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Glencore shareholders reject requisitioned climate action plan

26th May 2023 16:10

(Alliance News) - Glencore PLC on Friday said that a majority of shareholders rejected a climate action transition plan which had been requisitioned by a group of shareholders.

The Barr, Switzerland-based multinational commodity trading and mining company said 71% of shares cast voted against the resolution, being the only resolution out of 19 that failed to pass at the company's annual general meeting.

However, it noted that 30% of shares cast voted against a resolution approving Glencore's 2022 climate report.

The company said it will continue to engage with shareholders.

Glencore shares were 1.5% higher at 422.80 pence each on Friday afternoon in London, while trading 1.1% higher at ZAR102.40 each in Johannesburg.

By Tom Budszus, Alliance News reporter

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