HSBC AM and LGIM among coalition challenging Glencore thermal coal production

Questions Paris compatibility

HSBC Asset Management and Legal and General Investment Management are among a group challenging Glencore over its thermal coal production and impact on the planet.

The coalition, which collectively represents $2.2trn of assets under management, has co-filed a shareholder resolution with the world's largest coal trader seeking transparency on how its thermal coal production aligns with the Paris Agreement's 1.5-degree target. Stock Spotlight: Glencore share price shrugs off 'neo-colonial' corruption case It marks the first climate resolution focused on Glencore's thermal coal production and follows the recent challenges for the firm, which saw almost 25% of shareholders reject its climate plan in 2022. Co-filed with the Australasian Centre fo...