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Investors with $5T-plus target BHP over coal funding

|About: BHP Group (BHP)|By:, SA News Editor

Investors representing A$8T (US$5.4T) are backing a call for BHP (BHP +3%) to stop funding industry groups whose actions are considered inconsistent with the Paris climate accords, according to the Australian Center for Corporate Responsibility.

ACCR co-filed a resolution in September that recommended the company suspend its membership of such groups, but BHP has recommended that shareholders vote against the resolution at its annual general meetings in London next Thursday and in Sydney on Nov. 7.

ACCR says a base of 27 investors would back its resolution, including the CalPERS, AXA Investment Managers, BNP Paribas Asset Management, the Church of England Pensions Board and top-five investor Aberdeen Asset Management.

It is not clear what percentage of BHP shares the 27 investors own in total.

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