ANZ Bank is facing mounting pressure to disclose in its annual report risks relating to the loss of biodiversity, after a shareholder accused it of slipping behind rivals as global regulators increase focus on financial reporting around impacts on nature.

Melbourne-based law firm Equity Generation Lawyers, on behalf of Canberra resident and ANZ shareholder Catherine Rossiter, wrote to ANZ Bank last week arguing its duties under the Corporations Act required its directors’ report to disclose that biodiversity and nature loss represented a material risk.