Largest pro environment vote by Australian shareholders

Congratulations to the Australasian Centre For Corporate Responsibility for another landmark vote. This time the company was RIO.

Another brilliant example of the power of using your shares to drive corporate change in Australia. Largest ever shareholder vote acheieved in Australia's history on an environmental topic. Congratulations to ACCR. If you have direct shares sign up with them to continue the fight!

Some telling comments from ACCR to RIO at the board meeting;

"A note about what we asked for, and how you have responded:

  • We asked for the most basic transparency about your relationships with fossil fuels lobbyists: a full list of the organisations you belong to and the cost of those memberships. You have resisted.
  • We asked for an evaluation of the advocacy done by these organisations, using shareholder funds, and their impacts on the company‚Äôs interests, but you have resisted.
  • We asked for the board to disclose to shareholders the criteria against which relationships with lobbyists would be ended. For example, if a lobby group campaigns for a government to exit the Paris agreement on climate change, will you exit? Even on this measure, You have resisted."

Another win for bank customer action

Good step forward in the news this morning - NAB have announced no more lending for new coal projects. I'll guarantee you that customer pressure brought this about. Moving banks (or thinking about moving) has all the banks nervious about lending to unacceptable projects. Get active with your bank to drive change. If they lend to coal, email them today and ask what they will do. Stuart