Institution Theme Category Industry
  • BlackRock
  • Environmental
  • Climate
  • Food Product
Company Year Market Link
Chr. Hansen Holding A/S 2020 N/A https://www.blackrock.com/corporate/literature/press-release/blk-vote-bulletin-chr-hansen-nov-2020.pdf

BIS has engaged with the company to better understand the background of the shareholder proposals and the
company’s view.
The company is in the process of enhancing its annual reporting and is already working on incorporating the recommendations of the TCFD. The company views reporting in line with the TCFD framework as a next step.
However, the board explained that it could not support the shareholder proposal because when and how to commit fully to the TCFD framework will be discussed by Chr. Hansen’s Sustainability Board, chaired by the company’s CEO, during the financial year 2020/21.
We acknowledge the significant commitments made by the company with regards to climate change and sustainability; most notably its recent commitment to formalize a science-based carbon emissions reduction target. Moreover, we note that the company has committed to shifting to 100% renewable electricity, 100% recyclability of key packaging material and 100% circular management of biowaste streams.
We recognize that reporting in line with the TCFD is a journey and that companies’ TCFD reports will evolve and improve. That said, we believe that companies should be aiming to initiate as soon as is feasible to provide material information to investors, particularly given the urgent need to address climate risk.
BIS has been engaging with companies about the importance of climate related disclosures for a number of years. We supported this shareholder proposal given the expectations BIS has outlined for all companies to report in line with the TCFD.

Details

  • Proponent
  • Shareholder
  • Resolution
  • Starting from Financial Year 2020/21, the Company must Apply the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) as the Framework for Climate-Related Disclosure in the Company's Annual Report
  • Vote
  • For
  • Rationale
  • N/A
  • Details
  • Support for this resolution is intended to accelerate the company’s efforts. If we were dissatisfied with the company’s approach, we would have voted against members of Chr. Hansen’s Board of Directors, which is typically how we flag significant concerns. We are confident in the company’s commitment to make progress on its TCFD-aligned disclosures.