Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Air France-KLM
  6. News
  7. Summary
    AF   FR0000031122

AIR FRANCE-KLM

(AF)
  Report
Real-time Euronext Paris  -  03:08 2022-11-28 am EST
1.283 EUR   -0.85%
11/25Factbox-What European companies are doing as workers face high inflation
RE
11/25Air France Klm : Document AMF CP. 2022E873465
PU
11/25Strikes, protests in Europe over cost of living and pay
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Glencore faces Australian challenge over net-zero strategy

09/08/2022 | 09:39am EST
FILE PHOTO: The site of the former Glencore Westside coal mine in Killingworth

LONDON (Reuters) - Environmental lawyers ClientEarth said on Thursday they were supporting a complaint filed in Australia against Glencore alleging the miner and trader could be misleading investors and the public over its climate strategy.

In a letter dated Sept. 2, several green groups including the Environmental Defenders Office (EDO) asked the Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC) to investigate Glencore's statements detailing its plan to hit net-zero carbon emissions by 2050.

The complaint alleges Glencore "is expanding its coal production in Australia."

"Despite Glencore publicly claiming to have Paris-aligned decarbonisation plans in place, the legal review of Glencore's activities reveals that the company is using a decarbonisation pathway that fails to represent its coal business, which is the largest driver of its emissions," ClientEarth said.

The ACCC and ASIC did not immediately respond to emailed requests for comment outside normal business hours on whether they would launch investigations.

Glencore has set out plans to remain the responsible owner of its thermal coal mines until depletion by the mid-2040s, as part of efforts to help the world reach the 2015 Paris Agreement goal of capping global warming at 1.5-degrees Celsius.

"We will review the materials and claims made by the EDO and their clients and are happy to assist ASIC and the ACCC with any enquiries they may have on these matters," a Glencore spokesperson said in an email.

As the Swiss-based company is listed in London, ClientEarth said it also urged UK regulator the Financial Conduct Authority (FCA) to "coordinate with the Australian securities regulator, ASIC, in a robust response".

The FCA, however, has not been formally asked to investigate the claims, ClientEarth said, because "regulators agree to and often do cooperate internationally on major cross-border issues such as this."

The FCA was not immediately available for comment.

Thermal coal, the most polluting fossil fuel, has seen its use and prices soar on the back of Chinese power shortages and a European gas squeeze exacerbated by a reduction in supplies by leading producer Russia on mounting tensions with the West over the war in Ukraine.

European countries including Germany, which heavily relies on Russian gas, have taken steps to temporarily reactivate coal-fired power plants as an alternative.

ClientEarth and other activists have taken similar actions against other companies over their net-zero claims, among them energy company TotalEnergies and airline KLM.

(Reporting by Clara Denina Additional reporting by Kirstin Ridley and Simon Jessop; Editing by Mark Potter)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM -0.93% 1.282 Real-time Quote.-33.72%
GLENCORE PLC -0.41% 533.8 Delayed Quote.42.37%
GOLD 0.08% 1751.95 Delayed Quote.-4.10%
S&P GSCI GOLD INDEX -0.08% 1028.82 Real-time Quote.-3.27%
SILVER 0.02% 21.268 Delayed Quote.-8.21%
TOTALENERGIES SE -1.81% 57.28 Real-time Quote.30.94%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.32% 59.85 Delayed Quote.-19.07%
All news about AIR FRANCE-KLM
11/25Factbox-What European companies are doing as workers face high inflation
RE
11/25Air France Klm : Document AMF CP. 2022E873465
PU
11/25Strikes, protests in Europe over cost of living and pay
RE
11/24Factbox-Strikes, protests in Europe over cost of living and pay
RE
11/24Italy could sell majority of ITA to Lufthansa-FS consortium -paper
RE
11/23Air France Klm : Document AMF CP. 2022E873094
PU
11/23Factbox-Strikes, protests in Europe over cost of living and pay
RE
11/22Air France Klm : Document AMF CP. 2022E872910
PU
11/22Italy to press ahead with plans to sell ITA despite MSC snub
RE
11/21Europe Inc cuts jobs as economy sputters
RE
More news
Analyst Recommendations on AIR FRANCE-KLM
More recommendations
Financials
Sales 2022 25 228 M 26 233 M 26 233 M
Net income 2022 173 M 180 M 180 M
Net Debt 2022 8 288 M 8 618 M 8 618 M
P/E ratio 2022 15,1x
Yield 2022 -
Capitalization 3 325 M 3 457 M 3 457 M
EV / Sales 2022 0,46x
EV / Sales 2023 0,45x
Nbr of Employees 72 439
Free-Float 47,1%
Chart AIR FRANCE-KLM
Duration : Period :
Air France-KLM Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AIR FRANCE-KLM
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Last Close Price 1,29 €
Average target price 1,58 €
Spread / Average Target 22,2%
EPS Revisions
Managers and Directors
Benjamin M. Smith Chief Executive Officer & Director
Steven Zaat Chief Financial Officer
Anne-Marie Couderc Non-Executive Chairman
Jean-Christophe Lalanne Executive Vice President-Information Technology
Isabelle Bouillot Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AIR FRANCE-KLM-33.72%3 457
SINGAPORE AIRLINES LIMITED10.02%25 732
DELTA AIR LINES, INC.-10.18%22 464
AIR CHINA LIMITED2.02%16 369
RYANAIR HOLDINGS PLC-14.43%15 431
CHINA SOUTHERN AIRLINES COMPANY LIMITED-10.49%15 320