Governance issues to be highlighted at Rio Tinto AGM
• Hermes intends to vote against Chairman due to lack of diversity progress
• Joins investor group in calling for further disclosure on climate risks
Ahead of the Rio Tinto AGM tomorrow, Bruce Duguid, Stewardship Director within the Hermes EOS team at Hermes Investment Management, highlights two areas of focus in our engagement with the company.
Environmental risk reporting
The 2017 AGM season marks the first year of new climate change risk reporting requirements for mining companies Anglo American, Glencore and Rio Tinto. This follows the passing of resolutions last year, with the support of more than 95% of shareholders, requesting further disclosure of carbon-risk reporting and the company’s actions to manage them.