Investments and Pensions Europe
April 10, 2013
Nordic investors, including four of Sweden’s AP buffer funds, have achieved what they class as a significant breakthrough in their engagement efforts with mining company Rio Tinto.
The effort, led by GES on behalf of the four main AP funds, as well as Folksam, Norway’s KLP and Finland’s Ilmarinen, had been urging both companies for five years to improve their environmental performance at the Grasberg mine in Papua, jointly operated with Freeport.
Following the dialogue with GES, Rio Tinto has established a strengthened waste management standard for all its operations, while some of GES’ recommendations have been adopted for Freeport’s annual environmental report.
By Nina Röhrbein