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Shareholder activism

In Australia, the Commonwealth Bank spent quite a bit of time in the headlines this week. There was one news story however that got lost amongst the other big stories. This week, proceedings were filed in the Federal Court of Australia on behalf of two Commonwealth Bank shareholders. The shareholders allege that the bank has failed to adequately disclose climate change risk in its 2016 annual report. They are also seeking an injunction to prevent these omissions in future ann

Follow the money

Back in 2009, the G20 formed the Financial Stability Board (FSB) as the successor to the Financial Stability Forum. The FSB has a critical role in the reform of international financial regulation. At the G20 meeting in 2015, the FSB were asked to start to consider climate risk. The major economies that make up the G20 have a vested interest in ensuring financial systems are resilient to risks that may materialise in the future. In the years preceding the 2015 G20 meeting, the