Glencore chairman Hayward defends climate policy

Glencore on Thursday defended its climate policy from activists who want targets set for the use of its products, with chairman Tony Hayward saying the miner’s current plan will cut greenhouse gas emissions.

Pressure on miners has mounted after Norway’s $1 trillion wealth fund this month said it would sell its Glencore shares because it produces coal.

In a call ahead of an annual general meeting on June 2, activist charity ShareAction said Glencore should align its policy with the Paris climate goals by setting targets for Scope 3 emissions, which are generated when its products are used.