PARIS (AP) — France's government has unveiled a law to ban all production and exploration of oil and natural gas by 2040 on the country's mainland and overseas territories.

The move is largely symbolic, however, as France's oil and gas production represents just 1 percent of national consumption — the rest is imported.

Current drilling permits will not be renewed, according to the bill formally presented in a Cabinet meeting Wednesday. France currently has 63 oil and gas drilling projects on its territory.

The ban, which the government claims is a world first, is part of a larger plan to wean...