Activist hedge fund Bluebell takes on commodities giant Glencore over coal business

Plans to keep coal till 2050 “morally unacceptable”

clock • 2 min read
Bluebell calls on Glencore to separate thermal coal business

Bluebell calls on Glencore to separate thermal coal business

London-based activist hedge fund Bluebell Capital Partners has called on mining giant Glencore to separate its thermal coal business as it has become a barrier to investment.

In a letter to Glencore seen by Investment Week, Bluebell's partners Giuseppe Bivona and Marco Taricco said the commodities multinational could realise more value for shareholders if it separates its coal business, simplifies its asset base, disposes of non-core asset Viterra and tackles governance issues. "Due to its coal business, Glencore is not an investible company for investors who place sustainability at the heart of their investment process," Bluebell's partners wrote in the letter dated 8 November. "A clear separation between carbonised and de-carbonised assets is needed to i...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on ESG

Demand for key inputs will rise sharply, as nations look to accelerate their renewables programmes.

Greenflation: What are the drivers and how long will it last?

Metal price rises 'structural'

clock 12 August 2022 • 3 min read
Invests in companies with strong biodiversity credentials.

HSBC launches biodiversity screened ETF

SFDR Article 8

clock 11 August 2022 • 1 min read
Charles Radclyffe of EthicsGrade

Avoid the watermelons: Time to think differently about ESG

Focus on investor needs

Charles Radclyffe
clock 10 August 2022 • 4 min read