Ethical investors, including the Church of England, plan to extend their campaign for miners and other big businesses to stop funding industry associations that block progress on U.N. goals to curb climate change.
Shareholders of BHP, the world’s biggest listed miner, voted at meetings in October and November against a resolution to suspend the global miner’s membership in some industry groups, saying it was effectively paying the pro-coal lobby.
Adam Matthews, director of ethics and engagement at the Church of England, told the Mines and Money conference in London on Tuesday he and other investors, representing large pension funds, would extend their campaign.
“We’re really concerned incumbency is preventing the speed up towards a supportive regulatory environment,” Matthews said.
“It’s completely unreasonable that companies use shareholder money to fund groups that do not act in investors’ long term interests,” she said.