Wednesday, January 29, 2020

Activist attorneys general add to Australian climate litigation risk: More reasons why ASX companies worth $500 Billion could seek a safe haven re-listing on the Singapore Exchange

by Ganesh Sahathevan

The Attorney General of the State Of Victoria Jill Hennessy has taken the unprecedented step of demanding that the Governor General of Australia strip a  recipient of a national award of the honour. 

A woman with fair hair in a black top with a colourful pattern.PHOTO: Victorian Attorney-General, Jill Hennessy, posted her letter to the Governor-General on Facebook on Wednesday night. (ABC News: Andrew Ware)

Ms Hennessy's actions suggest a willingness on the part of at least one Australian state attorney general to use the office to further a political agenda. This adds to the risk to Australian mining, oil and gas companies of crusading judges deciding against them in climate litigation matters, which are inherently political. Ms Hennessy's actions raise the prospect of state attorneys general instigating climate litigation.
The fact that her government, lead by Premier Dan Andrews, sees itself as a leader in pursuing aggressive emissions goals raises the spectre that Ms Hennessy may soon take aim via the legal system at resource, oil and gas companies.
Victoria under Dan Andrews has already banned onshore gas exploration, which has contributed to Australia's gas shortage and higher energy costs.

There are now even more reasons for ASX listed companies worth approximately $ 500 Billion t to move to Singapore. As previously reported on this blog:

Mining, oil, gas and coal companies listed on the Australian Stock Exchange worth approximately $300-$500 Billion could seek a safe haven from the threat of climate litigation heard before Australian judges who seem to be increasingly inclined to play activist rather than judge.


No comments:

Post a Comment