Australian bank sued over failure to disclose climate risks

<!DOCTYPE html> <html lang="en"> <head> <meta charset="utf-8"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="viewport" content="width=device-width, initial-scale=1 maximum-scale=1, user-scalable=0"> <title>Australian bank sued over failure to disclose climate risks</title> <link rel="icon" type="image/png" href="https://www.climatechangenews.com/wp-content/themes/ccn/assets/img/favicon.png" /> <link href="https://www.climatechangenews.com/wp-content/themes/ccn/assets/css/base.css?ver=1.0.2" rel="stylesheet"> <link href="https://www.climatechangenews.com/wp-content/themes/ccn/assets/css/style.css?ver=1.0.5" rel="stylesheet"> <link rel='stylesheet' href='https://fonts.googleapis.com/css?family=Noto+Sans%3A400italic%2C700italic%2C400%2C700%7CNoto+Serif%3A400italic%2C700italic%2C400%2C700%7CInconsolata%3A400%2C700&subset=latin%2Clatin-ext' type='text/css' media='all' /> <link rel='stylesheet' href='https://maxcdn.bootstrapcdn.com/font-awesome/4.7.0/css/font-awesome.min.css'> <link rel="stylesheet" type="text/css" href="//cdn.jsdelivr.net/npm/slick-carousel@1.8.1/slick/slick.css"/> <meta name='robots' content='index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1' /> <script type="text/javascript" id="wpp-js" src="https://www.climatechangenews.com/wp-content/plugins/wordpress-popular-posts/assets/js/wpp.min.js?ver=7.1.0" data-sampling="1" data-sampling-rate="10" data-api-url="https://www.climatechangenews.com/wp-json/wordpress-popular-posts" data-post-id="34536" data-token="7b419dde9c" data-lang="0" data-debug="0"></script>  <meta name="description" content="Shareholders are taking the Commonwealth Bank to court, alleging that it is misleading investors about its financial position" /> <link rel="canonical" href="https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/" /> <meta property="og:locale" content="en_GB" /> <meta property="og:type" content="article" /> <meta property="og:title" content="Australian bank sued over failure to disclose climate risks" /> <meta property="og:description" content="Shareholders are taking the Commonwealth Bank to court, alleging that it is misleading investors about its financial position" /> <meta property="og:url" content="https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/" /> <meta property="og:site_name" content="Climate Home News" /> <meta property="article:publisher" content="https://www.facebook.com/ClimateHomeNews/" /> <meta property="article:published_time" content="2017-08-08T01:00:57+00:00" /> <meta property="article:modified_time" content="2017-08-08T09:41:18+00:00" /> <meta property="og:image" content="https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg" /> <meta property="og:image:width" content="800" /> <meta property="og:image:height" content="450" /> <meta property="og:image:type" content="image/jpeg" /> <meta name="author" content="Megan Darby" /> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:creator" content="@climatemegan" /> <meta name="twitter:site" content="@ClimateHome" /> <meta name="twitter:label1" content="Written by" /> <meta name="twitter:data1" content="Megan Darby" /> <meta name="twitter:label2" content="Estimated reading time" /> <meta name="twitter:data2" content="3 minutes" /> <script type="application/ld+json" class="yoast-schema-graph">{"@context":"https://schema.org","@graph":[{"@type":"Article","@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#article","isPartOf":{"@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/"},"author":[{"@id":"https://www.climatechangenews.com/#/schema/person/8d5e91de65d6588da32864acbca918c6"}],"headline":"Australian bank sued over failure to disclose climate risks","datePublished":"2017-08-08T01:00:57+00:00","dateModified":"2017-08-08T09:41:18+00:00","mainEntityOfPage":{"@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/"},"wordCount":590,"publisher":{"@id":"https://www.climatechangenews.com/#organization"},"image":{"@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#primaryimage"},"thumbnailUrl":"https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg","keywords":["Australia"],"articleSection":["Carbon bubble","Climate finance","Divestment","Pacific"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/","url":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/","name":"Australian bank sued over failure to disclose climate risks","isPartOf":{"@id":"https://www.climatechangenews.com/#website"},"primaryImageOfPage":{"@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#primaryimage"},"image":{"@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#primaryimage"},"thumbnailUrl":"https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg","datePublished":"2017-08-08T01:00:57+00:00","dateModified":"2017-08-08T09:41:18+00:00","description":"Shareholders are taking the Commonwealth Bank to court, alleging that it is misleading investors about its financial position","breadcrumb":{"@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#primaryimage","url":"https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg","contentUrl":"https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg","width":800,"height":450,"caption":"Commonwealth Bank has the most polluting portfolio of the\"big four\" in Australia (Pic: Wikimedia Commons/Bidgee)"},{"@type":"BreadcrumbList","@id":"https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://www.climatechangenews.com/"},{"@type":"ListItem","position":2,"name":"Australian bank sued over failure to disclose climate risks"}]},{"@type":"WebSite","@id":"https://www.climatechangenews.com/#website","url":"https://www.climatechangenews.com/","name":"Climate Home News","description":"Climate change news, analysis, commentary, video and podcasts focused on developments in global climate politics","publisher":{"@id":"https://www.climatechangenews.com/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://www.climatechangenews.com/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https://www.climatechangenews.com/#organization","name":"Climate Home News","url":"https://www.climatechangenews.com/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https://www.climatechangenews.com/#/schema/logo/image/","url":"https://cdn.climatechangenews.com/files/2024/01/03155729/Climate-Home-News-Logo-RGB-Colour.png","contentUrl":"https://cdn.climatechangenews.com/files/2024/01/03155729/Climate-Home-News-Logo-RGB-Colour.png","width":2856,"height":862,"caption":"Climate Home News"},"image":{"@id":"https://www.climatechangenews.com/#/schema/logo/image/"},"sameAs":["https://www.facebook.com/ClimateHomeNews/","https://x.com/ClimateHome","https://www.linkedin.com/company/climate-home-news","https://www.youtube.com/user/climatestudio"]},{"@type":"Person","@id":"https://www.climatechangenews.com/#/schema/person/8d5e91de65d6588da32864acbca918c6","name":"Megan Darby","description":"Megan Darby is the editor of Climate Home News. She previously wrote about UK energy and water industries for leading sector publication Utility Week. She holds a Mathematics degree from Newcastle University.","sameAs":["http://www.climatechangenews.com/author/megan-darby","https://x.com/climatemegan"],"url":"https://www.climatechangenews.com/author/megan-darby/"}]}</script>  <link rel='dns-prefetch' href='//www.googletagmanager.com' /> <link rel='stylesheet' id='sbi_styles-css' href='https://www.climatechangenews.com/wp-content/plugins/instagram-feed/css/sbi-styles.min.css?ver=6.6.1' type='text/css' media='all' /> <link rel='stylesheet' id='wp-block-library-css' href='https://www.climatechangenews.com/wp-includes/css/dist/block-library/style.min.css?ver=6.6.2' type='text/css' media='all' /> <link rel='stylesheet' id='liveblog24_live_blogging_tool-cgb-style-css-css' href='https://www.climatechangenews.com/wp-content/plugins/24liveblog/dist/blocks.style.build.css' type='text/css' media='all' /> <style id='co-authors-plus-coauthors-style-inline-css' type='text/css'> .wp-block-co-authors-plus-coauthors.is-layout-flow [class*=wp-block-co-authors-plus]{display:inline} </style> <style id='co-authors-plus-avatar-style-inline-css' type='text/css'> .wp-block-co-authors-plus-avatar :where(img){height:auto;max-width:100%;vertical-align:bottom}.wp-block-co-authors-plus-coauthors.is-layout-flow .wp-block-co-authors-plus-avatar :where(img){vertical-align:middle}.wp-block-co-authors-plus-avatar:is(.alignleft,.alignright){display:table}.wp-block-co-authors-plus-avatar.aligncenter{display:table;margin-inline:auto} </style> <style id='co-authors-plus-image-style-inline-css' type='text/css'> .wp-block-co-authors-plus-image{margin-bottom:0}.wp-block-co-authors-plus-image :where(img){height:auto;max-width:100%;vertical-align:bottom}.wp-block-co-authors-plus-coauthors.is-layout-flow .wp-block-co-authors-plus-image :where(img){vertical-align:middle}.wp-block-co-authors-plus-image:is(.alignfull,.alignwide) :where(img){width:100%}.wp-block-co-authors-plus-image:is(.alignleft,.alignright){display:table}.wp-block-co-authors-plus-image.aligncenter{display:table;margin-inline:auto} </style> <style id='classic-theme-styles-inline-css' type='text/css'> /*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} </style> <style id='global-styles-inline-css' type='text/css'> :root{--wp--preset--aspect-ratio--square: 1;--wp--preset--aspect-ratio--4-3: 4/3;--wp--preset--aspect-ratio--3-4: 3/4;--wp--preset--aspect-ratio--3-2: 3/2;--wp--preset--aspect-ratio--2-3: 2/3;--wp--preset--aspect-ratio--16-9: 16/9;--wp--preset--aspect-ratio--9-16: 9/16;--wp--preset--color--black: #000000;--wp--preset--color--cyan-bluish-gray: #abb8c3;--wp--preset--color--white: #ffffff;--wp--preset--color--pale-pink: #f78da7;--wp--preset--color--vivid-red: #cf2e2e;--wp--preset--color--luminous-vivid-orange: #ff6900;--wp--preset--color--luminous-vivid-amber: #fcb900;--wp--preset--color--light-green-cyan: #7bdcb5;--wp--preset--color--vivid-green-cyan: #00d084;--wp--preset--color--pale-cyan-blue: #8ed1fc;--wp--preset--color--vivid-cyan-blue: #0693e3;--wp--preset--color--vivid-purple: #9b51e0;--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple: linear-gradient(135deg,rgba(6,147,227,1) 0%,rgb(155,81,224) 100%);--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan: linear-gradient(135deg,rgb(122,220,180) 0%,rgb(0,208,130) 100%);--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange: linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);--wp--preset--gradient--luminous-vivid-orange-to-vivid-red: linear-gradient(135deg,rgba(255,105,0,1) 0%,rgb(207,46,46) 100%);--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray: linear-gradient(135deg,rgb(238,238,238) 0%,rgb(169,184,195) 100%);--wp--preset--gradient--cool-to-warm-spectrum: linear-gradient(135deg,rgb(74,234,220) 0%,rgb(151,120,209) 20%,rgb(207,42,186) 40%,rgb(238,44,130) 60%,rgb(251,105,98) 80%,rgb(254,248,76) 100%);--wp--preset--gradient--blush-light-purple: linear-gradient(135deg,rgb(255,206,236) 0%,rgb(152,150,240) 100%);--wp--preset--gradient--blush-bordeaux: linear-gradient(135deg,rgb(254,205,165) 0%,rgb(254,45,45) 50%,rgb(107,0,62) 100%);--wp--preset--gradient--luminous-dusk: linear-gradient(135deg,rgb(255,203,112) 0%,rgb(199,81,192) 50%,rgb(65,88,208) 100%);--wp--preset--gradient--pale-ocean: linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 50%,rgb(51,167,181) 100%);--wp--preset--gradient--electric-grass: linear-gradient(135deg,rgb(202,248,128) 0%,rgb(113,206,126) 100%);--wp--preset--gradient--midnight: linear-gradient(135deg,rgb(2,3,129) 0%,rgb(40,116,252) 100%);--wp--preset--font-size--small: 13px;--wp--preset--font-size--medium: 20px;--wp--preset--font-size--large: 36px;--wp--preset--font-size--x-large: 42px;--wp--preset--spacing--20: 0.44rem;--wp--preset--spacing--30: 0.67rem;--wp--preset--spacing--40: 1rem;--wp--preset--spacing--50: 1.5rem;--wp--preset--spacing--60: 2.25rem;--wp--preset--spacing--70: 3.38rem;--wp--preset--spacing--80: 5.06rem;--wp--preset--shadow--natural: 6px 6px 9px rgba(0, 0, 0, 0.2);--wp--preset--shadow--deep: 12px 12px 50px rgba(0, 0, 0, 0.4);--wp--preset--shadow--sharp: 6px 6px 0px rgba(0, 0, 0, 0.2);--wp--preset--shadow--outlined: 6px 6px 0px -3px rgba(255, 255, 255, 1), 6px 6px rgba(0, 0, 0, 1);--wp--preset--shadow--crisp: 6px 6px 0px rgba(0, 0, 0, 1);}:where(.is-layout-flex){gap: 0.5em;}:where(.is-layout-grid){gap: 0.5em;}body .is-layout-flex{display: flex;}.is-layout-flex{flex-wrap: wrap;align-items: center;}.is-layout-flex > :is(*, div){margin: 0;}body .is-layout-grid{display: grid;}.is-layout-grid > :is(*, div){margin: 0;}:where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;}:where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;}.has-black-color{color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-color{color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-color{color: var(--wp--preset--color--white) !important;}.has-pale-pink-color{color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-color{color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-color{color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-color{color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-color{color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-color{color: var(--wp--preset--color--vivid-purple) !important;}.has-black-background-color{background-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-background-color{background-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-background-color{background-color: var(--wp--preset--color--white) !important;}.has-pale-pink-background-color{background-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-background-color{background-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color: var(--wp--preset--color--vivid-purple) !important;}.has-black-border-color{border-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-border-color{border-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-border-color{border-color: var(--wp--preset--color--white) !important;}.has-pale-pink-border-color{border-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-border-color{border-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color: var(--wp--preset--color--vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background: var(--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background: var(--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background: var(--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background: var(--wp--preset--gradient--cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background: var(--wp--preset--gradient--blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background: var(--wp--preset--gradient--blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background: var(--wp--preset--gradient--luminous-dusk) !important;}.has-pale-ocean-gradient-background{background: var(--wp--preset--gradient--pale-ocean) !important;}.has-electric-grass-gradient-background{background: var(--wp--preset--gradient--electric-grass) !important;}.has-midnight-gradient-background{background: var(--wp--preset--gradient--midnight) !important;}.has-small-font-size{font-size: var(--wp--preset--font-size--small) !important;}.has-medium-font-size{font-size: var(--wp--preset--font-size--medium) !important;}.has-large-font-size{font-size: var(--wp--preset--font-size--large) !important;}.has-x-large-font-size{font-size: var(--wp--preset--font-size--x-large) !important;} :where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;} :where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;} :root :where(.wp-block-pullquote){font-size: 1.5em;line-height: 1.6;} </style> <link rel='stylesheet' id='ppress-frontend-css' href='https://www.climatechangenews.com/wp-content/plugins/wp-user-avatar/assets/css/frontend.min.css?ver=4.15.19' type='text/css' media='all' /> <link rel='stylesheet' id='ppress-flatpickr-css' href='https://www.climatechangenews.com/wp-content/plugins/wp-user-avatar/assets/flatpickr/flatpickr.min.css?ver=4.15.19' type='text/css' media='all' /> <link rel='stylesheet' id='ppress-select2-css' href='https://www.climatechangenews.com/wp-content/plugins/wp-user-avatar/assets/select2/select2.min.css?ver=6.6.2' type='text/css' media='all' /> <link rel='stylesheet' id='cmplz-general-css' href='https://www.climatechangenews.com/wp-content/plugins/complianz-gdpr/assets/css/cookieblocker.min.css?ver=1731606467' type='text/css' media='all' /> <script type="text/javascript" src="https://www.climatechangenews.com/wp-includes/js/jquery/jquery.min.js?ver=3.7.1" id="jquery-core-js"></script> <script type="text/javascript" src="https://www.climatechangenews.com/wp-includes/js/jquery/jquery-migrate.min.js?ver=3.4.1" id="jquery-migrate-js"></script> <script type="text/javascript" src="https://www.climatechangenews.com/wp-content/plugins/wp-user-avatar/assets/flatpickr/flatpickr.min.js?ver=4.15.19" id="ppress-flatpickr-js"></script> <script type="text/javascript" src="https://www.climatechangenews.com/wp-content/plugins/wp-user-avatar/assets/select2/select2.min.js?ver=4.15.19" id="ppress-select2-js"></script> <link rel="https://api.w.org/" href="https://www.climatechangenews.com/wp-json/" /><link rel="alternate" title="JSON" type="application/json" href="https://www.climatechangenews.com/wp-json/wp/v2/posts/34536" /><link rel='shortlink' href='https://www.climatechangenews.com/?p=34536' /> <link rel="alternate" title="oEmbed (JSON)" type="application/json+oembed" href="https://www.climatechangenews.com/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.climatechangenews.com%2F2017%2F08%2F08%2Fcommonwealth-bank-sued-over-failure-to-disclose-climate-risks%2F" /> <link rel="alternate" title="oEmbed (XML)" type="text/xml+oembed" href="https://www.climatechangenews.com/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.climatechangenews.com%2F2017%2F08%2F08%2Fcommonwealth-bank-sued-over-failure-to-disclose-climate-risks%2F&format=xml" /> <meta name="generator" content="Site Kit by Google 1.140.0" /> <style>.cmplz-hidden { display: none !important; }</style> <style id="wpp-loading-animation-styles">@-webkit-keyframes bgslide{from{background-position-x:0}to{background-position-x:-200%}}@keyframes bgslide{from{background-position-x:0}to{background-position-x:-200%}}.wpp-widget-block-placeholder,.wpp-shortcode-placeholder{margin:0 auto;width:60px;height:3px;background:#dd3737;background:linear-gradient(90deg,#dd3737 0%,#571313 10%,#dd3737 100%);background-size:200% auto;border-radius:3px;-webkit-animation:bgslide 1s infinite linear;animation:bgslide 1s infinite linear}</style>  <script type="text/javascript"> /* <![CDATA[ */ ( function( w, d, s, l, i ) { w[l] = w[l] || []; w[l].push( {'gtm.start': new Date().getTime(), event: 'gtm.js'} ); var f = d.getElementsByTagName( s )[0], j = d.createElement( s ), dl = l != 'dataLayer' ? '&l=' + l : ''; j.async = true; j.src = 'https://www.googletagmanager.com/gtm.js?id=' + i + dl; f.parentNode.insertBefore( j, f ); } )( window, document, 'script', 'dataLayer', 'GTM-55LR53Q' ); /* ]]> */ </script>  <script src="https://ajax.googleapis.com/ajax/libs/jquery/1.11.3/jquery.min.js"></script> <script src="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.7/js/bootstrap.min.js"></script> <script