Dec 19, 2014

Mayne: shareholder resolutions bring big four banks to carbon disclosure table

The formation of the Australasian Centre for Corporate Responsibility represents the first serious grassroots attempt to improve shareholder democracy in Australia.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

Some 44 years after a group of concerned American doctors won a landmark court case against Dow Chemical that opened the door to what has been literally thousands of non-binding shareholder resolutions, Australia is potentially moving down a similar path.

The public debate on this effectively kicked off at the ANZ AGM yesterday when newly installed chairman David Gonski faced his first shareholder resolution in a long and storied public company career.

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One thought on “Mayne: shareholder resolutions bring big four banks to carbon disclosure table

  1. Keynesian

    We are rapidly approaching the time where the financing of dirty coal-based generators and coal extraction projects will be seen by shareholders of financial institutions to be not only globally irresponsible, but also to be carrying far too much risk in the medium to long term. ACCR is helping bring these issues into the open at a time when the impact of fossil fuels on climate change is being recognised by governments and institutions around the world.

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