ASIC next in line to be climate cop

Original article by Michael Roddan
The Australian – Page: 1 & 4 : 24-Dec-19

The Australian Securities & Investments Commission will begin to legally enforce a requirement that listed companies must inform their shareholders and customers of any material risks from climate change. ASIC has not yet used this enforcement power under the Corporations Act 2001, but it intends to do so in 2020. Woolworths and Treasury Wine Estates are among the companies that have warned of the potential impact of climate change in their financial reports.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, WOOLWORTHS GROUP LIMITED – ASX WOW, TREASURY WINE ESTATES LIMITED – ASX TWE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CITIGROUP PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, RESERVE BANK OF AUSTRALIA

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