data-schema="Organization" type="application/ld+json"> {"name":"Climate Home","alternateName":"Climate Change News","url":"https://www.climatechangenews.com/","logo":"https://www.climatechangenews.com/wp-content/themes/ccn/assets/img/climate-home-logo.gif","sameAs":["https://www.facebook.com/ClimateHomeNews","https://twitter.com/ClimateHome","https://www.youtube.com/user/climatestudio","https://www.linkedin.com/company/climate-home-news"],"@type":"Organization","@context":"http://schema.org"} </script>  <script type="text/plain" data-service="google-analytics" data-category="statistics" async data-cmplz-src="https://www.googletagmanager.com/gtag/js?id=UA-60139435-1"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-60139435-1'); </script>    <style> /* #politics, #world, #energy, #finance, #cities, #technology, #science, #opinion {margin-top: 10px;} .frame-1 h1{float:left; margin-right: 20px;} .frame-1 .btn-sub-nav{display:block;float:left;margin:8px 10px 0 0;} @media (max-width: 991px) { .frame-1 .btn-sub-nav{display:none;} }*/ /* .social-icons>a, .social-icons>a:hover, .social-icons>a:focus{width: 34px;height: 32px;padding: 7px 8px 3px;margin: 0 10px 0 0;text-decoration:none;color:white;} .social-icons>a.facebook {background:#3b579d;} .social-icons>a.twitter {background:#2caae1;} .social-icons>a.google-plus {background:#dd5044;} .social-icons>a.rss {background:#f17f31;} .social-icons>a.linkedin {background:#0077b5;} .social-icons>a.youtube {background:#c8302a;} */ .frame-popular .block-3 {padding-left:40px;} .social-icons>a.soundcloud {background:#ff6a22;} .subscribe {background:#1d2f49;min-height:1px;overflow:hidden; padding: 0 20px 20px; width: 340px; text-align: left;} .subscribe .btn{background-color: #f29100;border-color: rgba(255,255,255,.3);} .subscribe .btn:hover,.subscribe .btn:focus{background-color: rgba(255,255,255,.5);} .subscribe p{color:white;} #subscribe{background-color: rgba(0, 0, 0, .7);z-index: 99999;} #subscribe .modal-content{background:#0e75ec;} .subscribe-1 {background:#fff; padding:20px 20px; } .subscribe-1 img{margin-left:50px;} .subscribe-2 {padding: 20px 20px; } .subscribe-2 .btn{background-color: rgba(255,255,255,.3);} .subscribe-2 .btn:hover,.subscribe-2 .btn:focus{background-color: rgba(255,255,255,.5);} .subscribe-2 p{color:white;} .subscribe-2 .btn-subscribe{color:white;} #bottom-nav .navbar-form .form-control{border:none;background-color:#1d2f49;} #bottom-nav .navbar-form .btn-default{border-color:#1b2c45;background-color:#1d2f49;} #latest h1, #politics h1, #world h1, #energy h1, #finance h1, #cities h1, #technology h1, #science h1, #opinion h1, #transport h1 {display: none!important;} #latest h2 span, #latest h2 span a {color:#f29100;} #search h1{margin-top:15px; font-size: 2em;} /* Change */ #bottom-nav{height: 50px;border-bottom: 0px;} #sections>li>a {opacity: 1;} #sections>li.active>a.home,#sections>li>a.home:hover, #sections>li.active>a.politics,#sections>li>a.politics:hover, #sections>li.active>a.world,#sections>li>a.world:hover, #sections>li.active>a.energy,#sections>li>a.energy:hover, #sections>li.active>a.finance,#sections>li>a.finance:hover, #sections>li.active>a.cities,#sections>li>a.cities:hover, #sections>li.active>a.technology,#sections>li>a.technology:hover, #sections>li.active>a.science,#sections>li>a.science:hover, #sections>li.active>a.transport,#sections>li>a.transport:hover, #sections>li.active>a.comment,#sections>li>a.comment:hover, #sections>li.active>a.sponsored,#sections>li>a.sponsored:hover, #sections>li.active>a.opinion,#sections>li>a.opinion:hover{border-bottom:none;background:lightgray;color:#293a52;} #sections>li>a.netzero{border-bottom:none;background:#293a52;color:white;} #sections>li.active>a.netzero,#sections>li>a.netzero:hover{color:lightgray} #sections>li.active>a.newsletters,#sections>li>a.newsletters:hover<{background-color:lightgray;color:#293a52} #sections>li>a.newsletters{border-bottom:none;background:#FFA500;color:white;} #cities, #energy, #finance, #opinion, #politics, #science, #technology, #world {margin-top: 0px;} /* End change */ #bottom-subnav{background:lightgray;} #bottom-subnav ul {padding:0; margin:0;} #bottom-subnav li {float:left;} #bottom-subnav li a{font-size: .9em; font-weight: bold; padding:7px 15px} #bottom-subnav ul.nav li:hover, #bottom-subnav ul.nav li:focus, #bottom-subnav ul li.active{background:#fff;} /* For COP21 only */ @media (min-width: 992px){ .frame-1 .item-11, .frame-1 .item-12, .frame-1 .item-13, .frame-1 .item-14, .frame-1 .item-15{ margin-top: 15px; padding-left: 10px; padding-right: 10px; } .border-between>.row>.item-11:before, .border-between>.row>.item-12:before, .border-between>.row>.item-13:before, .border-between>.row>.item-14:before, .border-between>.row>.item-15:before { background: #fff; } } /* Single*/ .single #post .sidebar {display:block;} .single #post .sidebar .ads, .single #post .sidebar .media-award, .single #post .sidebar .twitter {display:none;} @media (min-width: 992px){ .single #post .sidebar .ads, .single #post .sidebar .media-award, .single #post .sidebar .twitter {display:block;} } /* Post img max 100%*/ #post article img { max-width: 100% !important; height: auto; } /* Post img max 100%*/ @media (max-width: 992px){ #post .news {overflow: hidden;} } /* Tips on Home Page */ .tips{background:#951c55;color:white;font-size:0.8em;min-height:1px;overflow:hidden;margin-bottom:15px;padding:15px 10px;} .tips i{width: 34px;height: 32px;border: 1px solid #7d1c55;background:#7d1c55;border-radius: 2px;padding: 5px 7px;} .tips a, .tips a:hover, .tips a:focus, .tips a:target, .tips a:visited, .tips a:active {color:white;} /* Footer */ footer {margin-top:20px; border-top: 3px solid #1d2f49;background-color: #293a52;color:white;} /*********************************** Frame 6 ***********************************/ .frame-6 {} /* h2 */ .frame-6 h2{font-size:1em; line-height: 1.2em; letter-spacing: -0.5px; word-spacing: 2px;margin-top:0;margin-bottom:5px;} @media (min-width: 992px) { .frame-6 h2{font-size:1.1em;} .frame-6 .item-1 h2, .frame-6 .item-2 h2, .frame-6 .item-3 h2, .frame-6 .item-4 h2{font-size:.9em;} } /* p */ .frame-6 p{font-size:.9em; display:none !important;} @media (min-width: 786px) { .frame-6 p{display:block !important;} } @media (min-width: 992px) { .frame-6 .item-1 p,.frame-6 .item-2 p,.frame-6 .item-3 p,.frame-6 .item-4 p{display:none !important;} } /* items */ .frame-6 .block-img {width: 100%;float: left; padding: 0 10px;} @media (min-width: 992px) { .frame-6 .item-1 {width: 100%;}.frame-6 .item-1 .media{min-height:95px;} .frame-6 .item-2 {width: 100%;margin-top: 15px;}.frame-6 .item-2 .media{min-height:95px;} .frame-6 .item-3 {width: 100%;margin-top: 15px;}.frame-6 .item-3 .media{min-height:95px;} .frame-6 .item-4 {width: 100%;margin-top: 15px;}.frame-6 .item-4 .media{min-height:95px;} /* block */ .frame-6 .block-img {width: 75%;} .frame-6 .block-1 {width: 25%; min-height:425px; float:left;} } @media (min-width: 1200px) { .frame-6 .item-1 {width: 100%;} .frame-6 .item-2 {width: 100%;margin-top: 15px;} .frame-6 .item-3 {width: 100%;margin-top: 15px;} .frame-6 .item-4 {width: 100%;margin-top: 15px;} /* block */ .frame-6 .block-img {width: 60%;} .frame-6 .block-1 {width: 40%;} } /* media */ .frame-6 .media {margin-top:15px;} @media (min-width: 992px) { .frame-6 .media {margin-top:0px;} } /* media-img */ .frame-6 .media-img{display:table-cell;vertical-align:top;padding-right:5px;} @media (min-width: 992px) { .frame-6 .item-1 .media-img, .frame-6 .item-2 .media-img, .frame-6 .item-3 .media-img, .frame-6 .item-4 .media-img{display:none;} } @media (min-width: 1200px) { .frame-6 .item-1 .media-img, .frame-6 .item-2 .media-img, .frame-6 .item-3 .media-img, .frame-6 .item-4 .media-img{display:table-cell;vertical-align:top;padding-right:5px;} } /* img */ .frame-6 .item-1 img,.frame-6 .item-3 img, .frame-6 .item-2 img,.frame-6 .item-4 img {width:140px;height:80px;} @media (min-width: 992px) { .frame-6 .item-1 img,.frame-6 .item-3 img, .frame-6 .item-2 img,.frame-6 .item-4 img{width:140px;height:80px;} } /* media-body */ .frame-6 .media-body {padding:0px 5px;} @media (min-width: 992px) { .frame-6 .media-body {padding:10px 5px 0;} } /* border-between */ @media (min-width: 992px) { .frame-6 .row>.block-1:before{background: #dfdfdf; bottom: 0; content: " "; left: 0; position: absolute; width: 1px; top: 0;} } /* Content & row*/ .frame-6 .content{width: 100%;} @media (min-width: 1200px) { .frame-6 .content{width: 940px;float: left;} } .frame-6 .row{margin-top: 0;} @media (min-width: 992px) { .frame-6 .row{margin-top: 15px;} } /* Border in between */ @media (min-width: 992px) { .frame-6>.row>[class*='item-']:before{background: #dfdfdf;content: " "; position: absolute; width: 1px; top: 0;bottom: 0;left: 0;} .frame-6>.row>.item-1:before{display:none;} } /* Excerpt & Author*/ .excerpt span,.excerpt span a,.excerpt span a:hover{color:#f29100;} article .news-excerpt{font-weight:bold;color:#808080;} .news-author{margin-bottom:0px; font-weight: bold;}.news-author span{font-weight:bold;} .news-content{max-width:100%;} .news-shares-right{max-width:50px; float:right; margin-top:-30px;} @media (min-width: 768px) { .news-content{max-width:600px;float:left;} } @media (min-width: 1200px) { .news-content{max-width:680px;} } /* To replace in style.css */ .navbar-inverse .navbar-nav>li>a { border-top: none; border-bottom: 1px solid #293a52; } @media (min-width: 992px){ #social-icons>li>a {margin: 34px 0 0 10px;} } #upper-nav {background: #1d2f49;} #upper-nav .navbar-nav>li>a { padding-top: 5px; padding-bottom: 5px; font-size: 14px; color: #999; } #logo { width: 400px !important; height: 70px !important; } .sidebar .home-colour .media{ background-color: transparent; } /* Newsletter subscribe */ #subscribe .modal-content { background: #fff; } #subscribe .modal-content .subscribe-2{ background: #1d2f49; } #subscribe .modal-content .subscribe-2 .btn-subscribe{ background: #f29100; } #subscribe .modal-content button i.fa-times:before{ color: white; } /* Top nav dropdown */ #upper-nav li.dropdown ul.dropdown-menu{ font-size: 14px; background: lightgray; } /* bug fix for archive pages border-between */ @media (min-width: 992px) { .frame-search .row>.item-1:before{background: #fff;} .frame-search .row>.item-2:before{background: #dfdfdf;} } /* Branding on the banner */ a#CybotCookiebotDialogPoweredbyCybot, div#CybotCookiebotDialogPoweredByText { display: none; } a#CybotCookiebotDialogPoweredbyCybot, div#CybotCookiebotDialogPoweredbyImage { display: none; } /* Branding on the widget */ #CookiebotWidget .CookiebotWidget-body .CookiebotWidget-main-logo { display: none; } </style></head> <body data-cmplz=1 class="post-template-default single single-post postid-34536 single-format-standard"> <header id="nav" class="hidden-print">  <div id="upper-nav" class="hidden-xs hidden-sm"> <div class="container"> <ul class="nav navbar-nav"> <li class="dropdown"> <a href="/about-us/">About us <b class="caret"></b></a> <ul class="dropdown-menu"> <li><a href="/mission-vision-and-values/">Mission, vision and values</a></li> <li><a href="/the-team/">The team</a></li> <li><a href="/about-us/advisory-board/">Advisory board</a></li> <li><a href="/supporters/">Supporters</a></li> <li><a href="/about-us/anonymous-sources-leaks/">Anonymous sources policy</a></li> </ul> </li> <li class="dropdown"> <a href="/contact-us/">Contact us <b class="caret"></b></a> <ul class="dropdown-menu"> <li><a href="/write-for-us/">Write for us</a></li> <li><a href="/sponsorship-and-advertising/">Partner with us</a></li> <li><a href="/about-us/making-a-complaint/">Make a complaint</a></li> </ul> </li>  </ul> </div> </div>  <div id="top-nav"> <div class="container"> <nav class="navbar navbar-inverse">  <div class="navbar-header"> <a href="/"> <img class="hidden-xs" src="https://www.climatechangenews.com/wp-content/themes/ccn/assets/img/climate-home-news-logo.svg" alt="Climate Home Logo" id="logo" itemprop="logo"/> <img class="visible-xs" src="https://www.climatechangenews.com/wp-content/themes/ccn/assets/img/climate-home-news-mobile-logo.svg" alt="Climate Home Logo" id="logo" style="width: 244px !important; height: 55px !important; float: left !important;"/> </a> <button type="button" class="navbar-toggle collapsed" data-toggle="collapse" data-target="#main-navbar-collapse" aria-expanded="false"> <i class="icon-align-justify"></i> <span class="hidden-xs">Menu</span> </button> </div>  <div class="collapse navbar-collapse" id="main-navbar-collapse"> <div class="visible-xs visible-sm"> <form class="margin-top-10" method="get" action="https://www.climatechangenews.com/"> <div class="input-group"> <input type="text" name="s" class="form-control" placeholder="Search"> <span class="input-group-btn"> <button class="btn btn-default" type="submit"><i class="icon-search"></i></button> </span> </div> </form> <ul class="nav navbar-nav"> <li><a href="/" class="home">Home</a></li> <li><a href="/news/" class="politics">News</a></li> <li><a href="/comment/" class="finance">Comment</a></li> <li><a href="/sponsored-content/" class="sponsored">Sponsored</a></li> <li><a href="/subscribe/" class="newsletters">Newsletters</a></li> <li><a href="https://cleanenergyfrontier.climatechangenews.com/?utm_source=chn&utm_medium=menu&utm_campaign=cef_leads" class="sponsored" target="_blank" rel="noopener noreferrer">Clean Energy Frontier</a></li> </ul> </div> <div class="visible-xs visible-sm clearfix"></div> <ul class="nav navbar-nav navbar-right" id="social-icons"> <li><a href="https://www.instagram.com/ClimateHomeNews" target="_blank"><i class="fa fa-instagram" style="position: absolute;padding-top: 1.5px;padding-left: 1.3px;"></i></a></li> <li><a href="https://www.facebook.com/ClimateHomeNews" target="_blank"><i class="icon-facebook"></i></a></li> <li><a href="https://twitter.com/ClimateHome" target="_blank"><i class="icon-twitter"></i></a></li> <li><a href="https://www.linkedin.com/company/climate-home-news" target="_blank"><i class="icon-linkedin"></i></a></li> <li><a href="http://feeds.feedburner.com/ClimateHome" target="_blank"><i class="icon-rss"></i></a></li>  </ul> </div> </nav> </div> </div>  <div id="bottom-nav" class="hidden-xs hidden-sm"> <div class="container"> <ul class="nav navbar-nav hidden-sm" id="sections"> <li ><a href="/" class="home">Home</a></li> <li class="active"><a href="/news/" class="politics">News</a></li> <li ><a href="/comment/" class="comment">Comment</a></li> <li ><a href="/sponsored-content/" class="sponsored">Sponsored</a></li> <li ><a href="/subscribe/" class="newsletters">Newsletters</a></li> <li ><a href="https://cleanenergyfrontier.climatechangenews.com/?utm_source=chn&utm_medium=menu&utm_campaign=cef_leads" class="sponsored" target="_blank" rel="noopener noreferrer">Clean Energy Frontier</a></li> </ul> <form class="navbar-form navbar-right visible-lg visible-md" method="get" action="https://www.climatechangenews.com/"> <div class="input-group"> <input type="text" name="s" class="form-control" placeholder="Search"> <span class="input-group-btn"> <button class="btn btn-default" type="submit"><i class="icon-search"></i></button> </span> </div> </form> </div> </div> <div class="clearfix"></div> <div id="bottom-subnav" class="hidden-xs hidden-sm"> <div class="container"> <ul class="nav"> <li style="color: #1D2F49;"><a href="/politics/">Politics</a></li> <li class="active" style="color: #1D2F49;"><a href="/finance/">Finance</a></li> <li style="color: #1D2F49;"><a href="/climate-justice/">Justice</a></li> <li style="color: #1D2F49;"><a href="/energy/">Energy</a></li> <li style="color: #1D2F49;"><a href="/land/">Land</a></li> <li style="color: #1D2F49;"><a href="/transport/">Transport</a></li> <li style="color: #1D2F49;"><a href="/science/">Science</a></li> </ul> </div> </div> <div class="clearfix"></div> </header> <section id="post"> <div class="container"> <div class="row"> <div class="news"> <article itemscope itemtype="http://schema.org/NewsArticle" role="main"> <meta itemprop="mainEntityOfPage" content="https://www.climatechangenews.com/2017/08/08/commonwealth-bank-sued-over-failure-to-disclose-climate-risks/"> <h1 itemprop="headline name" style="color: #1D2F49">Australian bank sued over failure to disclose climate risks </h1> <time class="news-date">Published on <span itemprop="datePublished" content="2017-08-08T02:00:57+01:00">08/08/2017, 2:00am</span></time> <meta itemprop="dateModified" content="2017-08-08T10:41:18+01:00"/> <p class="news-excerpt" itemprop="alternativeHeadline description"> Shareholders are taking the Commonwealth Bank to court, alleging that it is misleading investors about its financial position </p> <div class="wp-caption" itemscope itemtype="https://schema.org/ImageObject"> <img width="800" height="450" src="https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg" class="img-responsive wp-post-image" alt="" itemprop="image" decoding="async" fetchpriority="high" srcset="https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374.jpg 800w, https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374-112x63.jpg 112w, https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374-300x168.jpg 300w, https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374-768x432.jpg 768w, https://cdn.climatechangenews.com/files/2017/08/1024px-New_Commonwealth_Bank_branch_in_Wagga_Wagga_2-e1502123322374-600x337.jpg 600w" sizes="(max-width: 800px) 100vw, 800px" /> <p class="wp-caption-text" itemprop="caption">Commonwealth Bank has the most polluting portfolio of the"big four" in Australia (Pic: Wikimedia Commons/Bidgee)</p> </div> <p class="news-author">By <span itemprop="author"> <a href="https://www.climatechangenews.com/author/megan-darby/" title="Posts by Megan Darby" class="author url fn" rel="author">Megan Darby</a> </span> </p> <div class="news-content" itemprop="articleBody"><p><strong>An Australian couple filed a climate lawsuit against one of the country’s “big four” banks on Tuesday, in a test case with international implications.</strong></p> <p>Shareholders Guy and Kim Abrahams allege the Commonwealth Bank of Australia failed to disclose risks it faces that relate to climate change.</p> <p>Represented by law firm Environmental Justice Australia, they will argue in the federal court that the bank’s <a href="https://www.commbank.com.au/about-us/shareholders/shareholder-information/annual-reports.html" target="_blank">2016 directors’ report</a> withheld material information. If successful, the <a href="http://envirojustice.org.au/sites/default/files/files/170807%20Concise%20Statement%20(as%20filed).pdf" target="_blank">claim</a> would force the bank to provide more detailed climate risk analysis.</p> <p>“We bought Commonwealth Bank shares more than 20 years ago as an investment in our children’s future,” said Guy Abrahams, art consultant and co-founder of non-profit <a href="https://climarte.org/" target="_blank">Climarte</a>, in a statement.</p> <p>“We are deeply concerned about the serious risks that climate change poses to the environment and society. The bank should tell investors about the risks climate change will have on its business.”</p> <p>His wife Kim, a medical practitioner, added: “The Commonwealth Bank is Australia’s biggest company and should be a leader in responding to climate change and accurately reporting the risks to shareholders.”