TCI Fund Management Limited Announces Submission of Climate Change Shareholder Proposal to Canadian National Railway
19 Nov, 2020, 08:30 ET
LONDON, Nov. 19, 2020 /PRNewswire/ -- TCI Fund Management Limited ("TCI") today announced it has submitted a shareholder proposal to Canadian National Railway (TSX: CNR) (NYSE: CNI) ("CN" or the "Corporation") requesting CN present at its upcoming 2021 annual general meeting of shareholders ("2021 AGM") a climate action plan detailing the Corporation's greenhouse gas emission levels as well as the Corporation's strategy to reduce emissions in the future. TCI's proposal also seeks to provide shareholders with an advisory vote at the 2021 AGM to approve CN's plan, and subsequently, at each annual general meeting on an ongoing basis.
"While TCI recognises the positive steps CN has taken to improve its emissions intensity, supporting this resolution would reinforce its leadership and dedication to ESG, and set an example for the rest of corporate Canada to follow," said Chris Hohn, TCI Founder and Portfolio Manager. "We remain committed to driving the reduction of carbon emissions at the corporate level and to engaging with Corporations, Boards of Directors, Investors and Asset Owners to help accelerate a transition to net zero."
About TCI Fund Management
Founded in 2003 by Sir Christopher Hohn, TCI is a value orientated, fundamental investor which invests globally in strong businesses with sustainable competitive advantages. Using a private equity approach, TCI conducts deep fundamental research, constructively engages with management and adopts a long-term investment horizon. For more information on TCI and its ESG policy, visit www.tcifund.com/ESG
Steve Bruce / Taylor Ingraham
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SOURCE TCI Fund Management Limited
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