Commonwealth Bank shareholders drop suit over non-disclosure of climate risks

Guy and Kim Abrahams say case does not need to proceed after changes in bank’s 2017 annual report

Commonwealth Bank shareholders Guy and Kim Abrahams have dropped their world-first court proceedings against the bank for failing to disclose climate change risks in annual reports.

They say CBA’s 2017 annual report, which was published last month, included an acknowledgement for the first time from CBA directors that climate change posed a significant risk to the bank’s operations, with a promise to undertake climate change scenario analysis on its business in the upcoming year to assess the risk.

Continue reading…

Turnbull rejects efforts to ‘dumb down’ energy debate into renewables v coal

A day after Tony Abbott’s call for coal to be prioritised, the prime minister says the debate has seen too much ideology and ‘not enough competence’

Malcolm Turnbull has rejected efforts to “dumb down” the energy debate into renewables versus coal, and says the government’s new investment framework will encourage “all of the above”.

A day after a significant incursion by Tony Abbott into the energy debate – with the former prime minister arguing the government should not support renewables and should instead prioritise coal-fired energy for grid security – Turnbull said the energy debate had seen too much ideology and “not enough competence”.

Continue reading…

Bureau of Meteorology attacks pushed by ‘fever swamp’ of climate denial | Graham Readfearn

Rob Vertessy, who retired as the BOM’s director in 2016, has hit back at ‘time wasters’ and ‘amateurs’ who are given a forum by the Australian

For Rob Vertessy, the attacks on his government agency became tedious and time-consuming and no less irritating because they were coming from a motivated group of “amateurs”.

Vertessy spent a decade at Australia’s Bureau of Meteorology. He retired in April 2016 after five years as the agency’s director.

Continue reading…