</p> <div id="attachment_34541" style="width: 810px" class="wp-caption aligncenter"><img decoding="async" aria-describedby="caption-attachment-34541" class="wp-image-34541 size-full" src="https://www.climatechangenews.com/files/2017/08/Guy-and-Kim-2-e1502179805283.jpg" width="800" height="450" srcset="https://cdn.climatechangenews.com/files/2017/08/Guy-and-Kim-2-e1502179805283.jpg 800w, https://cdn.climatechangenews.com/files/2017/08/Guy-and-Kim-2-e1502179805283-112x63.jpg 112w, https://cdn.climatechangenews.com/files/2017/08/Guy-and-Kim-2-e1502179805283-300x168.jpg 300w, https://cdn.climatechangenews.com/files/2017/08/Guy-and-Kim-2-e1502179805283-768x432.jpg 768w, https://cdn.climatechangenews.com/files/2017/08/Guy-and-Kim-2-e1502179805283-600x337.jpg 600w" sizes="(max-width: 800px) 100vw, 800px" /><p id="caption-attachment-34541" class="wp-caption-text">Guy and Kim Abrahams want Commonwealth Bank to take a lead on climate risk</p></div> <blockquote><p><a href="https://www.climatechangenews.com/2017/06/12/trump-lawyers-use-extraordinary-trick-quash-youth-climate-case/"><strong>Report: </strong>Trump lawyers try ‘extraordinary trick’ to quash youth climate case</a></p></blockquote> <p>The case reflects mounting concern about the potential impact on the financial sector of climate change and the transition to a clean economy.</p> <p>In particular, disruptive clean technology and climate policies are turning once blue-chip energy investments into a risky bet. A significant portion of listed coal, oil and gas assets are to be rendered worthless by the international effort to hold global warming below 2C.</p> <p>According to campaign group Market Forces, CommBank has <a href="https://www.marketforces.org.au/campaigns/banks-new/twodegrees/" target="_blank">loaned $6bn</a> to fossil fuel projects since world leaders agreed the Paris climate pact in December 2015. The investments have a lifetime carbon footprint of 2.8bn tonnes of CO2, the most polluting portfolio of Australia’s “big four”.</p> <p>In June, a heavyweight task force led by businessman and former New York mayor Michael Bloomberg issued <a href="https://www.fsb-tcfd.org/publications/" target="_blank">detailed guidelines</a> to corporations on measuring and reporting climate risk.</p> <p>While voluntary, the guidelines have been widely endorsed by climate campaigners, financial regulators and business leaders.</p> <blockquote><p><a href="https://www.climatechangenews.com/2017/05/31/exxon-shareholders-win-historic-vote-climate-transparency/"><strong>Report:</strong> Exxon shareholders win ‘historic’ climate vote against board’s advice</a></p></blockquote> <p>Geoff Summerhayes of Australian Prudential Regulatory Authority has said “climate risks will become an important and explicit part of our thinking”.</p> <p>This is not just an environmental concern for the future, he stressed: “Some climate risks are distinctly ‘financial’ in nature. Many of these risks are foreseeable, material and actionable now.”</p> <p>Called to <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;adv=yes;orderBy=customrank;page=0;query=%28%20Dataset%3Acommsen,commrep,commjnt,estimate,commbill%20%20SearchCategory_Phrase%3Acommittees%20%20%29%20Dataset_Phrase%3Acommrep%20Content%3Anarev;rec=1;resCount=Default" target="_blank">give evidence</a> to a parliamentary committee in March, CommBank chief executive Ian Narev could not say whether its portfolio was aligned with the 2C limit.</p> <p>In another <a href="https://www.commbank.com.au/guidance/newsroom/Commonwealth-Bank-comments-on-funding-for-fossil-fuel-projects-201706.html?ei=card-view" target="_blank">public statement</a>, the bank said it had not been approached to fund controversial coal mining ventures in Queensland’s Galilee Basin, but did not rule out involvement.</p> <p>Environmental Justice Australia lawyer David Barnden said the case would set “an important precedent” for other companies on climate risk disclosure.</p> <p>That could extend beyond Australia, added Daniel Wiseman, an Australian-qualified lawyer at London-based firm Client Earth. “Many other countries already have similar disclosure requirements to Australia.</p> <p>“In the UK, the Bank of England and other financial regulators have now made clear that financial institutions like banks and insurers must consider climate risk.</p> <p>“To limit exposure to this sort of litigation, business leaders need to get acquainted, and quickly, with their legal duties and with emerging industry standards.”</p> </div> <aside class="news-shares-right hidden-xs hidden-print"><a data-sumome-share-id="7c9b466f-d64c-4e0d-a90d-658506c8823a"></a></aside> <div class="clearfix"></div> <aside class="hidden-print"><a data-sumome-share-id="8d6c33b7-11c8-4932-a72e-fe8c4c04befd"></a></aside> <div class="clearfix"></div> <p class="news-section">Read more on: <a href="https://www.climatechangenews.com/category/finance/carbon-bubble/" rel="category tag">Carbon bubble</a> | <a href="https://www.climatechangenews.com/category/finance/" rel="category tag">Climate finance</a> | <a href="https://www.climatechangenews.com/category/finance/divestment/" rel="category tag">Divestment</a> | <a href="https://www.climatechangenews.com/category/world/pacific/" rel="category tag">Pacific</a> | <span itemprop="keywords"><a href="https://www.climatechangenews.com/tag/australia/" rel="tag">Australia</a></span> <span class="hidden" itemprop="articleSection">Carbon bubble</span></p> <div itemprop="publisher" itemscope itemtype="https://schema.org/Organization" class="hidden"> <a href="https://www.climatechangenews.com/" itemprop="sameAs"><span itemprop="name">Climate Home</span></a> </div> </article> <div class="separator"></div>  </div> <aside class="sidebar">  <section id="sponsor-mobile" class="hidden-lg"> <div class="container"> <div style="background:#fff;padding: 5px;margin-bottom:20px;display:flex;align-items:center;justify-content:center;"> <img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2022/award-winner.png" alt="OMA" style="max-width: 200px;height:auto;/* margin-right: 0; */"> <a href="https://cleanenergyfrontier.climatechangenews.com/?utm_source=chn&utm_medium=menu&utm_campaign=cef_leads" target="_blank"> <img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2023/Clean Energy Frontier.png" alt="CEF" style="max-width: 200px;height:auto;"> </a> </div> <a class="btn" style="width: auto;height: 32px;font-size: smaller;padding-top: 3px;background-color: #293a52;color:white;" href="https://www.climatechangenews.com/sponsorship-and-advertising/">Become a CHN sponsor</a> <div class="sponsor-mobile"> <div><a href="https://www.signify.com/global/about" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2018/signify.png" alt="Signify logo" width="140" height="95" style="width:125px;height:85px;margin-top:15px;"></a></div> <div><a href="https://www.unilever.com/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2018/unilever.png" alt="Unilever logo" width="140" height="95" style="width:125px;height:85px;margin-top:15px;"></a></div> <div><a href="https://www.wemeanbusinesscoalition.org/?utm_source=climate_home&utm_medium=logo" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2021/WMBC logo.png" alt="We Mean Business logo" style="width:125px;height:50px;margin-top:40px;"></a></div> <div><a href="https://www.cjrfund.org/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2018/cjrf-2.png" alt="CJRF logo" width="140" height="150" style="width:125px;height:134px;margin-top:15px;"></a></div> <div><a href="https://www.adaptation-fund.org/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2019/adaption-fund.png" alt="Adaption Fund logo" width="140" height="95" style="width:125px;height:85px;margin-top:30px;"></a></div> <div><a href="https://www.orsted.com/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2021/Orsted_Logo.png" alt="Orsted logo" style="width:125px;height:33px;margin-top:40px;"></a></div> <div><a href="https://www.helvetas.org/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2022/hellogo.png" alt="Helvetas" width="140" height="95" style="width:165px;height:40px;margin-top:40px;"></a></div> </div> <div class="clearfix"></div> <div class="separator"></div> </div> </section> <div class="ads" style="text-align: center;"> <a class="btn" style="width: auto;height: 32px;font-size: smaller;padding-top: 3px;background-color: #293a52;color:white;margin-top: 15px;" href="https://www.climatechangenews.com/sponsorship-and-advertising/">Become a CHN sponsor</a> <a href="https://www.signify.com/global/about" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2018/signify.png" alt="Signify logo" width="140" height="95" style="width:125px;height:85px;margin-top:15px;"></a> <a href="https://www.unilever.com/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2018/unilever.png" alt="Unilever logo" width="140" height="95" style="width:125px;height:85px;margin-top:15px;"></a> <a href="https://www.wemeanbusinesscoalition.org/?utm_source=climate_home&utm_medium=logo" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2021/WMBC logo.png" alt="We Mean Business logo" width="140" height="50" style="width:140px;height:50px;margin-top:15px;"></a> <a href="https://www.cjrfund.org/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2018/cjrf-2.png" alt="CJRF logo" width="140" height="150" style="width:125px;height:134px;margin-top:15px;"></a> <a href="https://www.adaptation-fund.org/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2019/adaption-fund.png" alt="Adaption Fund logo" width="140" height="95" style="width:125px;height:85px;margin-top:15px;"></a> <a href="https://www.orsted.com/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2021/Orsted_Logo.png" alt="Orsted logo" style="width:125px;height:33px;margin-top:15px;"></a> <a href="https://www.helvetas.org/" target="_blank"><img src="https://www.climatechangenews.com/wp-content/themes/ccn/cdn/sponsors/2022/hellogo.png" alt="Helvetas" width="140" height="95" style="width:165px;height:40px;margin-top:15px;margin-bottom:15px;"></a> </div> <div class="home-colour frame-post-1"> <h3 style="color: #f29100;">Sponsored content</h3> <div class="row"> <div class="item-1"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/26/production-curbs-needed-for-strong-new-global-pact-on-plastic-pollution-campaigners-say/"> <img width="265" height="168" src="https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-265x168.jpg" class="attachment-medium size-medium wp-post-image" alt="Why a global pact on plastic pollution needs production curbs?" