Australian Government Sued Over Sovereign Bond Climate Change-Related Disclosures

In a first-of-its-kind action worldwide, an Australian investor has filed a lawsuit against the Australian Federal Government and two government officials for allegedly failing to disclose to investors the climate change risks attached to the sovereign bonds, according to a report in the D&O Diary.

According to an August 12, 2020 memo from the Allens law firm, the suit is a first-of-its-kind action worldwide that could serve as a “stepping stone” toward both more activist litigation and more commercially-focused climate change disclosure litigation.