engagement · 2021
HESTA at Rio Tinto
Make transparency commitments on cultural heritage management and on partnerships with Indigenous communities so investors can judge progress after Juukan Gorge.
What happened
Result: Agreement reached. Rio Tinto announced new disclosure and governance oversight measures on 23 March 2021, which the investor group welcomed. Both HESTA's release and Rio Tinto's own announcement name the same investor group of twenty-one bodies including HESTA, which led the engagement: ACSI, AustralianSuper, Aviva Investors, Aware Super, Brunel Pension Partnership, CareSuper, Catholic Superannuation Fund, Cbus, Council of Ethics of the Swedish National Pension Funds, EOS at Federated Hermes, Equipsuper, HESTA, IFM Investors, Local Government Super, LUCRF Super, M&G Investments, Telstra Super, UniSuper, USS Investment Management, Victorian Funds Management Corporation, Vision Super.
Rio Tinto committed to additional disclosure on the progress of its heritage measures, covering progress against its own commitments and external obligations, how Traditional Owners' views are sought and considered and their perspective on how far the commitments are met, the governance arrangements overseeing that progress, and its advocacy for sector-wide cultural heritage management. The company said it would begin interim reporting in the third quarter of 2021 and report predominantly annually thereafter, and would continue dialogue with investors on disclosure and governance. EOS at Federated Hermes welcomed the commitment to enhanced disclosure on communities and cultural heritage performance and said the disclosure would better include the voice of affected communities.
Who is involved
- HESTA filer
- ACSI co-filer
- AustralianSuper co-filer
- Aviva Investors co-filer
- Aware Super co-filer
- Brunel Pension Partnership co-filer
- CareSuper co-filer
- Catholic Superannuation Fund co-filer
- Cbus co-filer
- Council of Ethics of the Swedish National Pension Funds co-filer
- EOS at Federated Hermes co-filer
- Equipsuper co-filer
- IFM Investors co-filer
- Local Government Super co-filer
- LUCRF Super co-filer
- M&G Investments co-filer
- Telstra Super co-filer
- UniSuper co-filer
- USS Investment Management co-filer
- Victorian Funds Management Corporation co-filer
- Vision Super co-filer
What this campaign is about
- Protect cultural and natural heritage Helpful · UN Sustainable Development Goals