Glencore plc, a global diversified natural resource company, has announced the results of its 2024 Annual General Meeting. The company reported that all resolutions, including special and ordinary ones, were carried. Notably, the shareholders approved the reduction of the company's capital contribution reserves by US$1.6 billion and their repayment to shareholders. Additionally, the re-election of directors, approval of the auditors, and other key resolutions were also supported by the shareholders.
Glencore, with over 150,000 employees and contractors, operates in more than 35 countries and is a major producer and marketer of over 60 commodities. The company's activities support decarbonization efforts while meeting current energy needs. Glencore's customers include industrial consumers in sectors such as automotive, steel, power generation, battery manufacturing, and oil. The company also provides financing, logistics, and other services to producers and consumers of commodities.
In line with global efforts to achieve the goals of the Paris Agreement, Glencore has committed to decarbonizing its operational footprint. The company aims to reduce its Scope 1, 2, and 3 industrial emissions by 15% by the end of 2026, 25% by the end of 2030, and 50% by the end of 2035, with an ambition to achieve net zero industrial emissions by the end of 2050, subject to a supportive policy environment. This commitment is detailed in the 2024-2026 Climate Action Transition Plan and the About our emissions calculation and reporting section in the 2023 Annual Report, available on Glencore's website.
Overall, the results of the 2024 Annual General Meeting indicate strong shareholder support for Glencore's strategic decisions and governance, reflecting confidence in the company's direction and commitment to sustainability.