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M&G shareholders to vote on climate plans in 2022

M&G shareholders to vote on climate plans in 2022
Credit: Anton Atanasov from Pexels

M&G is planning to give shareholders a say on its climate change plans from next year.

Shareholders will be asked to approve the asset manager’s climate transition report through a ‘say on climate’ resolution at its AGM in 2022. 

Ahead of this meeting M&G will provide investors with details of its roadmap to meeting its net zero target by 2030

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The firm has also committed to reducing carbon emissions across portfolios by 2050, in alignment with the Paris Agreement.

The £367bn firm’s climate transition plan will include measures consistent with the task force on climate-related financial disclosures. 

Fiona Clutterbuck, interim chairwoman of M&G, said: “We believe that sustainably run businesses deliver stronger and more resilient long term returns for investors.

“As a major investor, we are asking companies to allow their shareholders to vote on their plans to be transparent about how business is addressing the climate emergency; we look forward to discussing our own climate transition plans with our shareholders.”

A number of asset managers have set net zero emissions targets as scrutiny around environmental impacts has intensified.

In February, Scottish Widows announced it was setting a net zero target across its £170bn fund range.

Jon Yarker is a freelance reporter for FTAdviser