Australian govvies hit by climate challenge

Global warming climate smoke pollution from Adobe 7Jul20 575x375
By Frank Jackman, Lewis McLellan
23 Jul 2020

In a world first this week, 23-year-old student and Australian retail government bond investor Katta O’Donnell filed a legal challenge against the sovereign on Wednesday, claiming that the government does not do enough to disclose the risks of climate change to investors. If successful, the case could change issuers’ obligations regarding climate risk disclosure.

“The core of this case is to argue that Australia is particularly susceptible to climate risk because it is especially vulnerable to fires, droughts and other extreme weather events, and its economy is especially geared towards minerals and agriculture,” said Ilona Millar, global head of climate change practice ...

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