Inbrief

A shareholder resolution that sought to prevent an Australian bank from investing in forestry operations in ‘high conservation value’ areas received support from more than 20 per cent of votes cast at the bank’s annual meeting. There were around 125 million National Australia Bank shareholder votes in favour of the motion put forward by the Wilderness Society advocacy group. However, 468 million voted against. A similar resolution at the AGM of Australia’s largest financial institution, the Commonwealth Bank, was supported by 23 per cent of voting shares.