#corporationsact — Public Fediverse posts

Kraken Adjusts Margin Product to Comply With Australian Crypto Law, Calls for Clearer Regulation - The Australian Federal Court ruled that Kraken’s fiat margin extensions are subjec... - https://news.bitcoin.com/kraken-adjusts-margin-product-to-comply-with-australian-crypto-law-calls-for-clearer-regulation/ #wholesaleinvestor #australiancourt #corporationsact #cryptocurrency #australianlaw #marginproduct #cryptomargin #cryptoassets #regulation #compliance #crypto #kraken #margin

Kraken Crypto Exchange Fined by Australian Court - The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto... - https://news.bitcoin.com/kraken-crypto-exchange-fined-by-australian-court/ #consumerprotection #bittradeptyltd. #corporationsact #creditfacility #cryptocurrency #digitalassets #margintrading #federalcourt #compliance #regulatory #australia #crypto #kraken #legal #asic

Bill passes to force big Australian companies to report on climate impacts and risks

"Compulsory climate reporting for businesses will bring Australia in line with trading partners and support investment...The largest companies and financial institutions must provide greater detail on how climate change is affecting strategy and key business decision under amendments to the Corporations Act that have passed the Senate."

"Mandatory disclosure of climate and nature-related risks will be a critical pillar of Australia’s climate response and an important way for companies to adjust, the Carbon Market Institute’s chief executive said on Friday...This very welcome development sees Australia follow other jurisdictions around the world."

"Directors who fail to properly model, manage and disclose the risks could be held liable for breaching their legal duties. Reporting will start on January 1 for Australia’s largest listed and unlisted companies and financial institutions, with others to be phased in over time."

>>
https://reneweconomy.com.au/bill-passes-to-force-big-australian-companies-to-report-on-climate-impacts-and-risks/
#climate #FossilFuels #biodiversity #GHG #harm #disclosure #ExtremeHeat #industry #transparency #CorporationsAct #ClimateEmergency #disclosures #FCNSW #loggingIndustry #law #liability

Australian court rules against Qoin issuer BPS Financial on 4 charges - Qoin still has a class-action suit pending against it in addition to the... - https://cointelegraph.com/news/asic-bps-financial-qoin-token-deception-case #australiansecuritiesandinvestmentscommissionact #non-cashpaymentfacility #federalcourtruling #corporationsact #cryptocurrency #bpsfinancial #legalaction #qointoken #deception #asic

Green finance fighting greenwashing
Making money green: Australia takes its first steps towards a net zero finance strategy

"From July 1 2024, large Australian companies and financial institutions will have to disclose information about the impacts of climate on their business, the risks climate change poses to their operations, and how they plan to decarbonise. Successive Australian governments have been slow to grasp this reality, and we are now playing catch-up with many other countries. Australia’s financial system must urgently transform itself to meet the climate challenge."

https://theconversation.com/making-money-green-australia-takes-its-first-steps-towards-a-net-zero-finance-strategy-214063

Mandatory climate-related financial disclosures for Australian companies explained
https://www.climateworkscentre.org/news/mandatory-climate-related-financial-disclosures-for-australian-companies-explained/

Company directors could be held liable and fined over unforeseen nature-related impacts and risks
https://www.theguardian.com/environment/2023/nov/02/company-directors-could-be-held-liable-and-fined-over-unforeseen-nature-related-impacts-and-risks
#greenwashing #market #finance #decarbonise #climate #DisclosureRequirements #liability #CorporationsAct #law #ParisAgreementClimateAgreement #UNSustainableDevelopmentGoals #ForestryCorporation #NSWLogging #ClimateExtremes #nature #care

Harming Nature and liability
Company directors could be held responsible for nature risks. Pollination director Laura Waterford says directors have been put on notice by a new legal opinion advising that failure to address nature risks could constitute a breach of duty under the Corporations Act.
https://www.abc.net.au/news/programs/the-business/2023-11-02/company-directors-could-be-held-responsible-for/103058746

Nature-related harm and Corporate social responsibility
https://mastodon.au/@Bellingen/111337129314506975
#CorporationsAct #liability #EU #SupplyChains #CimateDisclosure #MandatoryFramework #law #harm #ClimateEmergency #biodiversity #climate #risks #deforestation #LoggingIndustry #LoggingImpacts #nature

Nature-related harm and Corporate social responsibility

"Company directors who fail to foresee the impacts their companies have on nature, and the commercial risks those effects pose, can be held personally liable and fined, according to lawyers."

"It comes after the taskforce on nature-related financial disclosures recently released a global framework aimed at ensuring that nature is considered alongside other types of risks. It also follows last year’s Cop15 biodiversity pact, in which 196 countries reached agreement on 23 targets aimed at protecting and restoring biodiversity."
>>
https://www.theguardian.com/environment/2023/nov/02/company-directors-could-be-held-liable-and-fined-over-unforeseen-nature-related-impacts-and-risks

"In Australia, a recent examination of 19 ecosystems found that all ecosystems being examined had collapsed or were collapsing. At the same time, it has been estimated that approximately half of Australia’s GDP has a moderate to very high direct dependence on ‘ecosystem services’ such as clean water, healthy soil, wild pollinators, and climate stability. >report
https://pollinationgroup.com/global-perspectives/australian-company-directors-and-nature-related-risk-a-new-legal-opinion/
#SupplyChains #biodiversity #COP15 #law #liability #nature #degradation #CorporationsAct #ForestryCorporation