2017 Commonwealth Bank Shareholder Resolution and complaint
If you own shares in a company, then you can have a say in what it does.
Commonwealth Bank is the largest company in Australia and one of the heaviest lenders to fossil fuels among Australian banks. Despite claiming to support the goal of holding global warming to less than 2 degrees, Commonwealth Bank is continuing to finance the fossil fuel sector, including new projects that Market Forces has calculated would add billions more tonnes of carbon dioxide to the atmosphere over their lifetimes.
Market Forces wants to make sure Commonwealth Bank’s future is one that matches their commitment to support the goal of holding global warming to below 2 degrees. This resolution is a first of a kind that would change the constitution of the bank to embed climate change risk management into the management of the company.
In Australia it takes 100 shareholders to lodge a resolution at a company AGM. Can you join us as one of the 100?
If you are a shareholder in Commonwealth Bank please complete the web form below. By doing so you will appoint a representative of Market Forces to act on your behalf for the purpose of lodging resolutions and supporting statements. Click here to see the terms of the Agency Agreement.
Alternatively you can download, print, complete, sign and mail the resolutions to us which has the same effect. Download the forms via the buttons below. If you choose to mail the resolutions to us, please do so before Friday, 1 September 2017 and send the complete document to: Market Forces, c/o Friends of the Earth, P.O. Box 222, Fitzroy, Victoria, 3065
If you want to know more there is a FAQ here.
The Resolutions consists of a Special Resolution intended to amend the constitution of the company. The resolution will be lodged once at least 100 shareholders have agreed to the Agency Agreement. Click on the buttons below to view the resolution and supporting statement.
After completing the Agency Agreement to join the resolution you will be redirected to a page where you can choose to also add your name to a complaint to the regulator, ASIC, about Commonwealth Bank’s failure to fulfil their commitment to help hold global warming below two degrees.
Market Forces is an affiliate project of Friends of the Earth Australia.