Feb 01, 2016
By Michael Kramer
The Canada Pension Plan Investment Review Board is one of the institutional investors demanding greater transparency from three of the earth’s biggest mining conglomerates – on how they’re dealing with climate change.
Rio Tinto, Glencore and Anglo American are being asked by a coalition of investors to provide more information on the risks and business opportunities that a changing climate may bring.
The “Strategic Resilience” resolutions come after a similar move last year – targeting Shell and British Petroleum.
Four out of the biggest ten pension funds in the world are part of the British-based “Aiming for A” investor coalition.
The CPP Investment Review Board is part of that coalition – with the Canada Pension Plan holding almost $273 billion in assets.
A new international climate deal brokered in Paris recently is putting added pressure on companies – to look at their strategic resilience in a world of carbon-constraint.
Mark Carney, the Canadian governor of the Bank of England – has warned the investment and insurance communities about the potential for stranded assets – such as unburnable reserves of coal, oil and gas – on a planet with limited carbon budgets in the future.