Climate activist groups took legal action against BNP Paribas, one of Europe’s biggest banks, on Thursday, alleging the French lender’s loans to big oil and gas companies breach a legally binding duty to ensure its activities do not harm the environment. Climate campaigners are increasingly using lawsuits to force a greater effort by big companies to shift to a low-carbon economy.
“We are focused on our fossil fuel exit path, accelerating financing for renewable energies and supporting our customers, without whom the transition cannot be made.” Fossil fuels The three NGOs said their legal approach against BNP Paribas was modeled on the case in the Netherlands in which Shell was ordered to deepen planned cuts in its greenhouse gas emissions. Shell filed an appeal against the ruling last year.
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