Glencore Coal Production Targeted by Shareholder Resolution

Glencore investors have filed a shareholder resolution to drive greater disclosure of its coal production plans. The vote will occur at the company’s annual meeting in May. A global coalition of institutional investors, including Legal & General Investment Management (LGIM), HSBC Asset Management and Australian super fund Vision Super, are calling for greater transparency on how the company’s projected thermal coal production aligns with the Paris Agreement’s objective to limit a global temperature increase to 1.5°C. Dror Elkayam, Global ESG Analyst – Investment Stewardship at LGIM, said: “Having both invested in and engaged with Glencore over many years, a higher degree of transparency is necessary in order to clarify how the company’s exposure to thermal coal is aligned with the 1.5°C pathway and corresponds to its net zero commitment.”  

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