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Investors With $11 Trillion Urge Miners to Cut Lobby Funding

  • Australian miners must share lobby groups’ views: investors
  • BHP has said lobby groups provide a wider industry benefit
Photographer: Taylor Weidman/Bloomberg

Investors holding $11 trillion in assets have told the Australian mining industry to stop funding lobby groups that promote policies inconsistent with the goals of the Paris climate accord.

In an open letter, investors including Aberdeen Standard Investments, M&G Investments and Legal & General Investment Management said that all lobbying by third parties should be consistent with mining companies’ views and producers should exit lobby groups if this isn’t the case.