Fresh on the back of a shareholder action that forced BHP to give the Minerals Council of one year to end its hardline coal advocacy, the Australasian Centre for Corporate Responsibility (ACCR) is recruiting shareholders to put a similar proposal to Rio Tinto.
“The Australasian Centre for Corporate Responsibility met with a Rio team today and presented them with shareholder concerns around their financial support for trade associations involved in disrupting progress on Australian and global climate policy,” said Executive Director Brynn O’Brien.
“Rio’s ongoing membership of the MCA exposes the company to significant risks, and shareholders have an interest in seeing appropriate governance arrangements put in place.
“European investors have so far been more willing to engage in strong action on climate responsibility than their Australian peers. Rio is headquartered in the UK, which may mean that it will experience more detailed scrutiny of its response to this issue,” said Ms O’Brien.
The ACCR has until the end of February to recruit 100 Rio Tinto shareholders to co-file a potential resolution.
Link to more information: http://www.accr.org.au/rio_tinto