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-265x168.jpg 265w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-532x337.jpg 532w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-768x486.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-1536x973.jpg 1536w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-2048x1297.jpg 2048w" sizes="(max-width: 265px) 100vw, 265px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/26/production-curbs-needed-for-strong-new-global-pact-on-plastic-pollution-campaigners-say/">Production curbs needed for strong global pact on plastic pollution, campaigners say</a></p> </div> </div> </div> <div class="item-2"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/19/can-climate-funders-overcome-fear-to-tread-in-conflict-zones/"> <img width="300" height="168" src="https://cdn.climatechangenews.com/files/2021/11/17212918/12207389913_a10535c53a_c-e1637184571283-300x168.jpeg" class="attachment-medium size-medium wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2021/11/17212918/12207389913_a10535c53a_c-e1637184571283-300x168.jpeg 300w, https://cdn.climatechangenews.com/files/2021/11/17212918/12207389913_a10535c53a_c-e1637184571283-112x63.jpeg 112w, https://cdn.climatechangenews.com/files/2021/11/17212918/12207389913_a10535c53a_c-e1637184571283-768x432.jpeg 768w, https://cdn.climatechangenews.com/files/2021/11/17212918/12207389913_a10535c53a_c-e1637184571283-600x337.jpeg 600w, https://cdn.climatechangenews.com/files/2021/11/17212918/12207389913_a10535c53a_c-e1637184571283.jpeg 798w" sizes="(max-width: 300px) 100vw, 300px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/19/can-climate-funders-overcome-fear-to-tread-in-conflict-zones/">Can climate funders overcome fear to tread in conflict zones? </a></p> </div> </div> </div> <div class="item-3"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/15/aid-agencies-grapple-with-climate-adaptation-in-fragile-states/"> <img width="252" height="168" src="https://cdn.climatechangenews.com/files/2024/11/15095753/Somalia-drought-boy-small-252x168.jpg" class="attachment-medium size-medium wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/15095753/Somalia-drought-boy-small-252x168.jpg 252w, https://cdn.climatechangenews.com/files/2024/11/15095753/Somalia-drought-boy-small-505x337.jpg 505w, https://cdn.climatechangenews.com/files/2024/11/15095753/Somalia-drought-boy-small-768x512.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/15095753/Somalia-drought-boy-small.jpg 1000w" sizes="(max-width: 252px) 100vw, 252px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/15/aid-agencies-grapple-with-climate-adaptation-in-fragile-states/">Aid agencies grapple with climate adaptation in fragile states </a></p> </div> </div> </div> <div class="item-4"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/11/cross-border-climate-risks-cant-be-solved-in-isolation/"> <img width="224" height="168" src="https://cdn.climatechangenews.com/files/2024/11/11132046/BANGLADESH-FLOOD-SHERPUR-small-224x168.jpg" class="attachment-medium size-medium wp-post-image" alt="Cross-border climate risks can't be solved in isolation " decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/11132046/BANGLADESH-FLOOD-SHERPUR-small-224x168.jpg 224w, https://cdn.climatechangenews.com/files/2024/11/11132046/BANGLADESH-FLOOD-SHERPUR-small-449x337.jpg 449w, https://cdn.climatechangenews.com/files/2024/11/11132046/BANGLADESH-FLOOD-SHERPUR-small-768x576.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/11132046/BANGLADESH-FLOOD-SHERPUR-small.jpg 1000w" sizes="(max-width: 224px) 100vw, 224px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/11/cross-border-climate-risks-cant-be-solved-in-isolation/">Cross-border climate risks can’t be solved in isolation </a></p> </div> </div> </div> <div class="item-5"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/08/cop29-we-need-to-adapt-to-climate-chaos-now/"> <img width="173" height="168" src="https://cdn.climatechangenews.com/files/2024/10/24190923/Third_PikineDakar_Senegal_Schaer-173x168.jpeg" class="attachment-medium size-medium wp-post-image" alt="Flooded houses in a Senegalese town." decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/10/24190923/Third_PikineDakar_Senegal_Schaer-173x168.jpeg 173w, https://cdn.climatechangenews.com/files/2024/10/24190923/Third_PikineDakar_Senegal_Schaer-347x337.jpeg 347w, https://cdn.climatechangenews.com/files/2024/10/24190923/Third_PikineDakar_Senegal_Schaer.jpeg 671w" sizes="(max-width: 173px) 100vw, 173px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/08/cop29-we-need-to-adapt-to-climate-chaos-now/">COP29: We need to adapt to climate chaos now</a></p> </div> </div> </div> </div> <div class="clearfix"></div> </div> <div class="home-colour frame-post-1"> <h3>Latest News</h3> <div class="row"> <div class="item-1"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/27/explainer-what-was-decided-at-the-cop29-climate-talks-in-baku-outcomes/"> <img width="252" height="168" src="https://cdn.climatechangenews.com/files/2024/11/26221308/WhatsApp-Image-2024-11-26-at-12.19.05-PM-252x168.jpeg" class="attachment-medium size-medium wp-post-image" alt="Demonstrators at COP29 in Baku, Azerbaijan, calling for "trillions" in new climate finance on the last day of negotiations. Explainer: What happened at COP29?" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/26221308/WhatsApp-Image-2024-11-26-at-12.19.05-PM-252x168.jpeg 252w, https://cdn.climatechangenews.com/files/2024/11/26221308/WhatsApp-Image-2024-11-26-at-12.19.05-PM-505x337.jpeg 505w, https://cdn.climatechangenews.com/files/2024/11/26221308/WhatsApp-Image-2024-11-26-at-12.19.05-PM-768x512.jpeg 768w, https://cdn.climatechangenews.com/files/2024/11/26221308/WhatsApp-Image-2024-11-26-at-12.19.05-PM.jpeg 799w" sizes="(max-width: 252px) 100vw, 252px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/27/explainer-what-was-decided-at-the-cop29-climate-talks-in-baku-outcomes/">What was decided at the COP29 climate summit in Baku?</a></p> </div> </div> </div> <div class="item-2"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/26/production-curbs-needed-for-strong-new-global-pact-on-plastic-pollution-campaigners-say/"> <img width="265" height="168" src="https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-265x168.jpg" class="attachment-medium size-medium wp-post-image" alt="Why a global pact on plastic pollution needs production curbs?" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-265x168.jpg 265w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-532x337.jpg 532w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-768x486.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-1536x973.jpg 1536w, https://cdn.climatechangenews.com/files/2024/11/26135447/BFFP-Cut-plastic-production-scaled-e1732629604825-2048x1297.jpg 2048w" sizes="(max-width: 265px) 100vw, 265px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/26/production-curbs-needed-for-strong-new-global-pact-on-plastic-pollution-campaigners-say/">Production curbs needed for strong global pact on plastic pollution, campaigners say</a></p> </div> </div> </div> <div class="item-3"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/26/rights-group-alleges-abusive-conditions-for-migrant-workers-at-uae-renewable-projects/"> <img width="256" height="168" src="https://cdn.climatechangenews.com/files/2024/11/26071754/UAE-wind-small-cropo-256x168.jpg" class="attachment-medium size-medium wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/26071754/UAE-wind-small-cropo-256x168.jpg 256w, https://cdn.climatechangenews.com/files/2024/11/26071754/UAE-wind-small-cropo-515x337.jpg 515w, https://cdn.climatechangenews.com/files/2024/11/26071754/UAE-wind-small-cropo-768x503.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/26071754/UAE-wind-small-cropo.jpg 1000w" sizes="(max-width: 256px) 100vw, 256px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/26/rights-group-alleges-abusive-conditions-for-migrant-workers-at-uae-renewable-projects/">Rights group finds abusive conditions for migrants working on UAE renewables</a></p> </div> </div> </div> <div class="item-4"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/25/india-fires-warning-shot-with-rejection-of-finance-deal-at-cop29/"> <img width="252" height="168" src="https://cdn.climatechangenews.com/files/2024/11/25151628/India-COP29-speech-small-252x168.jpg" class="attachment-medium size-medium wp-post-image" alt="India fires warning shot with rejection of finance deal at COP29" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/25151628/India-COP29-speech-small-252x168.jpg 252w, https://cdn.climatechangenews.com/files/2024/11/25151628/India-COP29-speech-small-505x337.jpg 505w, https://cdn.climatechangenews.com/files/2024/11/25151628/India-COP29-speech-small-768x512.