Retail investors like Rio Tinto climate plan - interactive investor

(Alliance News) - Rio Tinto PLC's climate change plan received backing in a poll of retail ...

Alliance News 6 April, 2021 | 10:08AM
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(Alliance News) - Rio Tinto PLC's climate change plan received backing in a poll of retail investors, interactive investor said on Tuesday.

Over 72% of the 1,077 respondents backed the measures which include a climate change-related short-term incentive plan and a promise to suspend membership in bodies that lobby against climate action.

Just under 72% believe chairs and chief executives should be held to account on environmental, social and governance issues, the same poll found.

"It's clear that retail investors want to get more involved on the issues that matter to them and the platform industry should be doing more to make this happen. It is only through strength in numbers that retail investor voices are heard," interactive investor Chief Executive Officer Richard Wilson said.

"Today, too few are making use of their votes, and the investment platform industry needs to do a much better job of highlighting the influence that all shareholders can collectively wield."

For Rio Tinto, ESG issues are of particular importance following the the outcry and regulatory scrutiny that followed the miner blowing up a 46,000-year-old Aboriginal heritage site to expand the Pilbara iron ore mine in Western Australia.

Following the incident, which took place in May last year, Jean-Sebastian Jacques resigned as chief executive, replaced by Jakob Stausholm, who had been chief financial officer.

Rio Tinto shares were 3.5% higher at 5,670.00 pence each in London on Tuesday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Rio Tinto PLC 6,292.00 GBX 0.18

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