4th Mar 2020 09:08
(Alliance News) - Rio Tinto PLC on Wednesday said two resolutions requisitioned by shareholders at an annual general meeting have now been withdrawn.
One of the motions was related to the miner's emissions targets. It called on Rio to "disclose short, medium and long-term targets for its scope 1, 2 and 3 greenhouse gas emissions and performance against those targets".
Scope 1 emissions are related to company vehicles, scope 2 refers to purchased electricity and energy, and scope 3 includes indirect emissions such as employee travel.
The motion called for all targets to be independently verified to ensure they are aligned with climate goals outlined in the Paris agreement.
The other motion to be withdrawn called on Rio to amend its constitution.
It proposed adding a clause which stated: "The company in general meeting may by ordinary resolution express an opinion or request information about the way in which a power of the company partially or exclusively vested in the directors has been or should be exercised. However, such a resolution must relate to a material risk as identified by the company and cannot either advocate action that would violate any law or relate to any personal claim or grievance. Such a resolution is advisory only and does not bind the directors or the company."
The proposals would have been voted on during the Anglo-Australian firm's Rio Tinto Ltd AGM in Brisbane, Australia on May 7.
The Rio Tinto PLC AGM takes place on April 8 in London.
Rio shares were 3.9% higher at 3,970.50 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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