Glencore PLC | To approve the Directors’ Remuneration Report

Status
Filed
AGM date
Previous AGM date
Proposal number
13
Resolution details
Company ticker
GLEN:LN
Lead filer
Momentum Metropolitan Life Ltd
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Climate change
  • Remuneration or pay
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Materials
Company HQ country
Switzerland
Supporting materials
Resolved clause
To approve the Directors’ Remuneration Report (excluding the Directors’ Remuneration Policy) as set out in the 2024 Annual Report.
Supporting statement
The remuneration report includes discretionary clauses that do not align with the Momentum Proxy Voting Policy’s requirement for transparent and rule-based executive pay structures. There are no explicit climate-related or Just Transition metrics linked to executive remuneration. The absence of these metrics limits accountability for emissions reduction and fails to ensure that leadership is incentivized to deliver a fair and inclusive transition for employees and communities affected by the company’s operations, particularly in regions exposed to significant transition risks such as South Africa, Colombia, and the Democratic Republic of Congo.
Executive remuneration frameworks should integrate measurable climate and social transition performance indicators to align incentives with long-term sustainable business outcomes. The annual report can be found at: https://www.glencore.com/.rest/api/v1/documents/static/7a4295e4-3674-45e9-94c4-7d7fb285faff/GLEN-2024-Annual-Report.pdf for reference.

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