RISK: Global investors, including Canada Pension Plan, seek mining climate plans

Coalition looks to Rio Tinto, Glencore and Anglo American for answers

Last fall, Mark Carney, the current governor of the Bank of England and former governor of the Bank of Canada, warned the investment and insurance communities about the potential for stranded assets — unburnable reserves of coal, oil and gas — on a warming planet limited by future carbon budgets. Now the Canada Pension Plan Investment Board and Quebec’s Caisse de depot are among institutional investors seeking greater transparency from three of the world’s biggest mining conglomerates on how they’re dealing with climate change.

The “strategic resilience” resolutions put forward today by a coalition of international investors ask giants Rio Tinto, Glencore and Anglo American for more information on the risks and business opportunities from a changing climate, starting in 2017.

The resolutions follow a similar move last year that targeted oil giants BP and Shell.

Four of the biggest 10 pension funds in the world are part of the British-based “Aiming for A” investor coalition, including the Canada Pension Plan and its $272.9 billion in assets.

Investors say a new international climate deal brokered in Paris in December is putting added pressure on companies to assess their strategic resilience in a carbon-constrained world.


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