Climate Action 100+ adds to focus list of companies

18 November 2020

Climate Action 100+, a global initiative involving over 500 signatories responsible for more than USD47 trillion assets under management, has expanded the focus list of companies it is engaging with to deliver Paris Agreement-aligned emissions cuts, implement strong climate governance frameworks and improve climate-related disclosures.

The changes to the Climate Action 100+ focus list follows a periodic review by the initiative to ensure the companies engaged remain relevant to confronting the global climate change crisis.

Overall, nine companies have been added to the list, while two have been removed. The net rise in companies engaged globally through Climate Action 100+ takes the total to 167.

Specific company additions to the focus list and the rationale include:

Company Country Sector Rationale
Grupo Argos S.A Colombia Construction Materials A major industrial conglomerate with significant cement, energy and coal interests
Grupo México Mexico Metals & Mining The largest diversified miner in Mexico and one of the world’s largest copper producers
Incitec Pivot Australia Chemicals A large multinational manufacturer of explosives, chemicals and fertilisers
Oil Search Papua New Guinea Oil & Gas A large upstream oil & gas producer, listed in Australia and operating predominantly in Papua New Guinea
Orica Australia Chemicals One of the world’s largest providers of commercial explosives and blasting systems to mining, quarrying and oil & gas
Petróleos Mexicanos (PEMEX) Mexico Oil & Gas One of the 20 largest oil & gas companies on the planet, and second largest in Latin America
Saudi Arabian Oil Company (Aramco) Saudi Arabia Oil & Gas The largest oil & gas producer in the world
UltraTech Cement India Construction materials One of the world’s largest cement companies
Uniper Germany Utilities Major European energy provider

Companies removed from the focus list and the rationale include:

Company Country Sector Rationale
Southern Copper USA Mining & Metals Replaced by parent organisation Grupo México on the focus list
Wesfarmers Australia Retail De-mergers and asset sales leave Wesfarmers a substantially different company

The recent additions are based on the same criteria for earlier inclusions on the focus list: that a company be a globally significant emitter of greenhouse gases and/or they can play a strategically important role in the transition to net-zero emissions by 2050 or before.

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