Melbourne: One of the world’s biggest sellers of coal is yielding to investor pressure on climate change, the clearest sign yet that movement is sweeping the natural resources industry.
In a surprise announcement, Glencore Plc promised to limit coal production as part of a broader move to align the business with Paris climate targets. The company won’t carry out major acquisitions if it would materially add to total production, according to people familiar with the plans.
The move shows that even a company like Glencore, which has spoken glowingly about the importance of coal, isn’t immune to the power of investors who want action on climate change. The anticoal movement has led the
