CRH PLC | Re-elect Shaun Kelly as Director at CRH PLC

Status
6.76% votes in favour
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
CRH:LN
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
Type of vote
Director vote
Filer type
Management
Company sector
Materials
Company HQ country
Ireland
Supporting statement
Sarasin & Partners has expressed their intention to ABSTAIN from voting for this proposal at CRH plc's upcoming 2023 AGM.

Declaration of vote intentions by Sarasin & Partners:
"Despite ongoing concern with the actual financial statement disclosures, we will abstain on Kelly’s reappointment in recognition of our engagement and the efforts made, as detailed in the Audit Committee report to shareholders. However, we continue to lack visibility for 1) how material climate risks are reflected in critical accounting assumptions, notably the carbon price and discount rates used in impairment testing; 2) how precisely CRH’s medium to longer-term decarbonisation targets are integrated into its financial statements; and 3) the implications of a 1.5°C-pathway for its financials, given the results of the 1.5˚C-scenario in CRH’s TCFD disclosure suggests this is a high probability which may have a high impact."
https://sarasinandpartners.com/stewardship-post/crh-2023-agm/

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.