Climate Action 100+, a global initiative involving over 500 signatories responsible for more than USD47 trillion assets under management, has expanded the focus list of companies it is engaging with to deliver Paris Agreement-aligned emissions cuts, implement strong climate governance frameworks and improve climate-related disclosures.
The changes to the Climate Action 100+ focus list follows a periodic review by the initiative to ensure the companies engaged remain relevant to confronting the global climate change crisis.
Overall, nine companies have been added to the list, while two have been removed. The net rise in companies engaged globally through Climate Action 100+ takes the total to 167.
Specific company additions to the focus list and the rationale include:
|Grupo Argos S.A||Colombia||Construction Materials||A major industrial conglomerate with significant cement, energy and coal interests|
|Grupo México||Mexico||Metals & Mining||The largest diversified miner in Mexico and one of the world’s largest copper producers|
|Incitec Pivot||Australia||Chemicals||A large multinational manufacturer of explosives, chemicals and fertilisers|
|Oil Search||Papua New Guinea||Oil & Gas||A large upstream oil & gas producer, listed in Australia and operating predominantly in Papua New Guinea|
|Orica||Australia||Chemicals||One of the world’s largest providers of commercial explosives and blasting systems to mining, quarrying and oil & gas|
|Petróleos Mexicanos (PEMEX)||Mexico||Oil & Gas||One of the 20 largest oil & gas companies on the planet, and second largest in Latin America|
|Saudi Arabian Oil Company (Aramco)||Saudi Arabia||Oil & Gas||The largest oil & gas producer in the world|
|UltraTech Cement||India||Construction materials||One of the world’s largest cement companies|
|Uniper||Germany||Utilities||Major European energy provider|
Companies removed from the focus list and the rationale include:
|Southern Copper||USA||Mining & Metals||Replaced by parent organisation Grupo México on the focus list|
|Wesfarmers||Australia||Retail||De-mergers and asset sales leave Wesfarmers a substantially different company|
The recent additions are based on the same criteria for earlier inclusions on the focus list: that a company be a globally significant emitter of greenhouse gases and/or they can play a strategically important role in the transition to net-zero emissions by 2050 or before.