Already a subscriber?A big European investor says they will back Glencore chief executive Gary Nagle’s strategy for the future of the company’s coal mines so long as the strategy remains aligned to a net-zero emissions outcome.
it was willing to put its trust in the man whose previous role was running the coal division from Sydney. The Sydney fund posited that Glencore would therefore attract better valuations if it kept the coal division and shifted its primary listing to the ASX. While Glencore has vowed to consult with investors about the plan to demerge coal and only push ahead if shareholders support it, the management and directors are understood to be less interested in the idea of listing on the ASX.Mr Floren said AP7 planned to stay on the Glencore register long-term so long as it was seeing action on climate change.
Source: News Formal (newsformal.com)
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