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☆ Rio’s latest rock shelter damage highlights need for Aboriginal Voice, advocates say
▼ + stars: | 2023-10-03 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

Rio's destruction of rock shelters at Juukan Gorge in 2020 prompted a global outcry, the departure of top executives and a parliamentary enquiry that recommended an overhaul of Australia's Aboriginal heritage protection laws. Reaction to the incident has been more muted compared to the outrage over the Juukan Gorge rock shelters so far. VOICE FOR HERITAGELooming over the incident is Australia’s upcoming Indigenous Voice referendum set for Oct. 14 that would create a panel to advise parliament on issues affecting the Aboriginal and Torres Straits Islands communities. "It's hard to think of a more compelling practical example of the need for an Indigenous Voice in the mining policy debate," he said. A spokesperson for the state department regulating Aboriginal heritage protection said it was in contact with Rio Tinto but it was not investigating the latest incident.

Persons: Rio, Simon Trott, Warren Entsch, Rio shouldn't, Morgan Stanley, James Fitzgerald, Jamie Lowe, WGAC, Melanie Burton, Lincoln Organizations: Rio Tinto, REUTERS Acquire, Aboriginal Corporation, ABC, Reuters, Aboriginal, Torres Straits, Australasian Centre, Corporate, Indigenous, Title, Guruma Aboriginal Corporation, Thomson Locations: Rio, Pilbara, Western Australia, MELBOURNE, Western Australia’s, Juukan

☆ Rio’s Latest Rock Shelter Damage Highlights Need for Aboriginal Voice, Advocates Say
▼ + stars: | 2023-10-02 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +5 min

By Melanie BurtonMELBOURNE (Reuters) - Damage caused to an Aboriginal rock shelter by mining giant Rio Tinto in August underscores the need for better heritage protection laws and a greater say for Indigenous groups promised in this month's Voice referendum, advocates say. Rio's destruction of rock shelters at Juukan Gorge in 2020 prompted a global outcry, the departure of top executives and a parliamentary enquiry that recommended an overhaul of Australia's Aboriginal heritage protection laws. "Regrettably, it seems as though Rio's blast management plan has failed on this occasion leaving the Muntulgura Guruma People to pick up the pieces," said Wintawari Guruma Aboriginal Corporation (WGAC), which represents the Muntulgura, in a statement. A spokesperson for the state department regulating Aboriginal heritage protection said it was in contact with Rio Tinto but it was not investigating the latest incident. Should the Department receive a complaint from Wintawari Guruma Aboriginal Corporation, it will act immediately to investigate."

Persons: Melanie Burton MELBOURNE, Rio, Simon Trott, Warren Entsch, Rio shouldn't, Morgan Stanley, James Fitzgerald, Jamie Lowe, WGAC, Melanie Burton, Lincoln Organizations: Rio Tinto, Aboriginal Corporation, ABC, Reuters, Aboriginal, Torres Straits, Australasian Centre, Corporate, Indigenous, Title, Guruma Aboriginal Corporation Locations: Rio, Western Australia’s, Juukan, Western Australia

REUTERS/Sarah MeyssonnierTOKYO, May 9 (Reuters) - Two major European asset managers have jointly filed a shareholder resolution at Japanese electricity generator Electric Power Development Co Ltd (9513.T), known as J-Power, for the second consecutive year in a row. The asset managers are calling on J-Power, Japan's largest operator of coal-fired power stations, to set and disclose credible short and medium-term emissions reduction targets, aligned with the goals of the Paris Agreement. The resolution is supported by Man Group (EMG.L), the world's largest publicly traded hedge fund, ACCR said. Amundi, Man Group, and HSBC Asset Management have nearly $3 trillion in assets combined under management. J-Power will "carefully consider" proposals and disclose its board of directors' opinions "as soon as they are determined", the company said on Tuesday.

[1/2] A logo of Amundi is seen outside the company headquarters in Paris, France, February 3, 2023. Amundi (AMUN.PA) and HSBC Asset Management filed the resolution with the Australasian Centre for Corporate Responsibility (ACCR), the non-profit climate group said in a statement on Tuesday. The resolution is supported by Man Group (EMG.L), the world's largest publicly traded hedge fund, ACCR said. Amundi, Man Group, and HSBC Asset Management have nearly $3 trillion in assets combined under management. Last year, Man, Amundi and HSBC filed a similar shareholder resolution, which they say was the first climate-related proposals by an institutional investor group to a Japanese firm.

☆ Big Oil’s old profligacy lives on Down Under
▼ + stars: | 2023-03-15 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

Throw in dividends and Santos shareholders have received a measly 6% total return during that period. Santos’ 15% return on capital employed last year puts it at the bottom of the class; BP delivered almost 25%. It looks slated to stay in the basement, with analysts projecting a sub-8% return for 2025, per Refinitiv data. The bonus is mostly tied to successful “growth projects”, which arguably encourages him to overinvest. If that happens again at next month’s annual meeting, it would, under Australian rules, allow investors to boot the entire board.

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