LONDON, Oct 7 (Reuters) - Britain's local government pension
schemes, hedge fund TCI and asset manager Sarasin have told UK
listed companies to allow shareholders a vote on their climate
transition action plans, the Local Authority Pension Fund Forum
said on Thursday.
Companies should put a resolution outlining their disclosure
of greenhouse gas emissions and a reduction plan on the agenda
of their 2022 annual general meeting, the three groups said in a
letter to company chairs.
"The number of plans that fail to meet the goals of the
Paris Agreement is alarming," said Doug McMurdo, LAPFF Chair,
referring to the global agreement to cap emissions and limit
global warming.
"Covid is a dress rehearsal for climate change; we must
learn and take meaningful action much more quickly on both
fronts," he added, referring to the impact of the global
pandemic.
The push for a vote follows the launch of a 'Say on Climate'
campaign by TCI founder Chris Hohn last year and similar votes
in this year's AGM season, at companies including Shell
and Unilever.
Investors managing $14 trillion in assets called for such a
vote globally earlier this year.
(Reporting by Carolyn Cohn; editing by Simon Jessop)