Corporate social responsibility/ESG shareholder activism in Australia: A case study of the Australasian Centre for Corporate Responsibility

As shareholder activism around the world increases, investigation of the developing legal framework for shareholder rights becomes increasingly important. This article uses a case study of recent activities of the Australasian Centre for Corporate Responsibility and considers the implications of shareholder rights in Australia as they pertain to activism on environmental, social and governance issues. While relevant shareholder rights in Australia might be considered restricted when compared with those of the UK and the US, there have been significant successes. Although shareholder activists in Australia find ways to work-around current limitations, we argue for legal reform, including statutory recognition of advisory resolutions as a shareholder right.