The Church of England Pensions Board (CoEPB) has announced its intention to vote against the re-election of National Grid Chair Paula Rosput Reynolds and CEO John Pettigrew at its annual general meeting (AGM). The decision is based on the energy utility’s failure to provide adequate disclosure on its lobbying activities related to climate change. The votes will be cast before the company’s upcoming AGM scheduled for 10 July. The pensions board will also oppose a resolution proposed by National Grid’s management, seeking shareholder support for large political donations of up to £125,000. National Grid, a focus company for Climate Action 100+ (CA100+) for five years, has failed to commit to transparent disclosures regarding its own climate policy positions and those of its industry associations, despite ongoing engagement efforts. It is now one of only two European utilities engaged by CA100+ that has failed to provide the requested disclosure. “For this reason, we are voting against the re-election of the Chair and CEO, who are responsible for providing clear, timely, and transparent disclosure on important issues to the company’s shareholders,“ said Laura Hillis, Director of Climate and Environment at the CoEPB.
