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NILGOSC calls on Anglo American for more Climate Risk Disclosure

20 April 2016

NILGOSC, the administrator of the Local Government Pension Scheme (LGPS) for Northern Ireland, has co-filed a resolution at Anglo American’s AGM on 21 April 2016 calling on the company to provide greater disclosure on its preparations for climate change.

NILGOSC is part of the 'Aiming for A' Coalition which is collaboration of major UK and global pension funds seeking investee companies to adopt the fullest level of disclosure of the management of climate risk.

Anglo American is a multi-national mining corporation with significant exposure to commodities, the demand for which will change during a move to a low carbon economy. David Murphy, Chief Executive of NILGOSC explained that "as a shareholder of the company, and a responsible owner, we and other members of the Coalition want to support management as it prepares for climate change over the medium term. We believe that the additional information requested will assist the company and investors."

NILGOSC invests globally in equities, fixed income, property, infrastructure, and private equity. It is a Responsible Investor whereby environmental, social and governance issues are taken into account when investment decisions are made. As part of its Climate Risk Strategy NILGOSC co-filed similar resolutions at the BP and Shell AGMs in 2015 which were supported by management and agreed by the majority of shareholders. NILGOSC also co-filed a similar resolution for discussion at the AGM of Rio Tinto earlier in April 2016.

A list of the 'Aiming for A' Coalition can be found at http://www.lapfforum.org/Archive/files/20160401AimingforAcofilergridanddeclarationgrid.pdf