Remarks by Adam Matthews, Head of Engagement, at Anglo American AGM
Good afternoon. My name is Adam Matthews, Head of Engagement, Church Commissioners and Pensions Board.
We welcome Anglo American’s vision, set out in its new Sustainability Strategy, to “take a lead on issues that affect our business in a way that is collaborative and aimed at society’s wider goals”, and also its 2030 target of “External recognition” of its “leadership on policy and advocacy”.
You will be aware of the recent requests made to other mining majors with regard to consistency and transparency of direct and indirect public policy advocacy, including through industry associations, on energy and climate change, and of the steps taken by other mining majors to increase transparency in this area.
We would welcome detail from Anglo American on whether it has, or will commit to undertake a review on:
- The company’s positions, oversight and processes related to direct and indirect public policy advocacy, including through industry associations.
- Whether this covers the amount and dates of payments made to relevant associations, and alignment of policy positions with those of the company.
- The extent of Board oversight of any such review and policy alignment.
- When the Board will publish results of such a review, material policy differences with associations and any proposed actions to be taken.
Finally, I would also like to ask as Co-Chair of the asset owner led £6 trillion supported Transition Pathway Initiative (TPI) if Anglo would be willing to work with TPI and the team at the London School of Economics Grantham Research Institute under Professor Simon Dietz to develop the TPI methodology to cover diversified mining including coal. As you know we have been able through TPI to assess oil and gas companies for the first time and are keen to work with Anglo to extend that analysis to the mining sector, which will enable us to assess the performance of individual companies and of the sector as a whole against a 2 degree benchmark. Such work would, in turn, significantly enhance the quality of the dialogue between investors and your company.