Australia: Investment Community and Announcement

australia: Glencore, which is Australia's biggest miner of coal, said it was responding to concern within the investment community, according to The Guardian. The Church of England, which is understood to have a stake worth just under 10m in the group, welcomed the announcement. The Switzerland-based firm, whose oil-trading operation is based in London, laid out plans to improve its environmental record, including a review of its membership of trade bodies it fears may be undermining the international Paris climate agreement. Carlota Garcia-Manas of the Church Commissioners, the C of E's 8.3bn endowment fund, said The simple truth is that in the absence of commercially viable carbon capture and storage, coal has no long-term future in the energy mix. Major Australian superannuation funds with billions of dollars under management including Australian Super and Cbus also put pressure on Glencore. Glencore's commitments on capital investment and expenditure start to provide assurance to investors increasingly focused on climate-related risks and opportunities. (news.financializer.com). As reported in the news.