Exxaro Resources Limited AGM round-up

Just Share has published a round-up of Exxaro’s AGM, which took place yesterday, 23 May 2024.

Key takeaways

  • Exxaro’s position on shareholders’ right to file resolutions remains unclear in principle. Although the company did not table the resolution co-filed by Just Share, Fossil Free South Africa and Aeon Investment Management in 2023, indicating that it was “within the purview of the directors of the Company”, the chairman does not view this “non-tabling” of the resolution as a refusal by Exxaro to table shareholder-proposed resolutions.
  • Exxaro is still no closer to setting scope 3 emission reduction targets, which constitute almost 99% of its total emissions. It has committed to publishing its decarbonisation roadmap “before the third quarter” of this year, which, according to the chairperson of the risk and business resilience committee, “will include scope 3 – what we intend to do for the future.” This is not, however, a commitment to include scope 3 targets.

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