• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Businessperson holding a money bag with the Indian Rupee symbol, alongside a stack of cardboard boxes. - Supply Chain News

BlackRock and MFS Investment Management Challenge Glencore’s Climate Strategy

09/10/2023
Innovative Filtrex Techno Engineering India Pvt. Ltd. Earns Nomination for Go Global Awards 2025

Innovative Filtrex® Expands Global Presence with Sustainable Engineering and Clean Energy Solutions

07/07/2025
Innovative Filtrex Techno Engineering India Pvt. Ltd. Earns Nomination for Go Global Awards 2025

Innovative Filtrex Techno Engineering India Pvt. Ltd. Earns Nomination for Go Global Awards 2025

07/07/2025
Q2 U.S. Auto Sales Grow, While Tariffs Threaten Higher Prices

Q2 U.S. Auto Sales Grow, While Tariffs Threaten Higher Prices

07/03/2025
Rising Import Costs Put Pressure on U.S. Restaurants Amid Tariffs

Rising Import Costs Put Pressure on U.S. Restaurants Amid Tariffs

07/03/2025
Vietnam Trade Deal Secured as U.S. Prepares for Tariff Changes

Vietnam Trade Deal Secured as U.S. Prepares for Tariff Changes

07/03/2025
U.S. and Vietnam Reach Trade Agreement Including New 20% Tariff on Imports

U.S. and Vietnam Reach Trade Agreement Including New 20% Tariff on Imports

07/03/2025
Uncertainty Grows as July 9 Tariff Deadline Nears Amid Ongoing Trade Talks

Uncertainty Grows as July 9 Tariff Deadline Nears Amid Ongoing Trade Talks

07/03/2025
Two Star Safaris Ltd: Six Years of Growth, Impact, and Global Reach

Two Star Safaris Ltd: Six Years of Growth, Impact, and Global Reach

07/04/2025
Two Star Safaris Limited Nominated for 2025 Go Global Awards in London

Two Star Safaris Limited Nominated for 2025 Go Global Awards in London

07/02/2025
Vidushi Infotech Powers Global Growth with AI-Driven IT Solutions and 22 Years of Expertise

Vidushi Infotech SSP Pvt. Ltd. Nominated for Go Global Awards 2025 – Set to Join Global Tech Leaders in London

07/02/2025
Vidushi Infotech Powers Global Growth with AI-Driven IT Solutions and 22 Years of Expertise

Vidushi Infotech Powers Global Growth with AI-Driven IT Solutions and 22 Years of Expertise

07/04/2025
PRINTCO SRL Nominated for 2025 Go Global Awards in London

PRINTCO: Romania’s Packaging Powerhouse Pioneering Innovation and Sustainability

07/04/2025
supplychainreport
Monday, July 7, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

BlackRock and MFS Investment Management Challenge Glencore’s Climate Strategy

by Arvie I
09/10/2023
in Environmental Policies, Sustainability & Ethics

In a notable development at Glencore’s annual general meeting this year, BlackRock and MFS Investment Management, two of its largest institutional shareholders, voted against the company’s climate plan. This decision highlights a growing concern among investors regarding environmental policies.

Glencore, recognized as the world’s most profitable coal miner, has been under scrutiny from its investors for its strategies to reduce emissions while maintaining coal production. Despite this, Glencore’s climate report received 70% approval, although dissent rose to 30%, an increase from 24% in the previous year.

YOU MAY ALSO LIKE

Considaret Clk Group Denmark Nominated for Go Global Awards 2025

FlavAir StyX from Denmark’s Considaret Clk Group Expands Worldwide with Natural Anti-Addiction Filters

BlackRock, holding an 8.2% stake in Glencore and being its third-largest shareholder, cited inconsistencies in Glencore’s environmental strategy as the reason for its opposition. MFS Investment Management, with a 1.1% stake, also expressed similar concerns.

Prior to the AGM, Glencore attempted a takeover of Teck Resources, a Canada-based coal and metals miner, which was ultimately rejected. However, discussions continue about Glencore potentially acquiring Teck’s coal operations. Glencore has plans for net zero emissions by 2050 and aims to reduce its emissions by 15% by 2026 from a 2019 baseline.

Glencore’s total emissions for 2022 were approximately 370 million tonnes of carbon dioxide equivalent, mainly from indirect emissions due to coal burning by its customers.

Gary Nagle, Glencore’s chief executive, asserted that the vote on the climate report reflected strong shareholder support, attributing the increased dissent to what he described as a superficial evaluation process by some ESG (Environmental, Social, and Governance) focused entities.

Another shareholder resolution, demanding greater clarity on Glencore’s coal strategies, also encountered significant opposition, with 29% in favor and 71% against. This resolution was backed by Legal and General, State Street, and HSBC Asset Management, though none of Glencore’s major institutional shareholders, including BlackRock, supported it.

Following the AGM, Glencore is engaging in consultations with key shareholders about its climate strategy and the shareholder resolution.

Notably, Glencore’s top shareholders include current and former directors, with former CEO Ivan Glasenberg holding the largest share of 9.8%. These private holdings are typically not listed in public shareholder registries unless they constitute over 3% of the company’s shares.

Stay current with supply chain report news at The Supply Chain Report. For international trade tools, see ADAMftd.com.

#GlencoreAGM #BlackRock #MFSInvestmentManagement #ESGConcerns #ClimatePlan #CarbonEmissions #EnvironmentalStrategy #GlencoreClimateReport #NetZeroBy2050 #TeckResources #InvestorScrutiny #CoalProduction #GlencoreStakeholders #GreenwashingDebate #GlencoreClimateStrategy #ShareholderResolution #EnvironmentalImpact #EmissionReduction #SustainableInvesting #ESGInvesting #GlobalCoalMining

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.