Investors around the world are increasingly expecting companies
to adopt credible climate transition plans and strengthen their
climate-related disclosures.
To advance these efforts, some investors are calling on
companies to commit to disclosing their greenhouse gas (GHG)
emission reduction plans and holding a non-binding advisory
shareholder vote (Say on Climate) on those plans.
Rise of the Say on Climate initiative
In 2020, TCI Fund Management and its related charitable
foundation Children's Investment Fund Foundation (collectively,
TCI) launched the Say on Climate initiative, and has been seeking
support from companies, investors, proxy advisors, regulators and
market commentators. Say on Climate is modelled on "Say on
Pay" votes, where shareholders cast a non-binding advisory
vote on a company's executive compensation package at the
company's annual meeting.
