In the world's first climate lawsuit against a commercial bank, Friends of the Earth (Les Amis de la Terre) France, Notre Affaire à Tous and Oxfam France, who had given BNP Paribas formal notice to comply with its due diligence obligations on 26th October, has sued the bank over its support to fossil fuels and for its contribution to climate change.
The three NGOs filed a lawsuit at the Paris Judicial Court and a summons has been issued because BNP Paribas has so far failed to comply with the French duty of vigilance law.
Justine Ripoll, campaigner at Notre Affaire à Tous, said: "The French duty of vigilance law imposes an obligation on multinationals in all sectors to take action to protect human rights and the environment, and to do so efficiently. The financial sector has a huge responsibility in our collective ability to comply with the Paris Agreement. This first climate litigation against a commercial bank is undoubtedly the first of many around the world.”
The historic lawsuit is part of a global litigation movement of NGOs that aims to hold the major funders of climate chaos accountable for their legal responsibilities.
Printed Copy:
Would you also like to receive CIR Magazine in print?
Data Use:
We will also send you our free daily email newsletters and other relevant communications, which you can opt out of at any time. Thank you.
YOU MIGHT ALSO LIKE