$430 billion CalPERS to support BHP shareholder resolution at UK AGM

The California Public Employees' Retirement System (CalPERS), the largest public pension fund in the US will vote in favour of shareholder resolutions proposed by the Australasian Centre for Corporate Responsibility (ACCR).  CalPERS assets at the end of the fiscal year stood at roughly AU$430 billion.

View CalPERS notice here (22,23).

The shareholder resolutions filed by ACCR, will be heard at BHP’s UK AGM (October) and Australian AGM (November). It calls for disclosure of lobby group membership fees and the termination of paid membership of industry bodies like the Minerals Council of Australia that have demonstrated a pattern of advocacy on policy issues at odds with the company’s positions over the period 2012 to the present day.

View BHP ASX announcement here.

“CalPERS have sent a strong market signal to BHPs investors: either you take your commitments to the Paris climate agreement seriously or you don’t. Secret discussions behind closed doors no longer cut it. Investors’ on-paper commitments are meaningless without action. Investors have the opportunity, this week, to vote on climate action,” said Brynn O’Brien, Executive Director of ACCR.

BHP is a dual listed company with two parent companies - BHP Billiton Limited and BHP Billiton Plc. It operates as a single economic entity - BHP.  CalPERS is a shareholder in BHP Billiton Plc and will vote in the UK AGM.

WHAT: 2017 AGM of BHP Billiton Plc

WHERE: London, UK

WHEN: Thursday 19 October 2017 at 12.00pm (London time).  BHP Billiton Plc shareholders vote online until 12 noon (London time) on Tuesday, 17 October 2017 (UK Principal Register), or 1.00 pm (South African time) on Tuesday, 17 October 2017 (SA Branch Register).

MEDIA CONTACT

Brynn O’Brien ACCR Executive Director +61 423 951 316

Brami Jegan Holdfast Communications  +61 448 276 945