Business
BlackRock turns up the heat on AGL’s coal exit plans – Sydney Morning Herald
BlackRock has thrown support behind a push for AGL to bring forward the closures of its Australian coal-fired power plants.
“Our support for this proposal is intended to encourage the company in its efforts to proactively and ambitiously manage the climate risk in its business model,” BlackRock said.
The pressure from shareholders on plant closures coincided with AGL receiving a “first strike” at its investor meeting on Wednesday after 46 per cent of shareholders voted against the company’s remuneration report.
Company chairman Graeme Hunt said that investors and key proxy advisers had specifically objected to the …
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