Glencore Caps Coal Production
Image: Glencore BY EMMA DAVIES AFTER pressure from investor signatories of the Climate Action 100+ initiative, global miner Glencore has announced its decision to cap coal production at current levels. In a statement, the Swiss-based coal giant said that it recognised climate change science as set out by the United Nations Intergovernmental Panel on Climate Change and realised it had a key role to play in enabling transition to a low carbon economy. “To deliver a strong investment case to our shareholders, we must invest in assets that will be resilient to regulatory, physical and operational risks related to climate change,” Glencore stated. “To meet the growing needs of a lower carbon economy, Glencore aims to prioritise its capital investment…