The Church of England Pensions Board said on Tuesday it planned to vote against the re-election of company chairs of 183 mining companies unless they sign up to a new global standard on managing mine waste.
Adam Matthews, Chief Responsible Investment Officer for the Church of England Pensions Board, which looks after $5 billion in assets, said that as a first step the Church would vote against the chair of companies that have not signed.Tailings safety is a risk not just to communities and the environment, but to investors and the Church was not confident it is being adequately addressed, Matthews said in a statement.
"If the chair of a board does not see this as a major risk that requires the highest standards of operation, then they themselves pose a risk to us as a shareholder in that company," he said. "As a first step, we will vote against the chair of those companies and are considering shareholder resolutions."