27 April 2021 Later this week, shareholders in Glencore will vote on the company’s climate transition plan, otherwise known as a ‘Say on Climate’. Glencore joins just a handful of other companies, including oil majors Royal Dutch Shell and Total, in giving its shareholders a vote this year. In all likelihood, shareholders will vote in favour of Glencore’s climate strategy. It is an awkward situation: the first Say on Climate vote for a globally material emitter will likely rubber stamp plans for at least nine new or expanded coal mines in NSW and Queensland. Glencore’s coal expansionism Glencore, the world’s largest coal producer, placated climate-conscious investors in early 2019 by announcing a “cap” on coal production. It committed to limiting coal production to its 2019 production levels of 145 million tonnes per annum.