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Australian Bank Faces Lawsuit over Climate Reporting
August 09, 2017
Reuters reports that nongovernmental organization Environmental Justice Australia is managing the lawsuit of two shareholders in the Commonwealth Bank of Australia alleging that the bank broke the law by failing to include in its financial statements risks posed by climate change to its investment portfolio.
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Global Organizations Prepare Toolkit on Offshore Taxation
August 09, 2017
The International Monetary Fund, the Organisation for Economic Co-operation and Development, the UN, and the World Bank Group are seeking public feedback on the draft of a toolkit designed to guide developing nations in implementing taxation of offshore indirect transfers of assets, often used by businesses to lower their effective tax rates.
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WHO Meeting Promotes “Sustainable” Drug Pricing
August 09, 2017
The UN World Health Organization (WHO) hosted a closed-door meeting of government officials and other health policy stakeholders to discuss options for increased global governance over drug pricing to promote “fair” and “sustainable” pricing to ensure "universal access to essential medicines and other health technologies."
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Norway Fund Requires Bank Climate Disclosures
August 09, 2017
Reuters reports that Norway's sovereign wealth fund, Norges Bank Investment Management, has announced that it will require disclosure by banks in which it invests of the extent to which their lending supports greenhouse gas emissions in violation of the global climate agenda.
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Chinese Industry Faces Blowback over Foreign Coal Projects
August 09, 2017
The Los Angeles Times reports that China, recently heralded by the UN and national leaders as a "global leader in climate action, is facing criticism from environmental activists both for being the world's largest greenhouse gas emitter and financing, through its state-owned companies, nearly 100 coal-powered projects throughout Asia.
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