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City of London

Activist Bluebell Adds Pressure on Glencore to Fix Coal Unit

  • Investor wants a clear plan for winding down business
  • Some Glencore shareholders protested climate proposal in April
Coal was among Glencore’s most profitable businesses last year.

Coal was among Glencore’s most profitable businesses last year.

Photographer: Brendon Thorne/Bloomberg

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Activist investor Bluebell Capital Partners has again asked Glencore Plc to overhaul its climate policy, while seeking support from other shareholders to push for reform at the commodities giant.

London-based Bluebell wants Glencore to put forward a plan at next year’s annual meeting to separate its coal activities, according to a June 8 letter. Bluebell also asked for more detail on the firm’s pathway to net zero and for an independent chairman of the health and safety, environmental and communities committee.