Ignoring climate change penalties for Company directors

Australia’s fall from grace as a global leader in the fight against dangerous climate change was rapid and inglorious…But any Australian business leaders who think they got away with sticking their heads in the sand should think again…Politicians who fail in their endeavours to combat climate change can simply retire on a taxpayer-funded scheme…For company directors who fail in their duties, the penalties are much more severe, including fines of up to $200,000 and disqualification from holding directorships…”It is likely to be only a matter of time before we see litigation against a director who has failed to perceive, disclose or take steps in relation to a foreseeable climate-related risk that can be demonstrated to have caused harm to a company (including, perhaps, reputational harm),” the advice, commissioned by the Centre for Policy Development and the Future Business Council, titled “Climate Change and Directors Duties” concludes.

>more>SydneyMorningHerald

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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