Companies will be under more pressure to inform investors of their environmental risk management strategies, under proposed changes to ASX corporate governance guidelines.
Activist Bill McKibben had some useful messages for institutional investors at a Sydney meeting, according to the Investor Group on Climate Change, while Greens Leader Christine Milne says it's time for the Future Fund to exit fossil fuels.
New reports from an Australian group representing funds that manage more than $900 billion warn oil and gas reserves might have to remain unexploited and urge investors to seek climate change risk assessments from owners of large mines.
A company will be allowed to seek approval for a full-scale oil shale plant at Gladstone, paving the way for development of massive reserves along the state's coast and prompting warnings from the Greens and environment groups.
A carbon price has been used to avoid or remove an EPBC greenhouse gas trigger, power station standards and CO2 approval conditions – but it would be 'open season' for their return if a carbon price goes, says environment group WWF.
Banks can be 'agents of change' and environmental regulators can help them better manage risk in their dealings with clients, according to WA EPA chair Paul Vogel.
The limited support from super funds for renewables and their strong backing for fossil fuel companies suggests they are putting their money on vested interests prevailing over social leadership, according to one of Australia's leading super fund executives.
Fewer ASX200 companies are concerned about carbon price risk and more are taking action on energy efficiency, says a new Carbon Disclosure Project analysis that praises companies including Qantas, Virgin Australia, Wesfarmers and Woolworths for improved information sharing practices.
Assisted by senior regulators, a new association of bankers and investors plans to develop finance industry guidelines to ensure lenders properly scrutinise the environmental credentials of projects seeking funding.