Going For The Source

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🎙 “Now we have shown that one can successfully litigate against fossil fuel corporations and I think that the next step is to start also litigating against financial institutions who make these emissions and fossil fuel projects possible.” - Roger Cox, lawyer for the Dutch branch of Friends of the Earth. 

Per this COP26 report on CNBC, financiers could be the next targets of climate litigation cases, according to the campaigners who helped secure a landmark courtroom victory against oil giant Royal Dutch Shell.

The Backstory

On May 26, the Hague District Court had ordered the Anglo-Dutch oil giant to reduce its global carbon emissions by 45% by the end of 2030. It also clarified that Shell is responsible for its own carbon emissions plus those of its suppliers, known as Scope 3 emissions.

This ruling marked the first time in history in which a company had been legally obliged to align its policies with the Paris Agreement, creating a watershed moment in the war for a greener planet.

Court Is The Last Option

The activists aren't being brazen about dragging financial institutions to court straight away, but want to use that option as a deterrent. 

The group feels that; 

• With the young gathering on the streets for climate action. 
• Activist shareholders creating pressure on board members to reduce emissions. 
• And a bombshell report from the International Energy Agency that said - it sees “no need for investment in new fossil fuel supply” 

it has enough ammo at hand to help it achieve the Paris Agreement’s goals. 

At a time when leaders from 197 countries are taking part in discussions with the goal of keeping the all-important global target of 1.5 degrees Celsius alive, it seems more, is still less.