Mining News

Investor group to flag concern over Glencore’s climate efforts – sources

The world’s biggest climate action investor group will back a shareholder challenge to Glencore’s slow progress in scaling back coal production at the miner and trader’s annual general meeting on April 28, two sources familiar with the matter said.

Climate Action 100+ (CA100+) will flag to members – who manage $68-trillion in assets and can put pressure on the company to change its strategy – its concern that Glencore’s emissions targets and coal production are not consistent with the world’s climate goal, the sources said.

While there is no obligation on shareholders to vote in a certain way based on the CA100+ view, the public move by the group is an important one as it reverses previous support for Glencore’s strategy.

Share this article