Glencore, Anglo American and Rio Tinto are now legally obliged to implement climate change resolutions put forward by shareholder coalition ‘Aiming for A’. The resolution was awarded 98 per cent of support votes at Glencore’s Annual General Meeting (AGM) in Zug, Switzerland yesterday. Earlier this year the same climate change proposal was supported by 96 per cent of votes at Anglo American’s AGM and 99 per cent at Rio Tinto’s AGM.
This successfully concludes the second round of climate change resolutions filed in the UK by the ‘Aiming for A’ coalition, which last year secured the passing of shareholder resolutions on climate change at the BP and Shell AGMs.
‘Aiming for A’ shareholder resolutions call on companies to make a step change in the way they disclose to investors their strategy on the risks and opportunities posed by climate change.
The ‘Aiming for A’ coalition was founded by church and charity fund manager CCLA and includes the Local Authority Pension Fund Forum, the largest members of the Church Investors Group, Hermes Investment Management on behalf of its stewardship services clients, Sarasin & Partners, the Pensions Trust and Rathbone Greenbank Investments.
This year’s mining resolutions were co-filed by a much wider group of investors from three continents with assets of over $8 trillion, including some of the world’s largest fund managers and pension funds.
The boards of all three companies recommended that shareholders vote in support of the resolutions.
Edward Mason, Head of Responsible Investment at the Church Commissioners, said: “Having led Aiming for A engagement with Glencore since 2012, I am delighted with the scale of the vote today in favour of enhanced climate change-related disclosure. We are grateful for the support of the board for the resolution.”
Bruce Duguid of Hermes Equity Ownership Services said: “With all three mining sector resolutions passing overwhelmingly, we are creating the ‘new normal’ for reporting on climate change in the UK mining sector, just as we did last year in the oil and gas sector.”
Helen Wildsmith, Stewardship Director at CCLA and founder of ‘Aiming for A’, said: “We are already seeing BP and Shell engaging much more deeply with the energy transition since our resolutions last year and I look forward to seeing the impact that this year’s resolutions have on climate change strategy at Anglo American, Glencore and Rio Tinto.”
‘Aiming for A’ shareholder resolutions are intended to be ‘supportive but stretching’ for companies. They cover five different areas of climate change-related strategy, including reducing operational emissions, maintaining a portfolio of assets resilient to future energy scenarios, and supporting low-carbon energy research and development.
Like our Facebook Page
Can You Use Your PC In an Eco-Friendly Manner?
How Pain Management Hurts the Environment, and What You Can Do to Help
4 Countries That Have Banned Single-Use Plastic
What Is Your Carbon Footprint and How Can You Reduce it?
How Business Leaders Can Positively Impact Water Scarcity
Plant-Based Protein Coffee is Eco-Friendly & Healthy
Eco-Friendly Restaurants That Are Bringing the Outside Inside
5 Environmental Benefits of Custom Manufacturing
How to Reduce the Carbon Footprint of Your Office
Benefits of Starting an Eco-Friendly eCommerce Business
Brian Sheth and Sheth Sangreal Foundation Donate $15 Million to Global Wildlife Conservation
Eco-Friendly Gardeners Can Make Compost from Organic Waste
8 Great Tips to Find an Eco-Conscious Moving Company
Can Employers Help the Planet with Work from Home Policies?
Creating a Green Basement Environment for a Healthier Home
Switching to an Electric Car to Help the Environment? Here’s How to Find the Cheapest Insurance
More People Are Practicing Eco-Conscious Lawn-Care
Choosing the Best Air Filter as Pollution Levels Worsen
9 Tips to Write Stellar Papers as an Environmental Science Major
Why You Need to Know These Hard Facts About Ethical Investing
- Energy3 months ago
How To Choose the Right Solar Inverter for Your Home?
- Energy3 months ago
How to Choose the Best Solar Panel for Your Home
- Environment10 months ago
Importance of Using a Water Purifier in an Area with High Pollution
- Environment3 months ago
Reduce Industry Footprints with Sustainable Material Swaps