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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on February 19, 2025

    Featured image for article about Headlines

    STOCKHOLM (Reuters) - Sweden's Supreme Court ruled on Wednesday that Greta Thunberg and hundreds of other activists cannot proceed with a class action lawsuit that had sought to force the state to take stronger action against climate change.

    Activists filed a lawsuit in 2022 arguing that the state violates the European Convention on Human Rights by not doing enough to limit climate change, or mitigate its effects, and the case has since been subject to review on procedural grounds.

    The group of 300 plaintiffs in the case, who call themselves the Aurora group, wanted the courts to order Sweden to do more to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit).

    "A court cannot decide that parliament or the government should take any specific action without the democratic bodies deciding independently on those issues," Supreme Court Justice Jonas Malmberg told Reuters.

    But the court did not rule out that a climate lawsuit formulated differently could be heard in Sweden, as the European Court of Justice has said groups meeting certain requirements may have the right to sue over climate change.

    "The Supreme Court states in its decision that such a case could only concern the question of whether individuals' rights under the convention have been violated, not what specific measures the state is obliged to take," it said in a statement.

    The Aurora group said it would review its legal options.

    "We will continue to desperately try to prevent planetary collapses and get Sweden to do their legal duty to respect human rights and stop making the planetary crisis worse," Aurora's legal and scientific coordinator Ida Edling told Reuters.

    Last year, the European Court of Human Rights (ECHR) ruled that the Swiss government had violated the rights of an association of senior women by failing to do enough to combat climate change.

    But it rejected two other cases, including one filed by six young Portuguese individuals brought against 32 European countries where the plaintiffs said states were failing to avert catastrophic climate change.

    The court said those individuals first needed to seek a ruling in Portugal.

    (Reporting by Ali Withers, Anna Ringstrom, Louise Rasmussen and Stine Jacobsen; Editing by Terje Solsvik and Helen Popper)

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