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.

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