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Church of England to file shareholder resolutions at BP, Shell AGMs

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first_imgEdward Mason, the Church Commissioners’ head of responsible investment, said in a Church of England blog post: “It is clear from the latest assessment report of the Intergovernmental Panel on Climate Change (IPCC), released this year, that the world is on a path towards dangerous climate change.  “It is imperative that, over the decades ahead, we make the transition to a low-carbon economy.” The CIG’s largest members have helped establish an investor initiative to engage on climate change with the 10 largest extractives and utilities companies listed on the London Stock Exchange (LSE).The coalition also includes the Local Authority Pension Fund Forum and Rathbone Greenbank, the ethical fund manager, and is led by CCLA Investment Management, the specialist church and charity fund managers. Every year, the performance of global companies on climate change is rated by CDP (formerly the Carbon Disclosure Project), an NGO that collects and analyses data for this area.It is the investors’ initiative – called ‘Aiming for A’, after CDP’s highest rating (A) – which has prepared the shareholder resolution.Mason said: “We have chosen to file shareholder resolutions at BP and Shell because they have the biggest carbon footprints of all the companies listed on the LSE, and they are yet to achieve A ratings (they are both rated B).”He added: “The resolutions are supportive but stretching. We want the companies to be sustainably profitable.“The idea is to give all the shareholders of both companies the opportunity to signal that, like us, they want to see BP and Shell adapt their businesses over the long term for a low-carbon economy.” The special resolution – ‘Strategic resilience for 2035 and beyond’ – and amplified by a supporting statement, calls for routine annual reporting from 2016 to include further information about 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.The resolution says this additional ongoing annual reporting could build on the disclosures already made to CDP and/or those already made within the company’s energy outlook, sustainability review and annual report.A BP spokesman said: “We have had constructive discussions with CCLA and are aware they intend to file a resolution for our AGM in April 2015.“We will carefully consider it and respond appropriately before the meeting.”The shareholder resolution for Shell’s AGM will be very similar.The group’s UK AGM takes place in May 2015, shortly after its Netherlands AGM. The Church Commissioners and Church of England Pensions Board are to co-file shareholder resolutions on climate change at the annual general meetings of BP and Shell next year.The two bodies, which together own £7.7bn (€9.8bn) worth of assets, are members of the Church Investors Group (CIG), made up of institutional investors from mainstream Christian denominations and church-related charities, predominantly in the UK and Ireland.As a whole, the group’s investments total £15bn.The Central Finance Board of the Methodist Church is also co-filing the resolutions, as are some other CIG members.last_img read more

The Latest: Australia rugby league tour of England canceled

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first_imgAll first-division matches in the Spanish league are expected to be played without fans until the end of the season.Government officials believe some fans will be allowed back by next season with restrictions.___The International Tennis Federation and four Grand Slam tournaments are pledging more than $300,000 in financial support for wheelchair athletes and national event hosts affected financially by the coronavirus pandemic.Wheelchair tennis players who earned under $100,000 in prize money last year and meet certain ranking requirements can apply for a grant under the program. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The first England-Australia rugby league series in 17 years has been canceled. The conference said each school can use its own discretion in deciding when athletes return to campus. The Big 12 had suspended all team activities, voluntary or required, because of the coronavirus pandemic through May 31. As of June 1, new rules go into effect. In-person required and voluntary team activities are still banned for all athletes from June 1-14.Football players can resume voluntary on-campus activity on June 15. Other fall sport athletes can begin voluntary on-campus activity on July 1. Basketball players can participate in on-campus voluntary activities, starting July 6, and all other sports can resume voluntary activities on campus on July 15.Virtual or online supervised workouts and skill instruction is still not permitted. All required virtual or online activities, such as film study, are limited to eight hours per week and only on-field coaches may conduct those sessions.___The Japanese MotoGP has been canceled because of the coronavirus pandemic. There is still not date set for the return of soccer in Brazil.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 England’s Rugby Football League and the Australian Rugby League Commission made the joint announcement.England was to play Australia at Bolton on Oct 31, at Leeds on Nov. 7, and for the first time at Tottenham Hotspur Stadium on Nov. 14.The series was canceled because of the uncertainty over global travel, and the need to extend both countries’ domestic seasons, stalled by the pandemic.Both governing bodies are committed to planning a series in 2022, after the Rugby League World Cup in England in 2021.___ June 1, 2020 The Latest: Australia rugby league tour of England canceled The wheelchair tennis tour has been suspended since March and at least until the end of July because of the COVID-19 outbreak.More than 85 ITF-sanctioned wheelchair events have been postponed or canceled.___Italian soccer authorities are considering the possibility of allowing fans into stadiums starting next month.The Italian league is set to resume on June 20 with no spectators allowed. There are also strict rules limiting the number of people in the stadium to 300. That includes both teams, staff and journalists. The president of Spanish soccer club Las Palmas says fans may be allowed in to watch the team’s second-division match against Girona on June 13 in the Canary Islands.Miguel Ángel Ramírez has told the club’s official radio station the official announcement could be made next week.Spain has been gradually easing confinement restrictions across the country and the Canary Islands has been one of the most advanced regions controlling the coronavirus outbreak.Ramírez says Spanish health authorities will have the final say on whether fans will be allowed at the Gran Canaria Stadium.Details were not immediately announced but about a third of the 32,000-capacity venue could be open to fans. Italian media are reporting that the soccer federation could discuss the possibility of increasing that number and permitting a vastly reduced number of fans.Federation president Gabriele Gravina says “it’s something I really wish for with all my heart.”Gravina says “it’s unthinkable that in a stadium that can hold 60,000 there’s not space for a small percentage of fans with the necessary precautions.”___The Big 12 Conference announced its schools can begin bringing athletes back to campus, with the resumption of voluntary activities starting June 15 for football players. The race was scheduled for Oct. 18 at the Twin Ring Motegi circuit. Organizers say they hope to return to the same venue next year.Japan has a big presence in the sport and is the home of manufacturers Yamaha, Honda and Suzuki.Organizers say this is first time since 1986 that Japan will not host a race.MotoGP says it is trying to restart the season with races staying in Europe until mid-November. A race in Japan after that would be too late in the season.___ Brazilian soccer club Vasco da Gama says 16 of its players have tested positive for the coronavirus.The Rio de Janeiro club says the positive results came after tests were conducted on about 250 people.Three players have already recovered and the others remain separated from the group.The club says it will begin a series of medical evaluations on squad members.Atlético Mineiro and Cruzeiro said Sunday one player in each squad tested positive. Atlético said Ecuadorean midfielder Juan Cazares had the virus. Cruzeiro announced that forward Vinícius Popó was infected. Associated Press last_img read more