Fertiliser Giant Yara Must Tackle Massive Emissions, Shareholders Say
Investors are calling for Yara, Europe’s largest fertiliser manufacturer, to make deep cuts to polluting emissions of greenhouse gases.
Five shareholders in the company have filed a vote calling for Yara to strengthen its climate targets at its AGM later this month (28 May). If successful, the motion would see the corporation forced to set climate targets in line with a 1.5C warmed world – the vital internationally agreed goal for limiting temperature rise.
The Norwegian chemical giant is the largest natural gas user in the EU. At almost 63 tonnes a year, its carbon footprint is equivalent to the annual emissions of over 16 coal-fired power plants – according to sustainable finance organisation ShareAction, the group behind the investor call.