Early 2016, we joined the shareholder coalition called 'Aiming for A', requesting that the companies stress test their business strategies against a scenario where climate change is limited to two degrees Celsius or less as agreed in the Paris Agreement; the first-ever universal, legally binding global climate deal adopted by 195 countries during the Paris climate conference (COP21) in 2015.
The shareholder initiative filed shareholder resolutions at the annual meetings of three of the largest UK-listed mining companies, demanding deeper disclosure of climate change risk and opportunity management. At the annual meetings of Anglo American, RioTinto and Glencore, the 'Aiming for A' initiative won landslide victories with 96 per cent, 99 per cent and 98 per cent of the votes.
Pushing for better transparency among large caps with a high carbon footprint is an important part of our battle for a more sustainable future.
- This is a fantastic example of how shareholders can come together and push for really positive changes. We did this because it’s an obligation to our customers to manage their money in a responsible manner, but we are also convinced that companies have a key role to play in the global energy transition and that they need to address climate change risks in order to generate high returns in the long run, says Sasja Beslik, Head of Sustainable Finance.