Diversified mining and marketing company Glencore has capped its coal capacity at 150-million tonnes of coal a year, a figure that it is close to and which it will not exceed. The company has been working on the cap with its investors since 2016 in the interests of the transitioning to a low carbon global economy. This follows engagement with the investor signatories of the Climate Action 100+ initiative and Glencore’s recognition of climate change science as set out by the United Nations Intergovernmental Panel on Climate Change and the belief that the global response to climate change should pursue limiting temperatures in line with the goals of the Paris Agreement and supporting the United Nations Sustainable Development Goals, including universal access to affordable energy.
