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BHP shareholders turn down bid to quit 'pro-coal' groups

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

Initial voting at BHP's (BHP +0.2%) London shareholder meeting indicates a likely rejection of a resolution urging the company to suspend membership of some industry groups said to be at odds with climate change goals.

One of BHP's biggest shareholders, Aberdeen Standard Investments, last week spoke out in favor of the motion, saying lobby groups were the biggest single obstacle to climate progress.

But at the London annual general meeting, which represents 42% of shareholders, only 22% of votes supported the motion to suspend membership of trade associations that are not in line with the Paris Climate Agreement.

The ballot will be followed by another vote on Nov. 7 representing the remaining 58%, in Australia, where support is strong for coal as a provider of jobs and wealth.

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