TCI is one of a handful of activist hedge funds that have turned their attention to ESG issues in recent years. Summary of climate policies Policy LNP ALP Greens Emissions Reduction Target 26-28% by 2030 on 2005 levels. Aena's Board of Directors has signed off on its Climate Action Plan 2021-2030 'Towards Zero Emissions' which will enable it to reach carbon neutrality by 2026 while achieving a 94% reduction in emissions per passenger associated with Aena's own operations by 2030 to lay the foundations for accomplishing Net Zero by 2040.. Liked by Patricia Rebollo Teso. Aena decided to take advantage of sharply lower air-traffic and government green incentive programs to make structural changes to its business, according to innovation and sustainability director Amparo Brea. The company will put it into practice through a Climate Action Plan, with annual progress reports supplied to its shareholders. The move follows intense pressure from The Children’s Investment Fund (TCI), which manages around $30 bn, for Aena to take a leadership role in the fight against global warming. Our purpose is to support the global transition to net zero emissions by accelerating the pace of pre-commercial innovation, to the benefit of Australian consumers, businesses and workers. Unilever . Alan Jope, CEO of Unilever, was quoted in the Financial Times today saying, "We need to shift the dialogue away from setting . It said over 99% of shareholders who voted, voted . Tax incentives are also on the cards and . Police helicopters have buzzed over Glasgow as authorities prepare for a second day of protests by climate activists demanding faster . Unilever shares were up 0.5% in . Our global editorial team of about 55 journalists and more than 350 freelancers covers the lives of people around the world who struggle to live freely or fairly. MADRID, Oct 29 (Reuters) - Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator's annual general meeting on Thursday, in a global first for . Airport operators around the globe are facing dual challenges of coronavirus travel restrictions and pressure to reduce their carbon footprint. The group will follow Spain's Aena in granting investors a say on green transition plans. Thomson Reuters Foundation is a charity registered in England and Wales (registration number: 1082139), We focus on the human and development impacts of climate change, 'Perfect storm': Poor Britons caught in cost-of-living squeeze, 'Stripped away': Growing push on land justice for Black Americans, Greta Thunberg's rise from teen activist to global climate leader, As Madagascar faces climate-linked famine, UN flags need to prepare. Unilever shares were up 0.5% in . Copyright © 2020 Thomson Reuters Foundation. A €125 billion Climate Action Plan has been unveiled by the Government which will mean citizens are offered a new low-cost loan scheme to retrofit homes. Jonathan Amouyal, partner at TCI, tells IR Magazine all companies should have annual votes on their climate plans. Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator's annual general meeting on Thursday, following pressure from activist investor Chris . The current Climate Crisis is a global emergency and it is important to respond as such. Net zero Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. Under the new goals, airports in Aena's network will be 100% energy self-sufficient -- largely using solar panels -- and carbon neutral by 2026, with the carbon compensation mechanisms yet to be decided. Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. The project falls under the Smart Finance for Smart Buildings ('SFSB') Initiative. The movement has also come to Canada, with Canadian National Railway's management putting its climate action plan to a successful shareholder vote at its 2021 annual meeting and committing . Climate Action Plan. Aena is a company aware of its role as an economic engine that makes its activity compatible with a permanent commitment to development and sustainability. Unilever shares were up 0.5% in . Unilever, for instance, shared its climate transition action plan in Q1 2021, ahead of its AGM on May 5, 2021. The maker of Dove soaps and Hellmann's mayonnaise is the largest company globally to give investors a say on its climate transition action plan. Unilever shares were up 0.5% in . Cision webinar recording: How are activist investors influencing companies' ESG messaging? Aena decided to take advantage of sharply lower air-traffic and government green incentive programs to make structural changes to its business, according to innovation and sustainability director Amparo Brea. These companies include CN, who adopted the policy at its 2021 AGM, Moody's, Aena, VINCI and Canadian Pacific. Reporting by Clara-Laeila Laudette and Isla Binnie; Editing by Nathan Allen and David Evans. Last November it sent a letter to Aena’s board asking it to make changes to its climate plan and advocate for lower emissions with suppliers, regulators and clients. As for Unilever, the news on the Action Plan comes shortly after the firm joined a new task force exploring ways of making fossil-fuel-based polymers commonly used