Environmental groups have lost their legal battle with Australia's largest bank over the reporting of its financing of carbon pollution.
Environment activists took the Commonwealth Bank to court last year after it refused to put to shareholders two resolutions at its annual general meeting concerning its financing of fossil fuel projects.
The bank argued that the resolutions were not valid because shareholders cannot interfere with the board's power to manage the business.
The Federal Court in Melbourne agreed, ruling in favour of the bank on Friday.
CBA welcomed the ruling and said it confirms it has acted in accordance with the law.
"We welcome the participation of shareholders and other groups in CBA's annual general meetings, and balance it with the need to run such meetings effectively," a spokesman said.
However, the Australasian Centre for Corporate Responsibility (ACCR) said it was not giving up and will consider appealing to the High Court.
"We brought this important test case because, in an age of increasing corporate power, it is important that shareholders can hold corporations accountable for their actions," ACCR spokeswoman Caroline Le Courteur said.
CBA said it already reports its carbon emissions and releases regular lending disclosures.
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