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/25151628/India-COP29-speech-small.jpg 1000w" sizes="(max-width: 252px) 100vw, 252px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/25/india-fires-warning-shot-with-rejection-of-finance-deal-at-cop29/">India fires warning shot with rejection of finance deal at COP29</a></p> </div> </div> </div> <div class="item-5"> <div class="media"> <div class="media-img"> <a href="https://www.climatechangenews.com/2024/11/25/un-plastic-pollution-treaty-kicks-off-busan-moment-truth-fossil-fuels/"> <img width="258" height="168" src="https://cdn.climatechangenews.com/files/2024/11/26100300/Plastics-treaty-banner-crop-258x168.jpg" class="attachment-medium size-medium wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://cdn.climatechangenews.com/files/2024/11/26100300/Plastics-treaty-banner-crop-258x168.jpg 258w, https://cdn.climatechangenews.com/files/2024/11/26100300/Plastics-treaty-banner-crop-518x337.jpg 518w, https://cdn.climatechangenews.com/files/2024/11/26100300/Plastics-treaty-banner-crop-768x500.jpg 768w, https://cdn.climatechangenews.com/files/2024/11/26100300/Plastics-treaty-banner-crop.jpg 1200w" sizes="(max-width: 258px) 100vw, 258px" /> </a> </div> <div class="media-body"> <p><a href="https://www.climatechangenews.com/2024/11/25/un-plastic-pollution-treaty-kicks-off-busan-moment-truth-fossil-fuels/">“Moment of truth” for plastic pollution as treaty talks get underway</a></p> </div> </div> </div> </div> <div class="clearfix"></div> </div> <div class="black frame-popular"> <h3>Most popular</h3> <div> <div class="wpp-shortcode"><script type="application/json">{"title":"","limit":"5","offset":0,"range":"last7days","time_quantity":24,"time_unit":"hour","freshness":false,"order_by":"views","post_type":"post","pid":"","cat":"","taxonomy":"post_tag","term_id":"-5071","author":"","shorten_title":{"active":false,"length":0,"words":false},"post-excerpt":{"active":false,"length":0,"keep_format":false,"words":false},"thumbnail":{"active":false,"build":"manual","width":0,"height":0},"rating":false,"stats_tag":{"comment_count":false,"views":true,"author":false,"date":{"active":false,"format":"F j, Y"},"category":false,"taxonomy":{"active":false,"name":"post_tag"}},"markup":{"custom_html":true,"wpp-start":"<ul class=\"wpp-list\">","wpp-end":"<\/ul>","title-start":"<h2>","title-end":"<\/h2>","post-html":"<li class=\"{current_class}\">{thumb} {title} <span class=\"wpp-meta post-stats\">{stats}<\/span><\/li>"},"theme":{"name":""}}</script><div class="wpp-shortcode-placeholder"></div></div></div> </div> </aside> </div> </div> </section> <div id="donation_bar" class="footer navbar-fixed-bottom " style="background-color: #1d2f49; color:#ffffff; font-weight: bold; padding: 10px; padding-top: 25px; display: none"> <button type="button" class="close" aria-label="Close" style="color: #fff; opacity: 1; margin-top: -25px"> <span aria-hidden="true">×</span> </button> <p> The climate crisis - and how we confront it - is THE story of our lifetimes. At Climate Home News, we believe journalism can make a difference. Our mission is to produce original reporting that informs, engages and inspires action. This takes time and expertise. Support our work today with a donation or by subscribing to our daily newsletter for exclusive extra content. </p> <div style="text-align: center"> <a href="/subscribe/" style="color: #FFFFFF; font-weight: bold; text-decoration: none"><button class="btn btn-sm btn-block" type="submit" name="subscribe" style="width: 200px; background-color: #f29100; display: inline; color: #FFFFFF">Subscribe</button></a> </div> </div> <footer> <div class="container"> <div class="row"> <p class="hidden-lg hidden-md hidden-sm" style="text-align: center; "><a href="/about-us/" style="color:#fff">About us</a>     <a href="/contact-us/" style="color:#fff">Contact us</a></p> <div class="col-md-12 col-lg-8"> <p>© 2024 Climate Home News Ltd. All rights reserved.</p> </div> <div class="hidden-xs hidden-sm hidden-md col-lg-4"> <p style="text-align:right;"><a style="color: #fff;text-decoration:underline;" href="/privacy-policy/">Privacy policy</a><a href="https://gcgnu3jnpj.execute-api.eu-west-2.amazonaws.com/ProdStage" rel="nofollow" style="display: none" aria-hidden="true">click here</a></p> </div> </div> </div> </footer>  <style> .modal { text-align: center; padding: 0!important; } .modal:before { content: ''; display: inline-block; height: 100%; vertical-align: middle; margin-right: -4px; } .modal-dialog { display: inline-block; text-align: left; vertical-align: middle; } .modal button.close { position: absolute; top: 0; right: 0; padding: 2px 5px; z-index: 2; } </style> <aside class="modal fade" id="subscribe" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"> <i class="fa fa-times" aria-hidden="true"></i> </button> <div class="col-sm-6 hidden-xs subscribe-1"> <p>Want our celebrated digest of weekly news straight to your inbox?</p> <p>Sign up to Climate Weekly, plus you'll get breaking news, investigations and bulletins from key events.</p>  </div> <div class="col-sm-6 col-xs-12 subscribe-2"> <form action="https://us1.list-manage.com/subscribe/post?u=6316d25f7b68919349e54a251&id=bf939f9418" method="post" name="mc-embedded-subscribe-form" target="_blank" novalidate> <p><strong>Newsletter Signup</strong></p> <div class="form-group"> <input type="email" class="form-control input-sm" value="" name="EMAIL" placeholder="Email *" required> </div> <div class="form-group"> <input type="text" class="form-control input-sm" value="" name="FNAME" placeholder="First name"> </div> <div class="form-group"> <input type="text" class="form-control input-sm" value="" name="LNAME" placeholder="Surname"> </div> <button class="btn btn-sm btn-block btn-subscribe" type="submit" name="subscribe">Subscribe</button> </form> <small style="display:block;color:#999;cursor:pointer;text-align:center; color:#999; margin:10px">or</small> <button id="nomorepopup" class="btn btn-sm btn-block" data-dismiss="modal" aria-label="Close">I'm signed up</button> </div> <div class="clearfix"></div> </div> </div> </aside> <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.3/dist/js/bootstrap.bundle.min.js" integrity="sha384-YvpcrYf0tY3lHB60NNkmXc5s9fDVZLESaAA55NDzOxhy9GkcIdslK1eN7N6jIeHz" crossorigin="anonymous"></script> <script type="text/javascript" src="//cdn.jsdelivr.net/npm/slick-carousel@1.8.1/slick/slick.min.js"></script> <script> jQuery( document ).ready(function() { $('#post .wp-caption').removeAttr('style'); $('#post iframe[src*="youtube.com"]').wrap("<div class='embed-responsive embed-responsive-16by9'></div>"); //Dropdown hover $('#upper-nav ul.nav li.dropdown').hover(function() { $(this).find('.dropdown-menu').stop(true, true).delay(200).fadeIn(500); }, function() { $(this).find('.dropdown-menu').stop(true, true).delay(200).fadeOut(500); }); function getCookie(cname) { var name = cname + "="; var decodedCookie = decodeURIComponent(document.cookie); var ca = decodedCookie.split(';'); for(var i = 0; i <ca.length; i++) { var c = ca[i]; while (c.charAt(0) == ' ') { c = c.substring(1); } if (c.indexOf(name) == 0) { return c.substring(name.length, c.length); } } return ""; } /*function setCookie(cname, cvalue, exdays) { var d = new Date(); d.setTime(d.getTime() + (exdays*24*60*60*1000)); var expires = "expires="+ d.toUTCString(); document.cookie = cname + "=" + cvalue + ";" + expires + ";path=/"; } var _no_donation_bar=getCookie("_no_donation_bar"); if (_no_donation_bar != 1 && window.location.pathname!="/subscribe/" && window.location.pathname!="/subscribe-weekly/" && window.location.pathname!="/subscribe-daily/"){ $('#donation_bar').show(); } $('#donation_bar > .close').click(function() { setCookie("_no_donation_bar", 1, 30); $('#donation_bar').slideToggle(); });*/ //Subscription popup /*function getCookie(cname) { var name = cname + "="; var decodedCookie = decodeURIComponent(document.cookie); var ca = decodedCookie.split(';'); for(var i = 0; i <ca.length; i++) { var c = ca[i]; while (c.charAt(0) == ' ') { c = c.substring(1); } if (c.indexOf(name) == 0) { return c.substring(name.length, c.length); } } return ""; } function setCookie(cname, cvalue, exdays) { var d = new Date(); d.setTime(d.getTime() + (exdays*24*60*60*1000)); var expires = "expires="+ d.toUTCString(); document.cookie = cname + "=" + cvalue + ";" + expires + ";path=/"; } function subscriptionPopup(){ $('#subscribe').modal('show'); setCookie("_email_subscription_popup", 1, 1); } var _email_subscription_popup=getCookie("_email_subscription_popup"); var _no_subscription_popup=getCookie("_no_subscription_popup"); if (_no_subscription_popup != 1){ if (_email_subscription_popup != 1) { setTimeout(subscriptionPopup, 10000); } } $("#nomorepopup").click(function() { if (_no_subscription_popup != 1) { setCookie("_no_subscription_popup", 1, 365); } }); */ //Slick slider for sponsor for mobile and tablet $('.sponsor-mobile').slick({ dots: false, arrows: false, infinite: true, speed: 300, autoplay: true, autoplaySpeed: 2000, slidesToShow: 5, slidesToScroll: 5, responsive: [ { breakpoint: 786, settings: { slidesToShow: 4, slidesToScroll: 4 } }, { breakpoint: 576, settings: { slidesToShow: 3, slidesToScroll: 3 } }, { breakpoint: 480, settings: { slidesToShow: 2, slidesToScroll: 2 } } ] }); }); </script>  <div id="cmplz-cookiebanner-container"><div class="cmplz-cookiebanner cmplz-hidden banner-1 bottom-right-view-preferences optin cmplz-bottom-right cmplz-categories-type-view-preferences" aria-modal="true" data-nosnippet="true" role="dialog" aria-live="polite" aria-labelledby="cmplz-header-1-optin" aria-describedby="cmplz-message-1-optin"> <div class="cmplz-header"> <div class="cmplz-logo"></div> <div class="cmplz-title" id="cmplz-header-1-optin">Manage Cookie Consent</div> <div class="cmplz-close" tabindex="0" role="button" aria-label="Close dialogue"> <svg aria-hidden="true" focusable="false" data-prefix="fas" data-icon="times" class="svg-inline--fa fa-times fa-w-11" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 352 512"><path fill="currentColor" d="M242.72 256l100.07-100.07c12.28-12.28 12.28-32.19 0-44.48l-22.24-22.24c-12.28-12.28-32.19-12.28-44.48 0L176 189.28 75.93 89.21c-12.28-12.28-32.19-12.28-44.48 0L9.21 111.45c-12.28 12.28-12.28 32.19 0 44.48L109.28 256 9.21 356.07c-12.28 12.28-12.28 32.19 0 44.48l22.24 22.24c12.28 12.28 32.2 12.28 44.48 0L176 322.72l100.07 100.07c12.28 12.28 32.2 12.28 44.48 0l22.24-22.24c12.28-12.28 12.28-32.19 0-44.48L242.72 256z"></path></svg> </div> </div> <div class="cmplz-divider cmplz-divider-header"></div> <div class="cmplz-body"> <div class="cmplz-message" id="cmplz-message-1-optin">To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.