in health and beauty products more . Climate Change. It also brings forward from 2050 to 2040 the target date for net-zero emissions at all airports. Under the proposals, passed at last week’s annual meeting, Aena will present its climate action plan for approval at the AGM in 2021 and then progress reports at each subsequent meeting. She added that the push to minimise emissions would be written into contracts across its different business areas, like handling and other third-party services. Earlier this year, TCI also took the step of voicing concerns about Aena to the Spanish government. Cision IR cultivates shareholder confidence through an integrated suite of data-driven investor relations communications tools. At last week’s AGM, Aena smoothed over previous disagreements with TCI. Earlier this year, ValueAct’s founder Jeff Ubben said he was leaving the firm to start a new fund focused on ESG criteria. Climate Summit. Copyright IR Media Group Ltd. 1995 - 2021 All rights reserved. Webinar – Shareholder ID and targeting in 2022: How the pandemic has shifted digital frontiers. As for sustainability, in 2020, Aena was the first Spanish company, and one of the first in the world, to make a firm commitment to climate change in its bylaws. Hohn, who has emerged as a major investor voice on climate change, set a precedent last month by using a shareholder resolution to force Spanish airports operator Aena to draft a new climate plan . While the plan has yet to be finalised, it is likely to place additional burdens on coal-fired power plants in the USA, and ultimately reduce demand for thermal coal. See here for a complete list of exchanges and delays. In the case of TCI, the firm has targeted not just corporate boards but also the wider investment industry as it seeks to draw attention to climate issues. 63-82% by 2030 on a trajectory to get emissions to net zero by 2040. Progress will be evaluated annually. In a concerted effort to mitigate against the impact of climate change, AENA has brought forward an aim for all its airports to reach carbon-neutral status by 2026. The maker of Dove soaps and Hellmann's mayonnaise is the largest company globally to give investors a say on its climate transition action plan. Oil company Royal Dutch Shell , Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. Oil company Royal Dutch Shell, Spanish airports operator Aena and US rating agency Moody's are other companies to put their climate action plans to a vote. 3 3. Unilever shares were up 0.5% in . The development of this plan involves investments close to € 550m (period 2021-2030). Under the finance contract signed by EU bank Vice-President Emma Navarro and Aena Executive Director Maurici Lucena today (4/16) in Madrid, the EIB will grant an 86m loan to the company. BlackRock noted, however, that it is ‘mindful of a concern that this kind of ‘say on climate’ could shift accountability from boards to investors’. Amparo Brea, Aena's Director… #TowardsZeroEmissions Aena is set to invest around €550 million in its Climate Action Plan over the period 2021-2030. Spanish airport group Aena became the first major company in the world to commit to holding Say on Climate votes at its annual meetings, beginning in 2021. 2 of 3 Climate activists march during a demonstration in the center of Glasgow, Scotland, Friday, Nov. 5, 2021, which is the host city of the COP26 U.N. Unilever shares were up 0.5% in . The institutional investor said such a vote used in isolation ‘has the potential to weaken board accountability’ and it would continue to vote against directors when companies fall short of expectations. John Carney this week released Delaware's Climate Action Plan.. Progress will be evaluated annually. Advertisement. (Reporting by Clara-Laeila Laudette and Isla Binnie; Editing by Nathan Allen and David Evans). That should help it meet targets set out in the Paris Agreement. Aena's updated plan raises from 70 percent to 100 percent the goal for self-generated energy use by 2026. Aena has since provided shareholders with an outline of its climate change action plan, including targets, as a prelude to the company's next strategic With this sustainable credit facility - intended to fund general corporate needs - AENA becomes the world's first airport operator to resort to this type of funding arrangement. Major companies including Unilever, Canadian National, Glencore, Rio Tinto, Royal Dutch Shell and Moody's have . Sign up to get stories direct to your inbox. Stronger climate action urged at COP26 to avoid 'unimaginable' health risks, Young activists to take spotlight for a day at UN climate talks, Tunisia's lagoon farmers cling on as sea level rises, Climate change extremes spur U.N. plan to fund weather forecasting. The hedge fund argues that climate-plan votes offer a crucial way for shareholders to hold companies to account and are similar to the say-on-pay votes . Lack of robust data biggest barrier to greater ESG adoption, shows new survey, Telling your ESG story beyond the sustainability report: Polyus' thematic report, Telling your ESG story beyond the sustainability report: Deutsche Post DHL's