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UK local government pension group backs Rio Tinto CEO bonus cut

Tue, 25th Aug 2020 10:23

LONDON, Aug 25 (Reuters) - A leading UK local government
pension group said on Tuesday it backed a decision by Rio Tinto
to cut the bonuses of some leading executives
after the Juukan Gorge mining incident as 'a proper and
appropriate first step'.

The Local Authority Pension Fund Forum, whose member schemes
manage more than 300 billion pounds ($393.18 billion) in assets
for public sector workers, said while it welcomed a review into
the destruction of caves at the Australian site, further action
would be needed.

"The Forum will continue to liaise with both Rio Tinto and
community representatives to monitor how the company’s response
develops based on the Review findings and the on-going
Parliamentary inquiry into the cave destruction," said LAPFF
Chair Doug McMurdo.

"I would hope to see a proportionate response from Rio Tinto
based on the full set of evidence that emerges."
($1 = 0.7630 pounds)
(Reporting by Simon Jessop; editing by Carolyn Cohn)

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