</div>  <div class="cmplz-categories"> <details class="cmplz-category cmplz-functional" > <summary> <span class="cmplz-category-header"> <span class="cmplz-category-title">Functional</span> <span class='cmplz-always-active'> <span class="cmplz-banner-checkbox"> <input type="checkbox" id="cmplz-functional-optin" data-category="cmplz_functional" class="cmplz-consent-checkbox cmplz-functional" size="40" value="1"/> <label class="cmplz-label" for="cmplz-functional-optin" tabindex="0"><span class="screen-reader-text">Functional</span></label> </span> Always active </span> <span class="cmplz-icon cmplz-open"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512" height="18" ><path d="M224 416c-8.188 0-16.38-3.125-22.62-9.375l-192-192c-12.5-12.5-12.5-32.75 0-45.25s32.75-12.5 45.25 0L224 338.8l169.4-169.4c12.5-12.5 32.75-12.5 45.25 0s12.5 32.75 0 45.25l-192 192C240.4 412.9 232.2 416 224 416z"/></svg> </span> </span> </summary> <div class="cmplz-description"> <span class="cmplz-description-functional">The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.</span> </div> </details> <details class="cmplz-category cmplz-preferences" > <summary> <span class="cmplz-category-header"> <span class="cmplz-category-title">Preferences</span> <span class="cmplz-banner-checkbox"> <input type="checkbox" id="cmplz-preferences-optin" data-category="cmplz_preferences" class="cmplz-consent-checkbox cmplz-preferences" size="40" value="1"/> <label class="cmplz-label" for="cmplz-preferences-optin" tabindex="0"><span class="screen-reader-text">Preferences</span></label> </span> <span class="cmplz-icon cmplz-open"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512" height="18" ><path d="M224 416c-8.188 0-16.38-3.125-22.62-9.375l-192-192c-12.5-12.5-12.5-32.75 0-45.25s32.75-12.5 45.25 0L224 338.8l169.4-169.4c12.5-12.5 32.75-12.5 45.25 0s12.5 32.75 0 45.25l-192 192C240.4 412.9 232.2 416 224 416z"/></svg> </span> </span> </summary> <div class="cmplz-description"> <span class="cmplz-description-preferences">The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.</span> </div> </details> <details class="cmplz-category cmplz-statistics" > <summary> <span class="cmplz-category-header"> <span class="cmplz-category-title">Statistics</span> <span class="cmplz-banner-checkbox"> <input type="checkbox" id="cmplz-statistics-optin" data-category="cmplz_statistics" class="cmplz-consent-checkbox cmplz-statistics" size="40" value="1"/> <label class="cmplz-label" for="cmplz-statistics-optin" tabindex="0"><span class="screen-reader-text">Statistics</span></label> </span> <span class="cmplz-icon cmplz-open"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512" height="18" ><path d="M224 416c-8.188 0-16.38-3.125-22.62-9.375l-192-192c-12.5-12.5-12.5-32.75 0-45.25s32.75-12.5 45.25 0L224 338.8l169.4-169.4c12.5-12.5 32.75-12.5 45.25 0s12.5 32.75 0 45.25l-192 192C240.4 412.9 232.2 416 224 416z"/></svg> </span> </span> </summary> <div class="cmplz-description"> <span class="cmplz-description-statistics">The technical storage or access that is used exclusively for statistical purposes.</span> <span class="cmplz-description-statistics-anonymous">The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.</span> </div> </details> <details class="cmplz-category cmplz-marketing" > <summary> <span class="cmplz-category-header"> <span class="cmplz-category-title">Marketing</span> <span class="cmplz-banner-checkbox"> <input type="checkbox" id="cmplz-marketing-optin" data-category="cmplz_marketing" class="cmplz-consent-checkbox cmplz-marketing" size="40" value="1"/> <label class="cmplz-label" for="cmplz-marketing-optin" tabindex="0"><span class="screen-reader-text">Marketing</span></label> </span> <span class="cmplz-icon cmplz-open"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512" height="18" ><path d="M224 416c-8.188 0-16.38-3.125-22.62-9.375l-192-192c-12.5-12.5-12.5-32.75 0-45.25s32.75-12.5 45.25 0L224 338.8l169.4-169.4c12.5-12.5 32.75-12.5 45.25 0s12.5 32.75 0 45.25l-192 192C240.4 412.9 232.2 416 224 416z"/></svg> </span> </span> </summary> <div class="cmplz-description"> <span class="cmplz-description-marketing">The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.</span> </div> </details> </div> </div> <div class="cmplz-links cmplz-information"> <a class="cmplz-link cmplz-manage-options cookie-statement" href="#" data-relative_url="#cmplz-manage-consent-container">Manage options</a> <a class="cmplz-link cmplz-manage-third-parties cookie-statement" href="#" data-relative_url="#cmplz-cookies-overview">Manage services</a> <a class="cmplz-link cmplz-manage-vendors tcf cookie-statement" href="#" data-relative_url="#cmplz-tcf-wrapper">Manage {vendor_count} vendors</a> <a class="cmplz-link cmplz-external cmplz-read-more-purposes tcf" target="_blank" rel="noopener noreferrer nofollow" href="https://cookiedatabase.org/tcf/purposes/">Read more about these purposes</a> </div> <div class="cmplz-divider cmplz-footer"></div> <div class="cmplz-buttons"> <button class="cmplz-btn cmplz-accept">Accept</button> <button class="cmplz-btn cmplz-deny">Deny</button> <button class="cmplz-btn cmplz-view-preferences">View preferences</button> <button class="cmplz-btn cmplz-save-preferences">Save preferences</button> <a class="cmplz-btn cmplz-manage-options tcf cookie-statement" href="#" data-relative_url="#cmplz-manage-consent-container">View preferences</a> </div> <div class="cmplz-links cmplz-documents"> <a class="cmplz-link cookie-statement" href="#" data-relative_url="">{title}</a> <a class="cmplz-link privacy-statement" href="#" data-relative_url="">{title}</a> <a class="cmplz-link impressum" href="#" data-relative_url="">{title}</a> </div> </div> </div> <div id="cmplz-manage-consent" data-nosnippet="true"><button class="cmplz-btn cmplz-hidden cmplz-manage-consent manage-consent-1">Manage consent</button> </div> <script type="text/javascript"> var sbiajaxurl = "https://www.climatechangenews.com/wp-admin/admin-ajax.php"; </script>  <noscript> <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-55LR53Q" height="0" width="0" style="display:none;visibility:hidden"></iframe> </noscript>  <script type="text/javascript" id="ppress-frontend-script-js-extra"> /* <![CDATA[ */ var pp_ajax_form = {"ajaxurl":"https:\/\/www.climatechangenews.com\/wp-admin\/admin-ajax.php","confirm_delete":"Are you sure?","deleting_text":"Deleting...","deleting_error":"An error occurred. Please try again.","nonce":"772127fe5d","disable_ajax_form":"false","is_checkout":"0","is_checkout_tax_enabled":"0","is_checkout_autoscroll_enabled":"true"}; /* ]]> */ </script> <script type="text/javascript" src="https://www.climatechangenews.com/wp-content/plugins/wp-user-avatar/assets/js/frontend.min.js?ver=4.15.19" id="ppress-frontend-script-js"></script> <script type="text/javascript" id="cmplz-cookiebanner-js-extra"> /* <![CDATA[ */ var complianz = {"prefix":"cmplz_","user_banner_id":"1","set_cookies":[],"block_ajax_content":"","banner_version":"23","version":"7.1.5","store_consent":"","do_not_track_enabled":"","consenttype":"optin","region":"uk","geoip":"","dismiss_timeout":"","disable_cookiebanner":"","soft_cookiewall":"","dismiss_on_scroll":"","cookie_expiry":"365","url":"https:\/\/www.climatechangenews.com\/wp-json\/complianz\/v1\/","locale":"lang=en&locale=en_GB","set_cookies_on_root":"","cookie_domain":"","current_policy_id":"14","cookie_path":"\/","categories":{"statistics":"statistics","marketing":"marketing"},"tcf_active":"","placeholdertext":"Click to accept {category} cookies and enable this content","css_file":"https:\/\/www.climatechangenews.com\/wp-content\/uploads\/complianz\/css\/banner-{banner_id}-{type}.css?v=23","page_links":{"uk":{"cookie-statement":{"title":"Cookie Policy ","url":"https:\/\/www.climatechangenews.com\/cookie-policy-uk\/"},"privacy-statement":{"title":"Privacy policy","url":"https:\/\/www.climatechangenews.com\/privacy-policy\/"}}},"tm_categories":"","forceEnableStats":"","preview":"","clean_cookies":"","aria_label":"Click to accept {category} cookies and enable this content"}; /* ]]> */ </script> <script defer type="text/javascript" src="https://www.climatechangenews.com/wp-content/plugins/complianz-gdpr/cookiebanner/js/complianz.min.js?ver=1731606468" id="cmplz-cookiebanner-js"></script> </body> </html>

CINXE.COM

Australian bank sued over failure to disclose climate risks