We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
David Moult, CEO of Yancoal, sits on the Board of Directors of the MCA (Updated as of November 2022).
Mr David Moult
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
David Moult, CEO of Yancoal, sits on the Board of Directors of the MCA (Updated as of November 2022).
Mr David Moult
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Yancoal CEO, David Moult, sits on the board of directors at NSWMC (Updated as of November 2022).
Mr David Moult
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Reinhold Schmidt, former CEO of Yancoal until his departure from the company in March 2020, sat on the Board of Directors of the NSW Minerals Council. This is still listed on the NSW Minerals Council website.
Mr Reinhold Schmidt
InfluenceMap Data Point on Corporate - Influencer Relationship
Yancoal CEO, David Moult, sits on the board of directors at NSWMC (Updated as of November 2022).
Mr David Moult
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Reinhold Schmidt, former CEO of Yancoal until his departure from the company in March 2020, sat on the Board of Directors of the NSW Minerals Council. This is still listed on the NSW Minerals Council website.
Mr Reinhold Schmidt
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Yancoal is one of 18 direct corporate members of the WCA (updated as of January 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Yancoal is one of 18 direct corporate members of the WCA (updated as of January 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Yancoal is one of around 80 direct corporate members of the QRC (updated as of November 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Yancoal is one of around 80 direct corporate members of the QRC (updated as of November 2022)
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Lobbying Overview: Yancoal has limited engagement on specific climate policy, but appears unsupportive of a transition away from coal in the energy mix. The company also maintains relationships with industry associations that actively lobby against Australian climate change policy, including the Minerals Council of Australia.
Top-line Messaging on Climate Policy: Yancoal is broadly supportive of climate action in its top-line communications. In its 2020 ESG Report, published in July 2021, Yancoal recognized the science of the IPCC and the contribution of greenhouse gas emissions from the coal sector to global warming. In the same report, the company supported the Paris Agreement, the need to limit global warming to “well below 2°C”, and a predictable energy and climate change policy framework. In an April 2021 response to a Parliamentary Inquiry into the regulation of Australia's export industries, Yancoal also acknowledged the need for policy roadmaps to transition to a net-zero carbon footprint.
Engagement with Climate-Related Regulations: Based on the limited available disclosures, it is unclear what Yancoal's position towards, or engagement with, relevant climate-related regulation is.
Positioning on Energy Transition: Yancoal has consistently supported a sustained role for coal in the global energy mix. Baocai Zhang's 2020 Chairman's statement on Yancoal's corporate website stated that coal "will remain a key component of the regional energy mix" and "play a key role in delivering economic growth and improved quality of life across several South-East Asian countries". In its 2020 ESG Report, published in July 2021, Yancoal supported the need for “high-quality coal” in the energy transition alongside the deployment of CCS, but did not appear to support an overall reduction of coal in the energy mix.
In an April 2021 response to a Parliamentary Inquiry into the regulation of Australia's export industries, Yancoal strongly supported a significant role for coal in the energy mix up until 2040 and beyond, without reference to the need for CCS.
Industry Association Governance: Yancoal has strong links to several industry associations that have actively opposed meaningful climate change policy, including the NSW Minerals Council, the Queensland Resources Council (QRC) and the World Coal Association. Yancoal's CEO also sits on the board of directors of the Minerals Council of Australia (MCA). Yancoal does not disclose a full list of its industry association memberships and indirect climate-related lobbying activities, nor has it published a full audit disclosure of its industry links.