CalPERS Urges Investors to Vote for Climate Change Reporting at Anglo American Plc.
April 19, 2016
Communications & Stakeholder Relations
Brad W. Pacheco, Deputy Executive Officer
Wayne Davis, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer
SACRAMENTO, CA - The California Public Employees' Retirement System (CalPERS) urges fellow shareowners of the global mining company Anglo American Plc. (Anglo American) to vote in favor of a proxy ballot resolution requiring the company to report on environmental risks and opportunities associated with climate change.
The resolution, formally titled Resolution #21, was co-filed by CalPERS and a coalition of asset owners assembled by CCLA Investment Management. Anglo American's management supports the resolution.
"Climate change is an investment issue," said Anne Simpson, CalPERS Director of Global Governance. "We need robust reporting by companies to ensure their long term strategies are in line with the Paris Agreement, which sets out the world's goal to limit global warming."
The resolution highlights five specific areas:
- Ongoing operational emissions management;
- Asset portfolio resilience to the International Energy Agency's scenarios;
- Low-carbon energy research and development and investment strategies;
- Relevant strategic key performance indicators and executive incentives; and
- Public policy positions relating to climate change
CalPERS believes companies should provide accurate and timely disclosure of environmental risks and opportunities associated with climate change. As outlined in our Investment Beliefs (PDF), we believe effective management of environmental factors, including those related to climate change risk, increase the likelihood that companies will perform well over the long-term.
To learn more, view the Anglo American Plc. Shareowner Alert (PDF).
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for nearly 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $295 billion. For more information, visit www.calpers.ca.gov.
CalPERS actively engages with companies to protect the health of our investments. Learn how our proxy voting efforts influence corporate governance.