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ARTICLE · 23 AUGUST 2017

Australian Shareholders Push For Climate Change Risk Disclosure

Clyde & Co
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On 8 August 2017, shareholder proceedings were filed in Australia against the Commonwealth Bank alleging that the company failed to disclose its exposure to climate change risk in its 2016 Annual Report.

AustraliaCorporate/Commercial Law
Avryl Lattin
Avryl Lattin
Yvonne Lam
Yvonne Lam
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On 8 August 2017, shareholder proceedings were filed in Australia against the Commonwealth Bank alleging that the company failed to disclose its exposure to climate change risk in its 2016 Annual Report. The proceedings are the latest in a series of efforts by shareholders to hold the company to account for the climate change risks it assumes. If successful, this may raise the standard for adequate disclosure for climate-related financial risk.

Shareholders demand to know more about climate change risks

The boards of publicly-listed Australian companies are facing increasing pressure to take climate change risks into account, and to disclose their risk assessment in financial reporting.

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