Australia's biggest bank just became the first financial institution to be sued over how it deals with the risk of climate change to its business. 

Two shareholders of the Commonwealth Bank of Australia filed a lawsuit in the country's federal court...alleging that the bank did not "adequately disclose" the risks climate change could pose to its financial stability. 

..."The proceeding is the first legal action by shareholders against a bank anywhere in the world that will test how public companies should disclose information about climate change risks in their annual reports," Environmental Justice Australia...said in a statement. 

…[T]he bank rejected the claim that it had not complied with reporting requirements. 

"Commonwealth Bank understands that climate change is a topic of public and shareholder interest and we are committed to playing our part in limiting climate change," the statement said. 

The lawsuit singled out a particular project -- a controversial $12 billion coal mine by a large Indian conglomerate... 

Calls for companies to disclose business risks from climate change have grown louder in recent years...