Pennon Group Plc | Non-binding advisory vote on climate-related financial disclosures at Pennon Group Plc
How other organisations have declared their voting intentions
| Organisation name | Declared voting intentions | Rationale |
|---|---|---|
| THEMATICS Asset Management | For | |
| Ircantec | Against | Pennon Group has set a Net Zero target by 2045, with interim goals for 2030 covering scopes 1 and 2 for three subsidiaries. While near-term targets are SBTi-validated and aligned with a 1.5°C pathway, the long-term ambition lacks clarity and official validation. Scope 3 emissions, which represent 84% of the total, are only partially addressed, with major categories excluded and no short-term reduction targets. Although some progress has been made—such as reductions in scopes 1 and 2, renewable electricity targets, and supplier engagement—the overall climate strategy lacks transparency, detailed action plans, and full value chain coverage. The absence of quantified contributions per action and limited CAPEX alignment further weaken the credibility of the transition plan. Given these gaps, Ircantec will vote against the Say on Climate resolution, while recognizing Pennon’s transparency efforts and encouraging stronger long-term commitments and full scope 3 integration. |
DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.
Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.
Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.