Snapshot: On 23 February 2023, three NGOs filed a lawsuit against BNP Paribas in France. The lawsuit alleges that BNP Paribas violated the French Duty of Vigilance Law by financing fossil fuel expansion. BNP Paribas denies the allegations and responded that its vigilance plan aligns with the French Duty of Vigilance Law. This is the world’s first climate lawsuit against a commercial bank. The case is ongoing.

Factual Background

BNP Paribas, the second largest European bank headquartered in France, has been a significant funder of fossil fuel development. Banks play a substantial role in climate change by financing fossil fuel projects and investing in polluting industries, facilitating the growth of activities that generate considerable greenhouse gas emissions. According to a report, BNP Paribas provided $55 billion in financing for fossil fuel activities between 2016 and 2021, including $43 billion to eight European and American oil and gas giants, making it their world's leading funder during this period. Research indicates that, in 2020, BNP Paribas' carbon footprint surpassed France's territorial emissions, highlighting the significant environmental impact of the bank's financing decisions.

In October 2022, three NGOs, Les Amis de la Terre France, Notre Affaire à Tous, and Oxfam France, sent a formal notice to BNP Paribas in accordance with the 2017 French Duty of Vigilance law, which requires companies to adopt effective measures to prevent violations of human rights and the environment. The NGOs demanded that the bank cease supporting fossil fuel development, proposing a phased exit from oil and gas sectors by 2050 with significant reductions by 2030, aligning with scientific recommendations. On 24 January 2023, BNP Paribas responded, indicating that they would continue supporting new oil and gas projects. The NGOs found this response unsatisfactory.

Therefore, on 23 February 2023, the NGOs filed a lawsuit against BNP Paribas in the Judicial Court of Paris, France, alleging that the bank violated the French Duty of Vigilance Law by financing fossil fuel expansion.

Legal Argument

The NGOs contend that BNP Paribas breached the 2017 French Duty of Vigilance Law which requires companies to adopt effective measures to prevent violations of human rights and the environment. The law allows affected parties to take legal action to compel a company to comply with its obligations and adopt and implement the necessary vigilance measures to limit risks and prevent serious harm if the company fails to do so within three months of receiving a formal notice. The NGOs accuse BNP Paribas of supporting "the most aggressive companies responsible for developing new oil and gas fields and infrastructures" despite repeated calls from the scientific community to halt new fossil fuel investments due to their impact on climate change.

Legal Proceedings

On 23 February 2023, three NGOs (Les Amis de la Terre France, Notre Affaire à Tous, and Oxfam France) filed a lawsuit against BNP Paribas, alleging that BNP Paribas violated the French Duty of Vigilance Law by financing fossil fuel expansion in the Judicial Court of Paris in France. The case is ongoing.

News Items

• French bank BNP Paribas sued for financing fossil fuel companies, RFI, 23 Feb 2023
• France: BNP Paribas put on notice to cease its support of new fossil fuel projects, RFI, 27 Oct 2022

Company

• BNP Paribas's announcement, 24 January 2023

NGOs (Les Amis de la Terre France, Notre Affaire à Tous, and Oxfam France)

• France: 3 NGOs file climate lawsuit against BNP Paribas over alleged failure to comply with French duty of vigilance law, 23 Feb 2023
• Taking a funder of climate chaos to court, 23 February 2023

Court Documents

• Writ of Summons (in French), 23 February 2023
• Writ of Summons (unofficial English translation), 23 February 2023