Investors managing about $340 billion of assets are calling for the biggest coal miners to show what risks the fight against climate change pose to their businesses.
Aiming for A, a group including the Local Authority Pension Fund Forum and Hermes Investment Management, plan to submit shareholder resolutions this month to Glencore Plc, Rio Tinto Group and Anglo American Plc, according to an online statement. The aim is to help accelerate companies’ participation in a move to a low-carbon economy.
“These resolutions are a vital opportunity for shareholders to signal their support for the development of low-carbon transition plans,” said Helen Wildsmith, who founded Aiming for A and is a director at investment manager CCLA. “We want Anglo American, Glencore and Rio Tinto fully to demonstrate awareness of the risks and opportunities that climate change poses to their businesses.”
CCLA manages investments for charities, religious organizations and the public sector.