Friday, October 22, 2021

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    BHP/Glass Lewis: investors demand more from ESG commitments

    Investors need to spend time on inadequate climate change pledges. Deputy advisor Glass Lewis says: recommendation Shareholders voted against the Miner BHP Climate Change Action Plan, dismissing it as limited in scope, and its goal was Paris Agreement..

    This is a blow to the world’s largest miners. This shows that newborn investors, who have won numerous shareholder proposals, are less willing to wield board-sponsored proposals for decarbonization than compensation.

    Also, you shouldn’t. For many companies, from oil and gas majors to shampoo makers, achieving carbon emissions targets will bring about major strategic changes in what they sell and how they procure. An increasing number of so-called “individual action on climate change” resolutions seek investor approval for plans for action on climate change. According to Insightia, there were 22 times this year. Included were Glencore, Royal Dutch Shell and Rio Tinto. These are often three-year cycles, so it’s important to get them right from the beginning.

    Details are important. Make a sale, which is a common way to emit fossil fuels that emit carbon. BHP has an oil and gas portfolio Independent venture Using Woodside Petroleum, we left 48% of Woodside extended to BHP shareholders.

    Glass Lewis previously recommended that shareholders vote against two other board-sponsored climate proposals, but used science-based agency assessments to make that claim.

    It’s BHP Climate Change Action Plan There is a lack of discussion about emission intensity that can be used by third parties to assess current and future carbon performance.

    According to BHP, Scope 3 greenhouse gases emitted from supply chains and customers will reach nearly zero by 2050. However, the technology does not yet exist, so caution is needed for steelmakers, who account for three-quarters of these emissions.

    Buyers of BHP and its iron ore must fight manufacturing processes that rely heavily on coal. Especially in China, considering that existing factories are relatively young, switching to more environmentally friendly furnaces, such as using hydrogen, is a major issue.

    BHP aims to reduce emissions intensity by 30% by 2030 by improving the quality of mined iron ore and working with the industry on more environmentally friendly processes. It’s a wriggling room that investors no longer allow.

    The Lex team is interested in hearing more from our readers. In the comments section below, please tell us what you think of BHP’s climate change plan.

    BHP/Glass Lewis: investors demand more from ESG commitments Source link BHP/Glass Lewis: investors demand more from ESG commitments

    The post BHP/Glass Lewis: investors demand more from ESG commitments appeared first on California News Times.

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