Geneva approves 3.3M indemnity for Carouge street works
The City Council of Geneva approved a 3.3 million Swiss franc fund on Tuesday evening to compensate traders along Rue de Carouge who have been affected by the city’s extensive street transformation. This package, designed to soften the impact of a large-scale pedestrianisation and greening project, will cushion commercial losses during construction. Of the total, one million francs come from Transports publics genevois (TPG) and 300,000 francs from Services industriels de Genève (SIG). The remaining share comes from the other project owners involved in the works.
City finances spokesperson Anna Vaucher confirmed the decision on Wednesday, noting the unanimous vote. The initial proposal started at 2 million francs, but an agreement with the other owners enlarged the envelope and allocated funds proportionally to the scale of works conducted by each party. The project leaders were keen to reassure merchants that the indemnity would reflect real disruption and assist those who apply for relief.
Rue de Carouge has been undergoing a major transformation since late June, with the aim of pedestrianising and greening the street. Beyond the City of Geneva, which is upgrading its underground sewer network as part of the project, two other authorities are involved: TPG, replacing tram rails, and SIG, handling other utilities. The result is a street cut open from the Plainpalais roundabout to Place des Augustins, with pedestrian detours and barriers along the route. The works are scheduled to continue through December.
For merchants who request it, the indemnity corresponds to six months of rent. City officials stressed that the support is designed to compensate for losing customer traffic and the costs that come with keeping a business afloat during construction. The arrangement is intended to be practical, straightforward, and accessible to affected traders.
This article was prepared from a notice circulated by the city and reported by ATS.
Geneva’s election landscape: second round set for October 19
The political scene in Geneva will move to a runoff on October 19, with Green candidate Nicolas Walder facing UDC contender Lionel Dugerdil. An outsider, Philippe Oberson of Le Peuple d’abord, will also participate in the second round. After the first round, Walder led by a substantial margin, with a gap of 5,542 votes. Walder will represent the Greens and Socialists, while Dugerdil runs on an Alliance list combining center-right parties. Xavier Magnin of the Vert’libéraux withdrew as expected, and other parties chose not to issue recommendations for the runoff. Former mayor Rémy Pagani and other candidates did not stand in the second round, as forces on the left urge a broad mobilization to block the UDC candidate.
Richemont taps Matthew Ives to lead Dunhill
Richemont announced the appointment of Matthew Ives to lead its British menswear and accessories brand Dunhill. He will report to Philippe Fortunato, head of Richemont’s Fashion and Accessories maisons in Geneva. Ives succeeds interim COO and CFO Andrew Holmes as CEO. A Cambridge University graduate, he has held senior roles at Cartier and Van Cleef & Arpels, and most recently served as senior vice president and chief commercial officer at De Beers in London. His appointment marks a continuation of Richemont’s strategic leadership in its luxury brands.
SIG to recalibrate CO2 tax billing for about 200 clients
The cantonal energy group SIG will adjust charges for around 200 customers over a CO2 tax dispute, following a Court of Auditors review. In total, 6.4 million francs will be paid out in the coming months to those affected. The CO2 tax, part of Switzerland’s decarbonisation plan, was integrated into an environmental contribution after 2016, with SIG as a heat provider dependent on gas. The Court criticized SIG for receiving funds without passing a corresponding federal rebate to clients and urged simplification of the tariff structure and the creation of a fund to balance the contribution over time. SIG acknowledged the evaluation, saying work on tariff simplification continues and a comprehensive review should be complete in 2026.
Addex: mid-year results show growing losses
Geneva-based Addex, a specialist in allosteric modulators, posted a net loss of 3.3 million francs for the first half of 2025, compared with a near 9.8 million franc profit at mid-2024. In the second quarter alone, losses reached 1.8 million after a 12.9 million franc gain in the prior quarter, while revenue remained modest at 107,000 francs. R&D spending declined to about 391,000 francs amid the company’s ongoing collaboration with Indivior. Cash and cash equivalents stood at 2.3 million at the end of June, down from 3.8 million a year earlier, largely absorbed by operating activities.
Sustainable Geneva: prizes for mobility and agriculture
The 24th edition of Geneva’s sustainable development awards honored Radio Vostok and Cycloo Suisse for projects combining economic viability, social solidarity, and environmental protection. Both winners highlighted the use of bikes for mobility and logistics: Radio Vostok’s Vostok Solar Tour introduces a mobile, autonomous radio infrastructure powered by a cargo bike, while Cycloo Suisse developed bio-seaux—compact 20-liter containers carried by cargo bikes to optimize food-waste collection for restaurants. They share a prize fund of 30,000 francs. The cantonal prize went to Raphaël Piuz for establishing the first Swiss conservatory of grape varieties resilient to disease in Hermance, promoting ecological viticulture. The Green awards also included Calim, a Geneva Food Bank pilot aimed at offering monthly 150-franc allowances to 200 participants for food purchases in partner outlets, reflecting a citizen-led approach to sustainable nutrition.
