Glencore, a commodity trading and mining company, has announced it will put its climate plan to a shareholder vote at its upcoming annual general meeting, following years of engagement by institutional investors coordinated by the Climate Action 100+ group.
Carlota Garcia-Manas, senior responsible investment analyst at Royal London Asset Management, said: “Glencore’s move to bring its climate transition plan to an immediate vote with annual reviews of its progress is another significant step taken in the company’s climate evolution.
“This follows its February 2019 statement of support for the goals of the Paris agreement, and its Net Zero 2050 commitment in December 2020. Glencore is one of a few companies leading the way and through our investor engagement we expect many more to follow.”
Stephanie Pfeifer, chief executive of the Institutional Investors Group on Climate Change and Climate Action 100+ global steering committee member, noted Glencore was the third company, after Unilever and Shell, to agree to a vote on their transition plan following investor dialogue with Climate Action 100+ signatories. She called on others to follow their lead.
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