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Church Pension to Vote Against Miners Shunning Waste Standard

Corporate boards are under increasing pressure to improve the safety of their mining activities.

Adam Matthews, chief responsible investment officer at the Church of England Pensions Board.

Adam Matthews, chief responsible investment officer at the Church of England Pensions Board.

Photographer: Betty Laura Zapata/Bloomberg

The Church of England Pensions Board  plans to get tough with mining companies that haven’t signed up to a safety standard it played a key role in creating.

The $4.7 billion fund, which manages the retirement savings of the Anglian clergy, said in a statement Tuesday that it will vote against the chairs of corporate boards who haven’t committed to implementing a global industry standard for managing mine waste facilities known as tailings dams. The Pensions Board set up and helms the Investor Mining and Tailings Safety Initiative, a coalition of investors that together oversee $20 trillion of assets and have pushed for improvements in mine safety.