NZ Greens challenge causes mining company backdown
The Green Party welcomes the fact that its challenge last week to Pike River Coal Company has now caused the mining company to advise the Stock Exchange and potential investors about how they propose to address their Kyoto liabilities for methane emissions, Green Party Co-Leader Jeanette Fitzsimons says.
“It is welcome news that Pike River has started to take fuller responsibility to inform potential shareholders about how it intends to address the climate change implications of its mine proposal. However, Pike is still claiming a figure for methane release that is one sixth of what the Intergovernmental Panel on Climate Change calculates. “If there are circumstances so special that make their emissions so low, Pike River should now be willing to release their calculations to independent scrutiny.
July 9th, 2007 at 2:44 pm
This is an interesting story as it shows the NZ Green Party protecting shareholder rights by encouraging full disclosure by the Pike River Coal Company. Full disclosure is the first step towards a business model that makes both the company and shareholders aware and, once full disclosure is attained, fully liable for damages as a cost of doing business.
Good on the Kiwis!