Climate Action 100+ (click here) is a five-year initiative led by investors to engage with the world’s largest corporate greenhouse gas emitters to improve governance on climate change, curb emissions and strengthen climate-related financial disclosures. To date, 225 investors with more than USD $26.3 trillion in assets under management have signed on to the initiative....
December 12, 2017
By Nicole Hasham
Shareholders (click here) have turned up the heat on the world's 100 biggest polluting companies including Australian firms BHP Billiton, Wesfarmers and Rio Tinto, in the first coordinated global effort by investors to force corporate action on climate change.
The Climate Action 100+ initiative, to be launched in Paris on Tuesday evening eastern standard time, will target 100 global companies responsible for an estimated 15 per cent of global emissions....
...Ms Herd cited Exxon Mobil, the world's biggest oil company, which was this year forced by a shareholder vote to be more transparent about the impact of climate change on its business.
"Engagement between investors and the companies they own is one of the core foundations of our economy and how it runs," she said.
If a company does not respond to investor demands on climate change, shareholder options include resolutions and votes, and divestment.
Investors who sign up to the effort can nominate companies to be added to the list.
Companies in the sectors of oil and gas, electricity and transport make up the bulk of the 100 companies. It also includes PepsiCo and Nestle, as well as the Wesfarmers group which includes Coles, Bunnings, Kmart, Target and Officeworks, as well as coal mine assets....
