It may not sound like a lot, but the 18 percent of Rio Tinto shareholders that voted in favour of a resolution that effectively called on the company to do more to address climate change have launched a snowball at the top of a large mountain.
The vote at Rio’s May 3 annual general meeting called upon the world’s second-largest mining company to review its membership of the Minerals Council of Australia (MCA) and other lobby groups.
While the vote was easily defeated, it sends a very clear message to natural resource companies that investors are going to be paying more attention to environmental credentials in the future.
The 18 percent support was said by the resolution’s lead sponsor, Brynn O’Brien of the Australasian Centre for Corporate Responsibility, to be the “highest vote ever on a similar issue,” the Sydney Morning Herald reported. Read More