Glencore PLC | Thermal Coal at Glencore plc
How other organisations have declared their voting intentions
|Organisation name||Declared voting intentions||Rationale|
|Fulcrum Asset Management LLP||For|
|Border to Coast Pensions Partnership Limited||For|
|Scottish Widows (part of Lloyds Banking Group)||For||Scottish Widows|
|Pensionskasse des Bundes PUBLICA||For|
|Man Group||For||The resolution plays a crucial role in ensuring Glencore demonstrates Paris alignment of its forward coal production, particularly as Glencore’s recent Climate Report released in March 2023 did not offer the disclosures that were sought.
Glencore's recent merger bid for Teck Resources and the proposed coal demerger only strengthens the need for greater transparency on how Glencore’s coal business aligns with Paris.
It is also noted that nearly one quarter of shareholders rejected its climate plan at the 2022 AGM.
|Allianz Global Investors||For|
|Legal & General Investment Management (Holdings)||For||Given its diversified business, we want to see Glencore playing a leading role in the energy transition as the global economy decarbonises. There is currently a question mark over exactly how the company’s net zero commitments align with its thermal coal production outlook. This is why we have collaborated with like-minded investors to seek more disclosure by filing this proposal. For more information on our rationale please see:
|CoreCommodity Management, LLC||For|
|Irish Life Investment Managers||For|
|EFG Asset Management||For|
|Rathbones Group Plc||For|
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