The climate stance of the Business Council of Australia will come under intense scrutiny, as a major global investor alliance makes corporate lobbying reform a top priority.
Investors should pressure oil and gas companies such as Origin, Oil Search, Santos and Woodside to delink executive bonuses from production and reserve growth, says a new international report.
Glencore's new climate change commitments send a strong signal that companies need to demonstrate what they are doing to cut emissions from the use of their products, according to the Investor Group on Climate Change.
Ahead of the G7 leaders summit in Canada, investors with US$26 trillion in assets under management have put governments and companies on notice that they want more action on climate change.
ANZ has issued a 750-million-euro bond that will direct proceeds to projects that have environmental, social and economic benefits aligning with UN Sustainability Goals.
A major international pension fund has deemed Origin Energy uninvestable because it owns a coal-fired power plant, and the world's largest sovereign wealth fund has received official advice to reduce its oil and gas investments.
Climate change and pollution in leading economies has provided a wake-up call that financial institutions aren't paying enough attention to sustainability risks, according to Brian Cahill of ratings agency Moody's.