Skip to main content

New Practical Law Company Law content: 2023 shareholder requisitioned resolutions

/
Content updates

The rapidly developing legal consensus in Australia is that directors and officers of listed public Australian companies, particularly the ASX200, are expected by shareholders and regulators to consider and disclose the risks posed by climate change as part of their corporate governance, and to take appropriate action to disclose and manage those risks over both the short and the long term. In particular, 2023 saw significant developments in this space, for example, the International Sustainability Standards Board (ISSB) finalising and issuing its inaugural global baseline standards for sustainability-related disclosures. Against the background of these developments, while environmental, social and governance (ESG) and other sustainability-related issues remained a prominent feature of the 2023 annual general meeting (AGM) season, there were fewer ESG-related shareholder requisitioned resolutions in 2023 compared to previous years. This is likely because companies are becoming increasingly transparent with shareholders in relation to their ESG and sustainability disclosure and reporting, and other climate-related commitments. Similarly, there were fewer Say On Climate resolutions.

Checklist, Examples of shareholder-requisitioned environmental, social and governance resolutions affecting ASX 200 entities in 2023 sets out the substance of resolutions requisitioned by shareholders of six companies in the ASX 200 at their 2023 AGM and the voting results at the AGM using, unless stated otherwise, the company's published AGM results. In 2023, all of these resolutions were coordinated by Market Forces (a climate change activist organisation affiliated with Friends of the Earth).

Speak to a consultant

Can't find an answer to your question?
Contact our support team.

Request training

Contact our team to arrange training.

Tell us what you think

We'd love to hear what you think
of our products and support.