Q4 2024 Quarterly Engagement Report
LAPFF Q4 2024 Quarterly Engagement Report (QER) for October to December 2024.
Highlights Include:
- Letter to FTSE 100 Companies: LAPFF requested disclosures on company approaches to operating in, or having links to, conflict-affected and high-risk areas (CAHRAs), to better understand corporate risk mitigation and due diligence.
- Engagement with EV Manufacturers: Discussions with Mercedes, Ford, VW, BMW, and GM on their human rights due diligence processes within critical mineral supply chains, particularly in CAHRAs.
- Booking Holdings & Motorola Solutions: Engagements focused on heightened human rights due diligence (hHRDD) in CAHRAs, including the Occupied Palestinian Territory (OPT).
- London Stock Exchange & Market Standards: Follow-up letters to the LSEG Chair, challenging the weakening of listing standards and calling for evidence-based decision-making to protect investor interests.
- Housebuilders & Zero-Hours Contracts: Meetings with Persimmon on board governance and climate strategy, alongside engagements with Hollywood Bowl and IHG on the implications of the UK’s proposed Employment Rights Bill and the phasing out of zero-hours contracts.
- Drax Group & BECCS: Continued engagement on Drax’s sustainability claims, subsidy reliance, and carbon capture feasibility, following its £25m settlement with Ofgem over misreporting biomass data.
- Airline Sector & Decarbonisation: Discussions with Wizz Air and IAG on their net-zero pathways, SAF adoption, and operational challenges, building on Q3 engagements with Ryanair.
- Tobacco & Single-Use Plastics: Engagement with BAT on plastic waste in cigarette filters and vaping products, highlighting slow progress in addressing regulatory and environmental risks.
- Financial Institutions & Transition Finance: Meetings with Mizuho, SMBC, and MUFG as part of the Asia Research & Engagement group, assessing their alignment with a 1.5°C pathway.
A full copy of the report can be found here.