LONDON (Reuters) – About 24% of investors voted against Glencore’s climate progress report at the miner and trader’s annual general meeting on Thursday, after some cited slow progress in scaling back coal production.
Glencore said last year it planned to hit net-zero carbon emissions by 2050 and responsibly run down its mines producing thermal coal, the most polluting fossil fuel, by the mid-2040s. Its 2020 climate plan had received 94% of votes in favour from shareholders at its 2021 annual general meeting.
With support for its efforts so far now below the satisfactory 80% threshold, the company must consult shareholders to understand their concerns.
(Reporting by Clara Denina; Editint by Edmund Blair)
