Chanticleer

Glasenberg leaves ‘mini Ivan’ with a major problem

Ivan Glasenberg will retire firm in his view that Glencore is right to retain its thermal coal mines. His successor Gary Nagle will face pressure to take a different path.

Dec 7, 2020 – 12.00am

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If you need a little example of how fast the investor attitudes towards ESG (environment, social governance) issues are shifting, consider the change in attitude at Glencore, which on Friday night announced its larger-than-life chief executive, Ivan Glasenberg, will hand over to Sydney-based subordinate Gary Nagle in six months.

Back in February, Glasenberg was scoffing at the idea that resources giants could embrace targets to have net zero carbon emissions by 2050.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.