The Australian Council of Superannuation Investors (ACSI) has today welcomed Rio Tinto’s announcement that Climate Reporting will be put to an advisory vote at its 2022 Annual General Meetings.

ACSI CEO Louise Davidson said “We welcome the announcement by Rio Tinto, and its recognition of the importance of climate-related financial risks to investors.”

“Climate change risks are deeply embedded across our economy and a significant challenge for Australian companies and investors.

“Investors need access to reliable and sufficiently granular information to understand companies’ exposure to physical and transitional risks.

“Given the heightened exposure of the Australian economy to climate risk, there is increasing momentum from investors for a ‘say on climate’ and increased transparency around how companies are managing climate risk.

“Long-term investors will continue to engage with companies around how they are managing climate-related risk and reporting this to their shareholders. We look forward to seeing more companies with material climate risks adopting this approach in 2021” she said.