Daily Media Briefing

Source: ccbriefing.corporate-citizenship.com --- Tuesday, August 08, 2017
Commonwealth Bank shareholders sue over ‘inadequate’ disclosure of climate change risks Tesco to scrap single-use carrier bags in favour of ‘bag for life’ Australia must embrace AI revolution with automation set to affect every job, report says Upmarket cereal brands ignore sugar content warnings Government report finds drastic impact of climate change on U.S. Responsible Investment Commonwealth Bank shareholders sue over ‘inadequate’ disclosure of climate change risks Commonwealth Bank of Australia is being sued by shareholders for having failed to adequately inform investors of climate change-related risks. The case will be the first anywhere in the world to test in court how companies are required to disclose climate risks. It also follows recent findings over the lack of disclosure of such risks in Australia’s superannuation industry. Emma Herd, Chief Executive of the Investor Group on Climate Change in Australia said many companies would also watch the case for potential implications on their reporting requirements, as companies tend to include climate risks very differently into their annual reports. The claim, brought by Environmental Justice Australia on behalf of two Commonwealth Bank shareholders could entail significant reputational and financial risks related to the bank’s position on funding Adani’s proposed Carmichael coalmine. The federal court will have to decide how the case should proceed. ( Guardian ) Waste Te ...

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