[idownvoted]

Non-Swiss here: From what I can read from swiss media, its rejection was due because the hike would have served more government jobs than it would have made any dent in the global climate: Swiss CO2 emissions are equal to 5% to those of Germany, or 0.3% of China.

As a matter of fact China increased its CO2 emissions in 2019 alone by five Switzerlands [1].

Plus it would have increased housing costs dramatically for a nation that consists largely of renters.

[1] https://ourworldindata.org/grapher/annual-co2-emissions-per-...