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TotalEnergies SE (NYSE:TTE) reportedly got sued by a Belgian farmer, Hugues Falys, seeking compensation for climate change-fuelled damage to his farm and a legal order for the company to stop investments in new fossil fuel projects.
The case was filed on Wednesday at the Tournai commercial court, which is the first climate change-related lawsuit in Belgium to target a multinational company, as per Reuters.
Hugues Falys, who farms a herd of cattle in the municipality of Lessines, reportedly argues that “as one of the world’s top 20 CO2-emitting companies, TotalEnergies is partly responsible for damage extreme weather did to his operations from 2016-2022.”
Related: TotalEnergies & Airbus Team Up for Sky-High Sustainability, Target 90% CO2 Emission Cut
As per the report, during the period, the successive droughts lowered the yield of his meadows, where he grows fodder for the animals, forcing him to buy feed and, eventually, reduce the size of his herd.
Read: TotalEnergies Goes Both Ways: Fighting Emissions While Investing In Exploration
Falys says that TotalEnergies has failed to comply with Belgian law, which requires that anyone who causes damage must make reparations for it.
This legal case involves thousands of citizens urging the Belgian government to demand more stringent cuts in greenhouse gas emissions.
Falys and three campaign groups participating in the legal action are seeking an injunction to compel TotalEnergies to revamp its business plan, as outlined in the report.
Also Read: TotalEnergies’ Texas Refinery Leak Shuts Down Key Units: Report
Price Action: TTE shares are trading higher by 1.55% at $67.30 premarket on the last check Wednesday.
Posted In: TTE