ESG statbook. (Reuters) -British consumer goods giant Unilever on Wednesday said an overwhelming majority of its shareholders voted in favour of its plan to reduce greenhouse gas emissions across its supply chain to net zero by 2039. Unilever shares were up 0.5% in . Unilever shares were up 0.5% in afternoon trading. TCI has successfully campaigned for many of its portfolio companies to adopt a Climate Action Plan and to give shareholders a 'Say on Climate' advisory vote at their AGMs. TCI, managed by Sir Christopher Hohn, owns around 4 percent of Aena, making it the company’s largest shareholder after the Spanish government. MADRID, Oct 29 (Reuters) - Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator's annual general meeting on Thursday, following pressure from . The first example of this kind of vote was filed by the Children's Investment Fund (TCI) at the Spanish airport operator, Aena, in October 2020 and won support . We have recently presented the first Climate Action Plan of Aena to the Board of Directors. Climate Change Action Plan Australian Greens: Renew Australia 2030. Alan Jope, CEO of Unilever, was quoted in the Financial Times today saying, "We need to shift the dialogue away from setting . Activity. About this Report Climate change threatens human health and well-being in the United States. The company has also updated its articles of association to make its climate strategy a permanent addition to the AGM agenda. Aena S.M.E., S.A. (OTCPK:ANNSF) Q1 2021 Earnings Conference Call April 29, 2021 07:00 AM ET Company Participants Emilio Rotondo - Finance Director Jose Leo - CFO Conference Call. and on the way to achieving Net Zero in 2040, a 94% reduction in 2030 will be obtained in emissions per passenger as-sociated with Aena's own operations. Cision has offices in 24 countries throughout the Americas, EMEA, and APAC. “There will be no dilemma, no tradeoff between environmental protection and profitability,” he said at the annual shareholders’ meeting on Thursday. "It's a super aggressive goal but something we are prepared to do," Mayor Regina Romero said. Located in Arizona, we face increased climate vulnerabilities such as water scarcity, extreme heat waves, wildfires, and public health issues. Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. (Reporting by Siddharth Cavale in Bengaluru; Editing by Kirsten Donovan and Estelle Shirbon) Unilever is the second company to approve a Say on Climate vote, joining Spanish airline operator Aena, which adopted the publication of an annual climate transition action plan with a shareholder vote. Nov. 5, 2021 Updated: Nov. 5, 2021 10:21 a.m. OMAHA, Neb. DOWNLOAD PDF. Unilever shares were up . Gov. The Latest: Climate protesters plan to march through Glasgow. There are obstacles to taking a traditional activist approach over ESG issues, notes Plath. The plan will be updated on a rolling basis and Unilever will seek an advisory vote every three years on any material changes made or proposed to the plan. Unilever shares were up 0.5% in . ‘It’s clear... shareholders should have a vote,’ he says. The advisory vote on the climate plan was supported by BlackRock, which said in a voting bulletin it would be ‘beneficial at Aena given the material risk to its business model and its need to accelerate its efforts’. 25 March. MADRID (Reuters) - Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator’s annual general meeting on Thursday, following pressure from activist investor Chris Hohn, founder of the TCI fund. Carbon neutrality forms part of the main strategic objective included in the AENA 2021-2030 Climate Action Plan, which includes actions to offset the effects of climate change. Earlier this year, Spanish airports operator Aena became the first company in the world to adopt an annual shareholder vote on its climate action plan, following a year of pressure from TCI. Say on Climate The season also saw a marked increase in "say on climate" votes, where a company asks its shareholders to approve its climate strategy or transition plan via a nonbinding vote. Last month Hohn sent a letter to seven major asset managers calling for stronger action against companies over global warming. "There will be no dilemma, no tradeoff between environmental protection and profitability," he said at the annual shareholders' meeting on Thursday. In a July letter addressed to Teresa Ribera, the minister for ecological transition, Hohn asked for support in reshaping the group's climate strategy. Oil company Royal Dutch Shell RDSa.L, Spanish airports operator Aena AENA.MC and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. Addressing the group's shareholders, Chairman Maurici Lucena stressed the new climate plan would not mean lower earnings. Plath says, however, that he doesn’t expect such votes to become widespread, at least in the foreseeable future. The investments the EIB is supporting with this financing are in line with one of our main priorities: Climate action. These actions will enable AENA to achieve carbon neutrality in 2026 and, on the way to achieving Net Zero in 2040, a 94% reduction in emissions per passenger associated . Spanish airport operator Aena has adopted what is thought to be the world's first annual advisory vote on a company's climate action plan. (AP) — Omaha plans to join hundreds of other U.S. cities by trying to come up . Our Standards: The Thomson Reuters Trust Principles. Email: Sign Up. The maker of Dove soaps and Hellmann's mayonnaise is the largest company globally to give investors a say on its climate transition action plan. Cision is a leading global provider of earned media software and wire distribution services to public relations, investor relations and marketing communications professionals. Hohn has also sat on the board since Aena’s IPO in 2015. The European Investment Bank (EIB) and Aena will be working together to improve the environmental impact of Spanish airports. Unilever's scope for strife is less than would be the case in a sector like oil, though. The U.S. The season also saw a marked increase in "say on climate" votes, where a company asks its shareholders to approve its climate strategy or transition plan via a nonbinding vote. A protest is taking place . Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. 45% on 2005 levels by 2030. “We’ve invested 15 million euros in solar panel installations across our networks, with 335 million yet to be spent,” Brea said. Australian Renewable Energy Agency. The nine action areas in Aena's Strategic Plan are as follows: 1. Other examples include Trian Partners, Jana Partners and ValueAct. Amparo Brea, Aena's Director…. The plan . The latest on the U.N. climate summit COP26 in Glasgow: GLASGOW, Scotland — Police helicopters buzzed over Glasgow early Saturday as authorities prepared for a second day of protests by climate . Amparo Brea, Aena's Director… Recomendado . Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator's annual general meeting on Thursday, following pressure from activist investor Chris . On the occasion of the presentation of the Aena's Strategic Plan the company is also announcing the global traffic figure for September in which the airports in Aena's network handled over 26.2 million passengers, 4.6% more than in the same period in 2017. The General Meeting that we held in April was the first in which the company was accountable, scrutinised and showed progress in this . #TowardsZeroEmissions Aena is set to invest around €550 million in its Climate Action Plan over the period 2021-2030. Will COP26 deforestation pledge be game-changer or just more broken promises. During the period 2018-2021, AENA will invest in the energy efficiency renovation of airport terminals and other buildings as well as in low-carbon mobility. 2. Lucena said he thanked Hohn for the ‘encouragement he has given us these months to be even more ambitious than we were initially thinking’. AENA is fully committed to sustainability in the Josep Tarradellas Barcelona-El Prat Airport hub project. The City of Fort Collins is excited to share its 2017 Climate Action Plan (CAP) Update and 2017 Energy Policy Annual Update reports! ‘I would say we are… one of the first, if not the first, major listed companies in the world to decide to adopt these commitments,’ said Maurici Lucena, CEO and chairman of Aena, in his AGM address. (Reporting by Siddharth Cavale in Bengaluru; Editing by Kirsten Donovan and Estelle Shirbon) As an example, Saribas points to the case of Spanish airport provider Aena, which has agreed to an annual vote on its action plan to tackle climate change - a world first - as a result of engagement by TCI Fund Management. Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. The plan will be presented for shareholder approval at the 2021 AGM and progress reports will be voted on at each subsequent meeting. MADRID, Oct 29 (Reuters) - Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator's annual general meeting on Thursday, following pressure from activist investor Chris Hohn, founder of the TCI fund. Aena, continues to adopt the measures deemed necessary to strengthen the Company's liquidity due to the effect on its business resulting from the spread of Covid-19. AENA and a group of banks led by BBVA have closed an €800 million ESG-linked revolving credit facility (an "ESG-linked RCF"). Other businesses with climate-related shareholder resolutions being put to a vote in the coming weeks include HSBC, Shell, Moddy's and Aena. MADRID, Oct 29 (Reuters) - Aena shareholders voted in favour of an action plan against climate change at the Spanish airport operator's annual general meeting on Thursday, in a global first for . This webinar recording from Cision looks at the impact of activism on ESG messaging. Airport operator makes change following heavy pressure from activist investor TCI, Sign up to get stories direct to your inbox. They need to be consulted.’, He adds: ‘All companies have a role to play if we want to meet the targets set by the Paris Agreement.’