ACCR Company Engagement South32 Ltd

South32 Ltd is a global diversified metals and mining company headquartered in Perth, Western Australia.

South32 Ltd shares were first listed on the ASX in 2015, after the company was spun out of mining giant BHP. South32 operates across five countries and has a portfolio of quality assets producing alumina, aluminium, coal, manganese, nickel, silver, lead and zinc. South32 also has secondary listings on the Johannesburg bourse and the London stock market.

ACCR has engaged regularly with South32 on its decarbonisation commitments and lobbying related to climate and energy policy for several years. To date, South32’s reviews of its industry associations have not been as rigorous as those of its peers. In 2021, ACCR filed its first shareholder resolution with South32 on its climate-related lobbying policy, which received 98.2% shareholder support.

S32 has also committed to giving shareholders a non-binding vote on its climate plan in 2022 (‘Say on Climate’).

Updates

  1. Research

    AGL Energy Ltd: Assessment and summary of 2022 AGM voting intentions

    ACCR is confident that with a suitably qualified CEO and refreshed board, AGL Energy Ltd (ASX:AGL) will produce a significantly enhanced CTAP in the next 12 months.

  2. Research

    South32: Climate Transition Action Plan Analysis

    It is ACCR’s view that South32’s (ASX:S32) plan is supportable, subject to quantified updates, due to its changed position on greenfield fossil fuel expansion, in contrast to peers like BHP.

  3. Media release

    Welcome news: South32 walks away from Dendrobium expansion

    ACCR is commenting on South32’s announcement that it will not proceed with the Dendrobium metallurgical coal mine in the Illawarra.

  4. Media release

    Dendrobium decision reeks of state capture

    ACCR is commenting on the decision by the NSW government to deem South32’s (ASX:S32) Dendrobium coal mine expansion “State Significant Infrastructure”.

  5. Media release

    South32 puts industry associations on notice over climate

    The board of South32 (ASX:S32) will support ACCR’s shareholder resolution, which seeks to ensure the advocacy of its industry associations is consistent with the Paris Agreement.

  6. Media release

    Carbon lobby continues to dominate Australia’s climate debate

    The carbon lobby - dominated by coal, oil and gas companies - are detrimentally effective in shaping Australia’s climate and energy policy. Their influence has not waned.

  7. Media release

    South32 must end pro-coal lobbying to align with its own targets

    ACCR has filed a Shareholder Resolution to South32 Ltd (ASX: S32) calling on the company to ensure the advocacy of its industry associations is consistent with the Paris Agreement.

  8. Shareholder Resolution

    ACCR Shareholder Resolution to South32 Ltd on climate-related lobbying.

    ACCR has filed a Shareholder Resolution to South32 Ltd (ASX: S32) on industry association memberships and climate-related lobbying.

  9. Media release

    South32 sets new target, but has more to do

    “The decade to 2030 is critical, so South32 must also set ambitious short-term targets, as well as targets for its Scope 3 emissions.”