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Investors vote for climate transparency

Mining giant Anglo American’s shareholders have voted overwhelmingly for more climate change transparency from the company.

The shareholder resolution, which requires greater transparency on several climate issues, was passed with 96.25% of the vote. ClientEarth helped the ‘Aiming for A’ coalition with the filing of the resolution.

Alice Garton, Company and Financial lawyer for ClientEarth, said: “Shareholders have helped Anglo American take the first step towards more transparency on climate change. The tide is turning for carbon intensive companies.

“Investors know the companies of the future will be those that survive the zero net carbon transition by addressing climate risk head on in strategic business decisions. It is good to see Anglo American taking this first step and we will be monitoring their reporting to make sure they continue down this path.”

Climate transparency

The same resolution will go before shareholders at Glencore and Rio Tinto.

The resolution reads:

Special resolution – strategic resilience for 2035 and beyond

“That in order to address our interest in the longer term success of the Company, given the recognised risks and opportunities associated with climate change, we as shareholders of the Company direct that routine annual reporting from 2017 includes further information about: ongoing operational emissions management; asset portfolio resilience to the International Energy Agency’s (IEA’s) scenarios; low-carbon energy research and development (R&D) and investment strategies; relevant strategic key performance indicators (KPIs) and executive incentives; and public policy positions relating to climate change.

“This additional ongoing annual reporting could build on the disclosures already made to CDP (formerly the Carbon Disclosure Project) and/or those already made within the Company’s Annual Report and Sustainable Development Report.”

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Dino Reichmuth