Glass Lewis ESG Controversy Alert: Whitehaven Coal

MT Newswires Live

Oct 15, 2024

Glass Lewis raised issues on its controversy alert for shareholders of Whitehaven Coal (ASX:WHC) ahead of the coal miner's annual general meeting slated for Oct 30.

The alert is centered on a "vote no" campaign attached to the notice of meeting relating to the company's executive remuneration structure, the environmental, social, and governance (ESG) adviser said.

Glass Lewis believes that the campaign is using the remuneration vote to discourage the company from expanding its coal production, effectively turning it into a "strategy no" campaign.

Aside from the statement, the company bestowed a one-off award outside of its pay structure.

The alert's rationale focuses on a precedent-setting/unique ESG issue and falls under climate change and greenhouse gas emissions and executive pay.

Price (AUD): $7.28, Change: $-0.04, Percent Change: -0.55%

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