Glencore is the biggest producer of thermal coal in Australia and one of the world's largest coal traders. In 2024, coal made up nearly 50% of Glencore’s industrial EBITDA. With the acquisition of Elk Valley Resources' (EVR) metallurgical coal mines and an intention to expand coal production by almost 30%, Glencore’s already large coal exposure is set to grow towards 2050, with a number of assets operating beyond this time.

ACCR has engaged with Glencore since 2022, and undertaken analysis of its coal expansion plans. At Glencore’s 2023 AGM, 29% of shareholders voted in support of a resolution by ACCR, ShareAction and other institutional investors that called for Glencore’s climate plan to disclose how the company’s thermal coal business aligns with the Paris goals.

22nd August 2025

More cost, less benefit for NSW: the flawed rationale for the Hunter Valley coal mine expansion

A review of the 2024 cost-benefit analysis submitted as part of the Hunter Valley Operations Continuation Project Economic Impact Assessment

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27th March 2025

Appetite for risk: Glencore's growing coal portfolio

Assessing the risks of Glencore's large and growing coal portfolio.

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27th March 2025

New research: Glencore’s risky appetite for coal

Coal mining giant Glencore Plc is expanding its already large coal exposure into the headwinds of the global energy transition, yet has not demonstrated to investors how it plans to manage this risk.

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7th August 2024

Glencore holds on to coal: ratcheted up transition risk needs a plan

ACCR is commenting on today’s widely anticipated announcement from Glencore plc that it will not demerge its coal business, including the newly acquired Elk Valley Resources (EVR).

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30th May 2024

Investors still in the dark on Glencore’s transition risk

ACCR is commenting on the results of Glencore plc’s 2024 Annual General Meeting.

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18th April 2024

Analysis: Glencore’s 2024-2026 Climate Action Transition Plan

Glencore’s 2024-2026 Climate Action Transition Plan (CATP) moves the company further from aligning to a net zero emissions pathway.

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21st March 2024

Coal miner Glencore defies investors - places reckless bet against the energy transition

ACCR is commenting on the release of Glencore plc’s Climate Action Transition Plan.

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27th May 2023

“Impossible for Glencore to ignore”: Coal-mining giant hit with large shareholder vote on thermal coal risk at AGM

29.22% of Glencore shareholders voted in support of the thermal coal resolution. The result is a clear indication that institutional capital is increasingly alert to the risks of thermal coal and investors expect disclosures that enable them to navigate energy transition risks.

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5th May 2023

“Missed opportunity”: Glencore ignores major investors’ calls for transparency on thermal coal as crucial climate-vote looms

Major institutional investors have expressed disappointment at the decision by Glencore’s board to decline the request for greater transparency.

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24th April 2023

The Statement of Indicative Support for the Glencore Thermal Coal Resolution

Statement of indicative support for investors and their representatives for the terms of the shareholder resolution to Glencore plc.

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19th April 2023

Surge in investors demanding greater transparency from Glencore on thermal coal production

Nine institutional investors have publicly backed a shareholder resolution seeking greater transparency on Glencore’s thermal coal production.

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18th April 2023

Pre-AGM analysis: Glencore plc 2023

Research presentation for investors, covering our analysis of Glencore’s 2022 Climate Report; updated analysis on forward coal emissions; the Teck bid; and the co-filed shareholder resolution on thermal coal disclosure.

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22nd February 2023

Analysis of Glencore’s forward coal emissions profile

Based on current disclosures by Glencore and its stated strategy, the company’s forecast cumulative emissions from coal production do not appear to be Paris-aligned.

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22nd February 2023

New research raises doubts about Paris-alignment of mining giant Glencore - increasing pressure as the company faces a shareholder resolution on thermal coal.

ACCR released research showing that based on current disclosures by Glencore and its stated strategy, the company’s forecast cumulative emissions from coal production do not appear to be Paris-aligned.

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5th January 2023

Global investors unite on first ever shareholder resolution targeting Glencore’s coal production

ACCR is commenting on the first time investors have filed a climate resolution specifically focusing on Glencore’s thermal coal production.

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5th January 2023

Shareholder Resolution to Glencore PLC on thermal coal production

A global coalition has filed a Shareholder Resolution to Glencore PLC (LON:GLEN) seeking greater insights into the specific plan to align thermal coal production.

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13th December 2022

Investor Bulletin: Monitoring Glencore’s climate commitments

Glencore’s planned coal expansion and growth in coal emissions is overshadowing the future facing minerals portfolio of the business.

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8th December 2022

Glencore acknowledges folly of coal expansion - cancels massive proposed greenfield coal mine in Australia

ACCR  is commenting on Glencore withdrawing applications for approval for its Valeria greenfield coal mine.

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28th October 2022

Heritage preserved: Glencore’s coal mine refused

ACCR is commenting on the decision made today to refuse Glencore’s Glendell coal mine proposal due to heritage impacts.

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15th July 2022

Glencore knew of coal’s “gaseous nature” - action required on methane pollution

Methane measurement technology is improving all the time, and coal miners like Glencore cannot continue to bat off the unwanted attention on Scope 1 emissions.

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14th June 2022

Glencore must step up after shareholder dissent to Climate Progress Report

ACCR has released a letter to Glencore with five recommendations that would go towards addressing shareholder's climate plan concerns.

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