneur / Muséum de Genève
Proofreading: Pierre Joguin	Information contained in this document is based on reliable sources.
Translation into English: Danielle van Uchelen
However, the Banque Cantonale de Genève cannot be held liable for its content.
Print run: 40,400 copies	The opinions expressed in this magazine are not necessarily those of the publisher.
Creation and graphic design: Alternative.ch	Disclaimer: Translation of the original French version. In case of any divergence,
Printing: ATAR Roto Presse SA	the French version shall prevail.

BCGE Dialogue Winter 2020 / 21 | 2