NGO Files First-of-Its-Kind Climate Change Lawsuit against Investment Bank in Brazil

On June 21, 2022, an NGO filed a first-of-its-kind climate change lawsuit against an investment bank in Brazil. Among other claims, the NGO asserts that the bank allegedly maintains equity positions in sectors considered to be the most carbon-intensive, and, based on such allegation, the plaintiff asks the court to compel the bank to prepare a greenhouse gas emissions reduction plan to guide its investments in light of the Paris Agreement and the Brazilian National Policy on Climate Change (PNMC). Our Legal Update here briefly discusses this novel climate litigation case and its importance to the broader climate litigation landscape.

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