The Australia and New Zealand Banking Group's 2017 annual general meeting yesterday was the final major bank set piece for the year. The retail investor shareholders who attended clearly took their investments seriously, and were keen to have their say on a wide range of topics.Two major themes emerged.One was how to reset performance expectations; the other was increased exposure to climate change.Chairman David Gonski set the tone in his opening remarks, which included these observations:"While criticism of banks is not new, in the rapidly changing environment that I have described, we acknowledge our industry has been slower than it should to be more transparent, to listen more to the views of the community and to consistently treat its customers fairly and responsibly." Gonski also attempted to pacify shareholders over the settlement ANZ negotiated with the Australian Securities and Investments Commission over alleged bank bill swap rate manipulation. He noted that this involved a payment of A$50 million and an acknowledgement, in a statement of agreed facts lodged with the Federal Court, that "a small number of our traders had attempted to act unconscionably on ten occasions in the 18 months to February 2012"."Some shareholders have asked why ANZ settled this case when they see another bank fighting in court on the same issue," Gonski said. "We believed settlement was a sensible step taken in the best interest of the bank and its all stakeholders.""The people running our markets business and BBSW trading at the relevant time are no longer with ANZ. Other staff have been dismissed for breaching our Code of Conduct and there has been claw-backs of bonuses paid in the past."The tone of the AGM was not all gloom and disputes with regulators - although good news seemed a matter of opinion."Our Common Equity Tier One capital ratio reached 10.6 per cent at the end of the year and … already meets APRA's unquestionably strong 2020 target," Gonski said."Given this, we announced [on 18 December] that ANZ will undertake a A$1.5 billion share buyback early in 2018. The buyback follows ANZ completing the sale of our 20 per cent shareholding in Shanghai Rural Commercial Bank."This action provoked a question from a representative of the Australian Shareholders Association, asking why not pay the excess funds as a dividend. Gonski replied that it would have been an unfranked dividend, and the board considered it would be better for shareholders to return capital, while reducing the number of shares.Another series of questions centred on climate change, asking the board and the company's auditor, KPMG, whether it's considered a material risk.Gonski replied that this topic is treated in the Group's annual report under credit risk, "which for a bank is one of the most important - and within that sits climate risk, and how it affects those we are lending to". The senior managers were asked about readiness to the new Basel IV regulations and the proposed TLAC (Total loss-absorbing capacity) regulations, and what effect these would have on the ANZ