Swiss climate protesters have won a landmark legal battle against investment bank Credit Suisse, which could transform the way that climate activism is prosecuted in Switzerland in future.

A judge ruled on Monday that the danger posed by climate change means activists from the climate group Breakfree were not guilty of trespassing when they occupied a branch of the Swiss investment bank two years ago to demonstrate against the financiers' funding of fossil fuel projects.

The case has added to pressure on big finance to clean up its role in the climate crisis.

Activists vs big finance

In November 2019, a group of young people wearing tennis kits and wigs staged a tennis-themed sit-in at a Credit Suisse branch in Lausanne. Their goal was to convince Swiss tennis player Roger Federer to end his sponsorship deal with the investment bank and highlight what they said was Credit Suisse's investments in industries which are seen as adding to climate change.

The group was charged with trespassing and slapped with a 21,600 Swiss franc fine ($22,200), but during their appeal hearing on Monday, Judge Philippe Colelough stated that the activists had acted proportionately and ruled that they did not have to pay the fine.

The judge agreed with the protesters that they had entered the bank in the face of an "imminent danger" from climate change.

"Because of the insufficient measures taken to date in Switzerland, whether they be economic or political, the average warming will not diminish nor even stabilize, it will increase," he said. Adding that: "In view of this, the tribunal considers that the imminence of danger is established.

"The act for which they were incriminated was a necessary and proportional means to achieve the goal they sought."

The ruling, given in the Lausanne municipality of Renens, was greeted with cheers from the crowded court room. The Swiss state will cover the cost of the fine instead.

"I didn't think it was possible," said Beate Thalmann, one of those accused in the trial. "If Switzerland did this, then maybe we have a chance."

Credit Suisse said last week that, while it respected the protesters' cause, it considered the occupation of the bank's property unacceptable.

"Combating global warming is important," the financier said in a statement. "Credit Suisse respects freedom of expression as a fundamental democratic right. [However,] to protect its clients, employees and branches, it does not tolerate unlawful attacks on its branches, irrespective of the perpetrators and their motives."

Since the decision from the court, there has been fresh Swiss climate activism. On Tuesday, protesters dumped coal inside a branch of bank UBS in the same city of Lausanne, while carrying a banner reading: "We will leave when you quit fossil fuels."

"The action was intended to be symbolic and give them back the coal whose extraction they financed," said a witness from Greve du Climat Vaud [Climate Strike Vaud]. Police later dragged the activists out."

Greta puts Federer in the firing line

Putting added pressure on the Swiss bank, Federer came under attack from Swedish climate activist Greta Thunberg, when she shared several posts on Twitter in solidarity with the Swiss protesters and questioning the tennis star's involvement with Credit Suisse.

One of the tweets from environmental advocacy group 350.org Europe accused Credit Suisse of having provided $57 billion to companies carrying out fossil fuel exploration since 2016. The message was accompanied by the hashtag #RogerWakeUpNow.

The 38-year-old tennis star, who was preparing for the Australian Open, released a statement in reply to the criticism, saying he had a "great deal of respect and admiration" for the youth climate movement.

"I take the impacts and threat of climate change very seriously, particularly as my family and I arrive in Australia amidst devastation from the bush fires," he added.

"As the father of four young children and a fervent supporter of universal education, I have a great deal of respect and admiration for the youth climate movement, and I am grateful to young climate activists for pushing us all to examine our behaviors and act on innovative solutions.

"We owe it to them and ourselves to listen. I appreciate reminders of my responsibility as a private individual, as an athlete and as an entrepreneur, and I'm committed to using this privileged position to dialogue on important issues with my sponsors."

Federer is set to join the Rally for Relief charity event in Melbourne next week to raise funds for the efforts to tackle Australia's devastating bush fires. A spokesperson stated on Monday that his dialogue with Credit Suisse on its climate change impact had already started, but did not release the details of the talks.

Switzerland heating up 

Switzerland has seen an increase in climate activism over recent years, with the country's Green Party surging in the country's 2019 federal elections. But growing anger over climate change has coincided with the disappearance of 500 glaciers. 

As a land-locked country, it is warming at twice the global rate, with the government saying that 90 percent of the remaining 1,500 glaciers will go by the end of the century if nothing is done to cut emissions.

Swiss banking has been targeted as part of a wider campaign by activists against big finance and its contribution to climate change. According to a 2019 report from the US environmental organization Rainforest Action Network, 33 banks alone have invested an estimated $1.9 trillion in fossil fuels since 2016.

Credit Suisse said in December that it would stop financing the development of new coal-fired power plants. 

According to the United Nations Environmental Programme (EFEP) finance initiative, if climate change continues unabated, it could result in the equivalent loss of between 5 and 20 percent of the world's gross domestic product each year. The UN body also estimates that the transition to a low-carbon global economy will need a $60 trillion investment from now until 2050.

However, with energy, transport, buildings and water infrastructure – all profitable investment opportunities – producing more than 60 percent of current greenhouse gases, and the transition to green finance a painful one for many companies, Swiss financial institutions are likely to see more activists coming through their doors.