- ABB joins Switzerland 2038 “flag bearers” by participating with CHF 20 million private guarantee to help ensure the success of Switzerland’s candidature to host the Olympic and Paralympic Winter Games 2038
- Unique bid concept focuses on decentralized games with venues across Switzerland
ABB has become one of the guarantors from the private sector to Switzerland’s bid to host the Olympic and Paralympic Winter Games in 2038, joining the community of “flag bearers” of the project that already includes On and Sunrise. The company has committed to provide CHF 20 million to the delivery guarantee undertaken by private companies. The guarantee would be called upon if a deficit were to arise after the 2038 Olympic and Paralympic Games take place.
Switzerland is currently in a ‘privileged dialogue’ with the International Olympic Committee (IOC) reserving it the right to develop its candidacy for the Olympic and Paralympic Winter Games 2038 until the end of 2027. With its application, Switzerland would become the first countrywide host for the Winter Olympic and Paralympic Games instead of the Games being awarded to an individual city or region. As part of the decentralized concept, venues are planned in all four of the country’s language regions with the budget financed largely privately, with support from the public sector.
Peter Voser, Chairman of ABB, said: “The Switzerland 2038 bid represents a vision of decentralized and sustainable Games that resonates strongly with ABB's values and our Swiss roots. Our guarantee reflects our belief in Switzerland's ability to host innovative, forward-thinking Games that leverage the country's technological leadership and natural beauty. We are proud to support this groundbreaking bid and to demonstrate that Switzerland can reimagine what the Olympic and Paralympic Winter Games can be.”
Frédéric Favre, CEO of Switzerland 2038, said: "ABB's commitment demonstrates strong confidence in our vision. Having a leading global company like ABB that focuses on innovation and sustainability support the bid validates our model – one that combines private support with public backing. Together with the other flag bearers, ABB’s guarantee provides an important financial security to develop a project that is cost-effective, sustainable, and showcases Swiss excellence."
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com
Switzerland 2038
On 29 November 2023, the IOC decided to enter into a “privileged dialogue” phase with Switzerland as regards the organisation of the Olympic and Paralympic Winter Games 2038. This status gives Switzerland an exclusive opportunity until the end of 2027 to further develop its project and address the requirements identified during the discussions. Depending on the progress made, this phase may lead to a Targeted Dialogue for the 2038 Games.
The Switzerland 2038 association was founded to manage the country’s bid and to organise the Olympic and Paralympic Winter Games 2038 in Switzerland, should the bid be successful. The national Olympic winter sports associations (SWISSCURLING, Swiss Ice Hockey Federation, Swiss Ice Skating, Swiss Sliding and Swiss-Ski), Swiss Olympic and Swiss Paralympic are members of the association and are represented on the Board. The association is jointly presided by Lenka Kölliker, President of SWISS CURLING, and Ruth Wipfli Steinegger, Vice President of Swiss Olympic. Frédéric Favre, former member of the Valais cantonal council, manages the association’s day-to-day operations.
Contact
medien@switzerland2038.com
