Rio Tinto plc (UK) | Approval of potential termination benefits

Status
98.92% votes in favour
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
RIO
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
  • Remuneration or pay
Filer type
Management
Company sector
Materials
Company HQ country
United Kingdom
Supporting statement
Sarasin & Partners have highlighted this proposal which will be put forth at Rio Tinto’s upcoming 2023 AGM.

Access the full details here: https://sarasinandpartners.com/stewardship-post/rio-tinto-2023-agm-how-we-are-voting-for-net-zero-accounting/#storeindividual

While scope 1 and 2 targets and scope 3 goals are now part of the remuneration, with an increased weight of 10% of the short-term incentive plan (STIP) component, we would like to see a 1.5°C-underpin introduced to ensure no performance-related pay is awarded for non-aligned performance.

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