Rio Tinto said on Monday it would recommend that shareholders vote against a res...
MELBOURNE - Rio Tinto said on Monday it would recommend that shareholders vote against a resolution requiring the miner to report its direct emissions and those of its customers in greater detail.
Those plans would include short-, medium- and long-term targets to reduce scope 1, 2 and 3 greenhouse gas emissions, and detailed strategies to meet the targets in each annual report starting from 2020, according to the proposed resolution. Rio Tinto, which released its own climate change report last month, advised voting against the plan because it was not in control of its customers emissions, and because an analysis it was currently undergoing was based on a different framework.
“By recommending shareholders vote against this resolution, Rio Tinto has failed to take the opportunity to assure shareholders that its new emission reduction targets will be entirely consistent with the climate goals set out in the Paris Agreement,” Will van de Pol at Market Forces told Reuters.
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