Reuters
- Climate activists say BNP Paribas is violating a French law meant to reduce environmental risks.
- Groups are using lawsuits to try and force companies to move away from fossil fuels faster.
- BNP Paribas defended its plan to exit the fossil-fuel sector and have a net-zero portfolio by 2050.
Three climate-activist groups on Thursday sued the bank BNP Paribas over its fossil-fuel financing, saying it violated a French law requiring companies to prevent risks to the environment.
The case marks the first climate lawsuit against a commercial bank and comes as activists increasingly use the courts to try and force big companies to transition to a low-carbon way of operating.