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Saturday, 11 November 2017

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Groundbreaking climate change case brought against Australia's biggest bank
Sydney, 8 August 2017: A groundbreaking case filed today against the Commonwealth Bank by shareholders argues the bank has failed to disclose the financial and reputational risk posed by climate change.Filed by Environmental Justice Australia on behalf of Guy and Kim Abrahams, shareholders of over 20 years, the action is against one of Australia's "Big Four" banks. Analysis by Australian environmental finance group Market Forces shows that Commonwealth Bank has loaned AU$6 billion to fossil fuel companies since publicly committing to support the goals of the Paris Agreement 18 months ago. [1] "The Commonwealth Bank's multi-billion-dollar exposure to fossil fuels not only poses a threat to...
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