“The irony is that by enabling new coal projects, insurers are undermining their own viability. It is a stark case of climate hypocrisy.”
In a first of its kind case, a pension fund member in Australia has taken their fund to court over a lack of information on what it knows about the impact of climate change on his investments and what it is doing about it.
Investors in Rio Tinto have made it clear that they will not stand by and watch while the company funds lobby groups that block climate policy.
As Commonwealth leaders assemble in London, under distinct pressure to act on climate, lawyers point to existing law that commits directors to manage climate risk.
Shareholders are set to protest the corporation’s membership to trade associations notorious for undermining international climate efforts.