The initiative has evolved its core goals, improved and expanded the ways investors can participate, and enhanced the investor engagement model. The new phase, running until 2030, intends to inspire a global scale up in active ownership, markedly shifting the focus from corporate climate-related disclosure to the implementation of climate transition plans.
As providers of transition materials, mining companies play a vital role in decarbonisation. Some are, however, exposed to significant transition risks. For the first time, this standard will provide investors with the necessary metrics to help assess diversified mining companies’ transition plans to net zero. The Standard will now enter pilot mode, in which metrics will be tested for practicality and feed into a final metrics list. Assessment results from this pilot will enrich investor engagements with new, impactful insights.
This proxy season, Climate Action 100+ signatories engaging companies through the initiative have increasingly used the flagged voting platform as a tool in their engagements. Here is a top-level view of the initiative’s findings.
Electric utilities are in a position to prosper during the energy transition – since decarbonization is a huge opportunity to deploy capital and grow earnings. Investors, however, need disclosure on climate lobbying so that they can judge whether companies are aligning their lobbying activities with ambitiously pursuing this multi-billion-dollar opportunity and are not lobbying against their best interests.
A brilliant outcome that shows the positive power of shareholder engagement through Climate Action 100+, as National Grid commits to conduct a climate lobbying review following engagement from the Church of England Pensions Board and AP7 on this critical issue.
Draft standard enters next phase of consultation until June 2023, with final version scheduled for publication in Q3 2023. The standard will provide investors with a new tool to help assess diversified mining companies' transition plans to net zero.
Incitec Pivot’s recent climate commitments and potential pathway to net zero are welcomed by investors engaging with Incitec Pivot through Climate Action 100+
Flagged director votes at Chevron and Volkswagen highlight director accountability, urging corporate boards to stop undermining the energy transition with obstructive lobbying; and at Valero to start envisioning how they can succeed in a clean energy future.
Planning for a Just Transition is no longer a trade off with the necessary pace of decarbonization, but a vital consideration on the route to net zero. Read more about the Just Transition here as part of our proxy season explainer series.
What's an ARO? As Climate Action 100+ release more flagged votes this week, the initiative continues its explanatory series for the fast approaching proxy season. This week's article covers climate accounting and asset retirement obligations.
In consultation with investor signatories, the initiative releases today an updated Benchmark (Benchmark 2.0) to ensure that it continues to effectively support investor engagements with focus companies during this critical decade. The enhancements made intend to embed a stronger focus on emissions reductions, alignment with 1.5°C pathways and the robustness of transition plans.
With the first round of flagged votes released Monday, Climate Action 100+ continues its explanatory series on all things proxy season. This week's article covers investor approaches to climate lobbying, including climate lobbying disclosure proposals.
As the 2023 North America and Europe proxy seasons approach, Climate Action 100+ will begin to flag votes pertaining to climate action. But what does it all mean? Below we cover some of the frequently asked questions to demystify the process.