New CBA case a warning: Step up on climate change, or we’ll see you in court | John Hewson

Despite the scale and urgency of the climate crisis and popular support for action, governments and financiers are failing to act. This will have to change

In a global first, Australian mum-and-dad shareholders Guy and Kim Abrahams have launched a case against the Commonwealth Bank, arguing that the bank has breached the law by not disclosing the risks climate change poses to its business.

Buying their shares over 20 years ago, Guy and Kim were making “an investment in their children’s futures”. A climate-changed world of financial risk, social upheaval and environmental degradation is clearly not the future they signed up for.

Related: Commonwealth Bank shareholders sue over 'inadequate' disclosure of climate change risks

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