Notice of intent to sue (unofficial English translation) 

In October 2022, French environmental NGOs Notre Affaire à Tous, Les Amis de la Terre, and Oxfam France sent a notice of intent to sue BNP Paribas. Considering the answer by BNP Paribas, sent on January 24, 2023, as largely insufficient and unsatisfactory, the NGOs decided to bring suit before the Judicial Court of Paris. The notice of intent to sue - which was the first, and necessary, pre-trial step – and the subsequent summons filed before the Judicial Court of Paris on February 23, 2023 claim that BNP Paribas violated the loi sur le devoir de vigilance of 2017 (Law on the duty of vigilance, incorporated in articles L. 225-102-4 and L. 225-102-5 of the French Commercial Code), the articles of the Civil Code on the prejudice écologique (articles 1246-1252 of the French Civil Code), which refers to any “non-negligible impairment of the components or functions of ecosystems or the collective benefits derived by humans from the environment”, and BNP’s “unilateral commitment of will” to limit and combat climate change.

The law on the duty of vigilance provides that specific companies (those that employ “at least five thousand employees within the company and its direct and indirect subsidiaries, whose head office is located on French territory, or that has at least ten thousand employees in its service and in its direct or indirect subsidiaries, whose head office is located on French territory or abroad”) must establish a plan to prevent the violation of human rights and environmental damage that may occur in the course of their business. The plan must “include reasonable vigilance measures to identify risks and prevent serious violations of human rights and fundamental freedoms, the health and safety of individuals and the environment, resulting from the activities of the company and those of the companies it controls (...) as well as from the activities of subcontractors or suppliers with whom there is an established business relationship, when these activities are related to that relationship.” If the plan is not correctly drafted or is inadequate to measure and prevent these risks, the company is liable for the damages that it could have prevented. Anyone with a legitimate interest can also ask for injunctive relief to force the company to comply with the law, a groundbreaking preventative mechanism for French legal proceedings.

The summons sent by Notre Affaire à Tous et al. to BNP Paribas details multiple violations of the law. The violations relate not only to how BNP Paribas’ plan is drafted but also the lack of clarity concerning the report of information about investments and loans and, last but not least, the shortcomings of the measures that the bank allegedly implements to respect the parameters of the Paris Agreement. First, the plan is not self-sufficient, but it refers to other documents that do not provide for binding commitments. Second, it does not identify with sufficient clarity the climate risks deriving from its activities, both in terms of the fossil fuel projects in which BNP Paribas is directly involved and the companies that it supports through its financing and investments. Third, it is not transparent concerning the disclosure and reporting of information concerning BNP Paribas’ financing and investment activities, as it is limited only to some sectors and does not include scope 3 emissions. Fourth, the plan does not contain any precise and exhaustive information on the stocks and flows of financing and investments to companies active in the fossil fuel sector. Finally, the plan does not include the commitment to cease all financing and investments that support the expansion of fossil fuels that is necessary to comply with the law on the duty of vigilance. Therefore, the plaintiffs claim that BNP Paribas must immediately terminate any financing to companies which develop new fossil projects and any investment in any company which develops new fossil projects. Concerning its existing investments, BNP Paribas must exercise its voting rights and influence in order to force the invested company to renounce new fossil projects and adopt, detail and publicly implement measures compatible with limiting global warming to 1.5°C. If this is not possible, BNP Paribas must divest. Moreover, concerning its activities of financing and investment in any GHG emitting activities, it must adopt, publish and effectively implement all measures compatible with a 1.5°C trajectory. 

Notre Affaire à Tous Les Amis de la Terre, and Oxfam France v. BNP Paribas

<p>This entry was provided by the Sabin Center for Climate Change Law. Please see the terms of use for citation and licensing of third party data.</p>

Notre Affaire à Tous Les Amis de la Terre, and Oxfam France v. BNP Paribas - Other

Filed

France

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Justice is the ethical and political framework that addresses fairness, including issues of responsibility, rights, and structural inequity.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

Financial support to help individuals manage the effects of unexpected events, securing their livelihoods and increasing the resilience of people and businesses to the changing climate. It’s especially vital in developing regions where everyday risks, climate-related weather extremes, or crop failures can push people into poverty. Without insurance, people may have to resort to selling assets or cutting consumption to cope with losses.

The processes through which enterprises can identify, prevent, mitigate and account for how they address their actual and potential adverse impacts. Due diligence is the idea that reasonable precautions should be taken to avoid causing harm to people, the environment, or society. It also involves identifying and mitigating risks before they occur.

A ban is a legal action that prevents the sale or supply of a product or service, or that recalls a product from the market. Examples are bans on SF6, greenwashing, fossil fuel advertisement or single-use plastics.

A company that is owned wholly or partially by the state, typically operating in key sectors.

A target to reduce the prevalence of a greenhouse gas over a specific time frame

A commitment to balance GHG emissions with removal by a certain point in time, effectively reducing the net emissions to zero

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Conditions that enhance the feasibility of adaptation options. Enabling conditions include finance, technological innovation, strengthening policy instruments, institutional capacity, multi-level governance and changes in human behaviour and lifestyles.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

A long-lived, colourless gas, chiefly emitted from fossil fuel combustion, deforestation and cement production.

A potent, short-lived greehouse gas, largely released from livestock, fossil fuel extraction and waste management.

Terrestrial means "of the earth" and relates to the risks to ecological system that includes all living organisms and their interactions within land-based environments, such as forests, grasslands, and deserts.

Oil is a combustible liquid fossil fuel composed mainly of hydrocarbons, occurring as crude oil and refined into petroleum products such as petrol, diesel and kerosene.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

Coal is a combustible sedimentary rock formed from carbonised plant matter, rich in carbon and hydrocarbons, and occurring in several main types including hard coal and brown coal.

Work that is productive and delivers a fair income, security in the workplace and social protection for all, better prospects for personal development and social integration, freedom for people to express their concerns, organize and participate in the decisions that affect their lives and equality of opportunity.

Activities of industries that extract natural resources, such as mining, oil, and gas, for commercial use.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

This sector involves activities to move goods and people, alongside the storage of products.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

Climate change impacts our society by disrupting the natural, economic and social systems we depend on. Physical hazards and underlying vulnerabilities can lead to increased resource competition for food and water, which can heighten the risk of conflict.

Slow onset events evolve gradually from incremental changes over many years or from increased frequency or intensity of recurring events. As defined in the Cancun Adaptation Framework (2010), slow onset events include risks and impacts from rising temperatures, desertification, biodiversity loss, land and forest degradation, glacial retreat, ocean acidification, sea level rise, and salinization.

Notre Affaire à Tous Les Amis de la Terre, and Oxfam France v. BNP Paribas - Other

Target

Policy instrument

Risk

Just transition

Renewable energy

Fossil fuel

Greenhouse gas

Economic sector

Adaptation/resilience

Finance