Glencore chairperson Tony Hayward
Shareholders of diversified miner Glencore will on April 29, during the group’s annual general meeting (AGM), be given the opportunity to vote on the approval of the ‘Climate Action Plan: Pathway to Net Zero’ report published by the company on December 4.
The company’s climate action plan sets out its ambition and commitment to become a net-zero emissions company by 2050 or earlier, in line with the Paris Agreement.
In a letter, chairperson Tony Hayward says Glencore’s board recognises the importance of climate policy to shareholders and their desire to have the opportunity to directly advise the company of their opinion on its plans and their implementation.
Glencore proposes to follow the same shareholder engagement model that it uses for remuneration, by which a plan is issued at least every three years and a separate report is published yearly on the implementation of that plan, each of which is put to a shareholder vote.
Hayward says Glencore intends to issue a new climate plan at least every three years, and, whenever one is published, a resolution will be tabled at the subsequent AGM.