In January we published details of a landmark shareholder resolution co-filed by Brunel Pension Partnership calling on Barclays to set and disclose targets to phase out its financing of fossil fuel companies where they are not aligned with the goals of the Paris Climate Agreement. The outcome of the meeting has been hailed a success with Barclays’ own resolution winning majority support and committing them to becoming net carbon zero by 2050. The shareholder resolution won significant minority support in its own right, prompting the bank to consult with shareholders and explain the views received and actions taken publicly within six months.
The result is a great example of the power of Pooling and highlights now more than ever the value of shareholder engagement as the Fund seeks to deliver on its ambitious climate change objectives.
Brunel Pension Partnership have issued further information regarding LGPS Investors ask Barclays to firm up commitments on climate and their official statement following the outcome of the Barclays AGM