Shareholders increasingly concerned about impact of climate change Teck exec

by Alexandra Posadzki, The Canadian Press Posted Mar 7, 2017 1:15 pm MDT Last Updated Mar 7, 2017 at 2:00 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – Teck Resources has received a growing number of inquiries from shareholders and other stakeholders about how climate change and carbon pricing will affect its operations, an official with the Canadian mining giant said Tuesday.“We are receiving very detailed inquiries,” Chris Adachi said during a presentation at the world’s largest annual gathering for the mining industry, currently underway in Toronto.“I’ve seen them ramp up over the last couple of years. People want to know all these different types of questions around, ‘how are you thinking about carbon pricing, how are you thinking about different climate change scenarios when you are thinking about project design?’”Adachi, who helps manage Teck’s (TSX:TECK.B) carbon strategy, told attendees at the Prospectors and Developers Association of Canada convention that climate-related financial disclosures have become a hot topic in the mining industry as of late.“This isn’t something where people are just saying, ‘We need to talk about this,’” Adachi said. “We are receiving these questions directly, so this is very real for us.”Teck is a mining and mineral development company headquartered in Vancouver that focuses on copper, coal, zinc and energy. It owns or has interests in mines in Canada, the U.S., Peru and Chile.Prime Minister Justin Trudeau’s Liberal government has announced plans to introduce a national “floor price” on carbon by 2018, which would require all provinces to have some form of carbon pricing in place.A number of provinces — including Ontario, Quebec, Alberta and B.C. — have already introduced measures intended to combat climate change through either cap-and-trade programs or a carbon tax.Linden Edgell, the global sustainability director at ERM, says the environmental consulting firm has been fielding more phone calls about the issue lately, particularly from companies in the extractive sector, such as mining or oil and gas.“We’re getting more phone calls from the boards saying, ‘We’ve got a shareholder resolution, we need to respond to this.’ Or ‘We’re expecting one at our AGM, help us think through the response we’re going to make to the shareholders,’” Edgell said.Follow @alexposadzki on Twitter. Shareholders increasingly concerned about impact of climate change: Teck exec