2022 AGM Roundup 1 (15 February – 3 June)

In this roundup:

  • Overwhelming shareholder support for climate risk resolution filed by Just Share & Aeon Investment Management at Standard Bank.
  • Coal miners Thungela & Exxaro challenged on climate change disclosure and transition plans.
  • Absa unable to back up its claims that coal provides “reliable, safe, and affordable energy”, and that oil and gas development is important for economic development and aligned with the Paris Agreement.
  • Nedbank & Old Mutual’s responses to questions about investments in Petmin raise concerns about their ESG leadership.
  • Old Mutual backtracks on commitment to disclose wage gap.
  • JSE relies on delisting fears in response to call for gender pay gap disclosure.
  • The Spar Group commits to disclose wages of lowest-paid workers.
  • Time for some changes to virtual AGM practices: preventing shareholders from asking questions verbally may breach the Companies Act.

Just Share has attended, and asked questions at, the following annual general meetings (AGMs), during the first half of this year:

  1. The SPAR Group Limited, 15 February 2022
  2. JSE Limited, 3 May 2022
  3. Thungela Resources Limited, 24 May 2022
  4. Exxaro Resources Limited, 25 May 2022
  5. Nedbank Group Limited, 27 May 2022
  6. Old Mutual Limited, 27 May 2022
  7. Standard Bank Group Limited, 31 May 2022
  8. Absa Group Limited, 3 June 2022

At these AGMs, we asked a total of 37 questions relating to inequality (wage / gender pay gaps and income inequality), diversity and transformation, climate change, and related governance issues.

The roundup summarises key questions and answers at these AGMs, sets out commitments made by companies in response to questions asked, and concludes with some reflections on AGM governance.

Download the full roundup

Select Date

Standard Bank’s financing of East African Crude Oil Pipeline is helping destroy rural livelihoods in Uganda

Briefing on Nedbank Group’s 2022 Climate Report

Coal companies Thungela and Exxaro refuse to table shareholder-proposed climate lobbying resolutions

Calling South Africa a failed state is misleading and destructive

Briefing on Standard Bank’s 2022 climate-related financial disclosures report

MISSING: The voice of black youth in climate discourse

Make a donation

Our work is only possible with the generous support of philanthropic funding and individual donations, which are tax deductible.

Every contribution helps us to keep doing what we do. Please consider making a donation and becoming part of the movement working to build a more just, equal and sustainable country.

Please email us at [email protected] to request a section 18A Tax Certificate.

Donate via EFT Below are our bank details
Bank Nedbank
Account number 1172492603
Account type Business PAYU
Branch code 10134000
Branch name CPT Western Suburbs Metro BB

Scan the QR code below in your SnapScan mobile app to complete the payment