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> CompaniesGlencore PLCFollowHSBC Holdings PLCFollowMELBOURNE, Jan 5( Reuters) - International investors with $ 2.2 trillion in assets will ask commodity giant Glencore Plc( GLEN.L) to show how its development of thermal coal mines meets the goals of the Paris climate accord to keep global warming to 1.5 degrees.Glencore is one of the worlds largest producers and traders of the fossil fuel used in power generation and record prices of the commodity helped add some $ 10 billion to its earnings in the six months to June. read more Major institutional investors including Europes Legal and General Investment Management( LGIM) said in a joint statement they have cofiled a shareholder resolution that asks Glencore to reveal how its production and capital expenditure plans align with the Paris goals and the International Energy Agency Net Zero Emissions pathway.Having both invested in and engaged with Glencore over many years, a higher degree of transparency is necessary in order to clarify how the company’s exposure to thermal coal is aligned with the 1.5 C pathway and corresponds to its net zero commitment.
Found on Reuters 1 year ago
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