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CORRECTED-Investors put pressure on miners to respond to climate change

Wed, 16th Dec 2015 23:10

(Corrects reference to Sarasin in paragraph 8)

LONDON, Dec 16 (Reuters) - An alliance of around 100investors is calling on mining companies Anglo American Glencore and Rio Tinto to show that they areworking to lessen the impact of climate change on theirbusinesses.

The group of European fund managers and pension fundsincluding Aviva, Amundi and Schroders,which together manage over $4 trillion in assets, will fileshareholder resolutions to the firms this month, investorcoalition "Aiming for A" said on Wednesday.

Shareholders will vote on the resolutions at companymeetings to be held in the first months of 2016. Miners arealready grappling with an industry crisis caused by plungingcommodity prices.

The resolutions include commitments to reducing operationalcarbon emissions, maintaining a portfolio of assets resilient tofuture energy scenarios, and supporting low-carbon energyresearch and development, Aiming for A said.

"We want Anglo American, Glencore and Rio Tinto fully todemonstrate awareness of the risks and opportunities thatclimate change poses to their businesses," Helen Wildsmith,founder of Aiming for A, said in a statement.

The global climate summit in Paris last weekend forged alandmark agreement to transform the world's fossil fuel-driveneconomy.

The Aiming for A coalition includes three Church of Englandinvestment bodies, the UK local authority pension fund forum, UKinvestment manager Sarasin & Partners and UK fund firm HermesInvestment Management. It takes its name from the grading ofefforts to monitor carbon usage.

It is leading the filing of the resolutions by a broadergrouping of investors.

In addition to Aviva, Amundi and Schroders, the broadergroup includes UK pension funds Railpen and the UniversitiesSuperannuation Scheme, BNP Paribas Investment Partners and Dutchinvestor APG Asset Management.

The resolutions are similar to those filed by Aiming for Awith BP and Shell, which the coalition saidsecured the support of their boards and 98 percent ofshareholders, and now require both companies to disclose theimpact of climate change on their businesses. (Reporting by Carolyn Cohn; Editing by Keith Weir)

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