Glencore Says 23.72% of Shareholders Voted Against Climate Progress Report

By Jaime Llinares Taboada

Glencore PLC said Thursday that a minority of its shareholders voted against the company's 2021 climate progress report.

A resolution to approve the report was passed with 76.28% of support at the annual general meeting.

The commodity mining and trading group said that it will continue to engage with shareholders on its climate-transition action plan, to ensure that their views are fully understood.

Last year, Glencore agreed to acquire the remaining 67% stake in the Cerrejon coal mine in Colombia for $588 million. Former Chief Executive Ivan Glasenberg argued then that selling fossil-fuel assets and making them someone else's issue wasn't the solution to reduce emissions.

In 2021, Glencore produced 103.3 million metric tons of coal and 5.3 million barrels of oil-equivalent.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

April 28, 2022 11:44 ET (15:44 GMT)

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