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Authors

  • Bruce Duguid
    National Grid is one of the world’s largest publicly listed utilities. It focuses on the transmission and distribution of electricity and gas in the UK and the US. Background The company is committed to building a long-term sustainable business. In recognition of the risks to its business from climate change, it has set ambitious greenhouse gas reduction targets to reduce its emissions by 45% by 2020 and by 80% by 2050, compared to levels in 1990. However, two major storms in the US in October 2012 and February 2013, as well as a number of smaller storms, had a material effect on its results, reducing its operating profit by £136 million (€155 million/$183 million) in the reporting year 2012/13. In addition, between 2009/10 and 2011/12, its lost time injury frequency rate rose from 0.15 to 0.18, with three fatalities occurring in 2011/12.
  • Bruce Duguid
    Shell is one of the largest oil and gas companies in the world, with upstream and downstream operations in over 70 countries. We have engaged with the company since 2003 on a broad range of issues, including corporate governance, the management of environmental risks and, in particular, the avoidance and response to oil spills in remote locations, such as the Arctic, as well as the impact of its oil sands operations.
  • 17/10/2016
    Case Study
    Bruce Duguid
    Anglo American is a large, diversified mining company listed on the London Stock Exchange with a secondary listing in Johannesburg. Founded in South Africa, it has been mining for around 100 years, becoming the largest producer of platinum, as well as a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal. As an energy-intensive company with an annual carbon footprint of approximately 20 million tonnes CO2 and with an exposure to coal mining, investors have for a number of years been concerned about the company’s exposure to the risks associated with climate change.
  • 21/09/2016
    Environment
    Bruce Duguid
    Over the last couple of years, we have seen real progress in our engagement with companies on climate change. The shareholder resolutions put together by the Aiming for A investor coalition, which now cover seven companies in the extractives industry, are helping to define a new industry standard for reporting on climate change. Meanwhile, with the 2015 Paris Agreement, global leaders have finally got their act together on climate change policy.  The agreement sets out the ambition to limit the increase in global temperature as a result of climate change to at least 2°C and a framework for ratcheting up national policy over the coming years.