. The various experts present at the event highlighted the fact that the Investment Plan for Europe was a significant opportunity to foster . DOWNLOAD PDF. The first example of this kind of vote was filed by the Children's Investment Fund (TCI) at the Spanish airport operator, Aena, in October 2020 and won Under the new goals, airports in Aena’s network will be 100% energy self-sufficient -- largely using solar panels -- and carbon neutral by 2026, with the carbon compensation mechanisms yet to be decided. The state-owned operator has reviewed targets in its climate change strategy, part of the company's Climate Action Plan, in recent months. British consumer goods giant Unilever on Wednesday said an overwhelming majority of its shareholders voted in favour of its plan to reduce greenhouse gas emissions across its supply chain to net zero by 2039. The activist fund has been pushing the company, which operates 46 airports in Spain, to take a bolder approach to climate change for around a year. Along with agreeing to annual votes, Aena has changed its climate plan to include more aggressive targets. Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. The Plan will be submitted to a consultative vote at the company . The project will finance the environmentally sustainable investments under AENA's strategic plan, DORA. ‘[T]he nebulous nature of ESG doesn’t lend itself in most cases to identifying clear deficiencies that, if corrected, could lead to a material increase in the target company’s financial performance,’ he says. Airport operators around the globe are facing dual challenges of coronavirus travel restrictions and pressure to reduce their carbon footprint. Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. Unilever shares were up 0.5% in . Global Change Research Program ( USGCRP) Climate and Health Assessment has been developed to enhance understanding and inform decisions about this growing threat.This scientific assessment, called for under the President's Climate Action Plan, 1 is a major report of the sustained National . Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. This action brings real benefits for our economy, in this case by helping Aena airports - which welcomed over 263 million passengers last year - to access the latest energy efficiency and renewable energy technologies . We are one of the first companies in the world to submit our Climate Action Plan to a consultative vote of shareholders. Action areas. Oil company Royal Dutch Shell, Spanish airports operator Aena and U.S. rating agency Moody's are other companies to put their climate action plans to a vote. Climate Action Plan. Chris Plath, senior ESG consultant at Leaders Arena, an advisory firm, says he wouldn’t be surprised to see more annual climate plan votes in the future. 25 March. ‘Challenges include convincing management to include these resolutions on its ballot and determining the scope of the resolutions – for example, defining what ‘climate plan’ means and whether disclosures, including any related targets and metrics, are included,’ he says. Today at the seat of the European institutions in Madrid, the European Commission, EIB and Instituto de Crédito Oficial (ICO) explained one of the Investment Plan for Europe's key priorities: its commitment to transport to drive sustainable economic growth. As an essential component of its sustainability performance, Aena has drawn up its Climate Action Plan and has reinforced the governance and reporting mechanisms to account . Unilever shares were up 0.5% in afternoon trading. Advertisement. OUR PEOPLE - Mar Simon, ALG Principal, shares with us some of the company's policies and how the consultancy team gets involved with them. #TowardsZeroEmissions Aena is set to invest around €550 million in its Climate Action Plan over the period 2021-2030. The investments the EIB is supporting with this financing are in line with one of our main priorities: climate action. The main goals of the Climate Action Plan are to reduce greenhouse gas emissions and to prepare for the impacts of climate change by prioritizing clean energy and improved energy efficiency, providing support to state agencies in resilience efforts, and increasing research and monitoring, a release stated. 2021-2030 Climate Action Plan The . Spanish airport operator Aena has adopted what is thought to be the world's first annual advisory vote on a company's climate action plan. Shareholders are relevant stakeholders. The first asked for a report on the principles underpinning the company's climate change action plan to be presented for information as a non-voting item at the company's AGM. As the data controller, Aena S.M.E., S.A. will process your contact details (mobile phone and IP address) for the purpose of authenticating your identity when using our chat service, and we will retain the content of the conversation on the basis of our legitimate interest in guaranteeing airport security and the interests of Aena against any . This led to a significant improvement in Aena's climate transition action plan. As with advisory votes on pay, letting shareholders take potshots at strategy is good governance. He has being working from the early beginning as Technical Helpdesk the Covenant of Mayors and Covenant of Mayors East, playing a big role by the development the Sustainable Energy .
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