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5 Apr 2019

Church of England Pensions Board & Swedish Council on Ethics request full disclosure on tailing storage facilities from 683 extractives companies

Church of England Pensions Board and the Swedish Council on Ethics for the AP Funds, supported by 96 investors with $10.3 trillion (USD) in assets under management, have sent a letter to 683 listed extractives companies requesting specific disclosure on every individual tailing facility under their control. The engagement is also supported by the UN-supported Principles for Responsible Investment (PRI). The request follows the Brumadinho tailings dam disaster and multiple high level investor roundtables convened in early March and April 2019. 

The letter requests that companies:

  1. Publish the disclosure on their company website within 45 days.
  2. Ensure that the disclosure is signed by the company Chief Executive Officer or Board Chair.
  3. Consider how to communicate any disclosure with communities that might be affected by the company tailings footprint.
  4. If unable to answer a question, or provide the requested information, the company should clarify what action it is taking to address the issues.