Glencore PLC shareholders voted 99.96% in favor of a shareholder resolution co-sponsored by the $290.4 billion California Public Employees’ Retirement System, Sacramento, calling for the production and commodities trading company to report on environmental risks and opportunities associated with climate change, according to proxy-voting results released by the company about its annual meeting Thursday.
The C$278.9 billion ($215.5 billion) Canada Pension Plan Investment Board, Toronto; $186.8 billion California State Teachers’ Retirement System, West Sacramento; $178.3 billion Florida State Board of Administration, Tallahassee; C$171.4 billion Ontario Teachers’ Pension Plan, Toronto; and $126.6 billion Texas Teacher Retirement System, Austin; joined CalPERS in voting their shares in favor of the proposal, according to their proxy-voting disclosures.
Anthony Hayward, chairman of the Baar, Switzerland-based Glencore, and Michael Fahrbach, head of sustainability, expressed their support for the proposal after meeting with representatives of the coalition of proponents, a Glencore statement said.
“We applaud the company’s decision to support rather than oppose the resolution which is asking for a report on the risks and opportunities associated with climate change through routine annual disclosures,” a CalPERS statement said.
