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ClientEarth has written to Glencore to warn of the potential legal risks arising from overoptimistic demand forecasting.
In our opinion some of the statements made in Glencore’s 2016 Annual Report:
• rely on assumptions about the future for coal markets (particularly thermal coal) that
have been challenged by independent expert analysis;
• omit information about significant market trends that may depress demand for its coal
products; and
• may, therefore, provide investors with a misleading impression of the impact of the low
carbon transition on Glencore’s coal business.
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