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Climate advocate's proposal voted down at insurance AGM

One of Topdanmark's shareholders put forward a proposal that the company institute the climate recommendations of the G20 nations' financial task force -- which aim to prevent another financial crisis. But the Danish insurer's Annual General Meeting voted against the idea.

Thomas Meinert Larsen, a shareholder in Topdanmark and member of the climate NGO Kilmabevægelsen, put forward a proposal at the insurer's AGM last Thursday -- but to no avail.

Larsen's two-part proposal said Topdanmark should arrange its business within an overall framework, "insuring that it supports the UN-based Paris Climate Agreement from 2015 regarding a maximum global temperature increase of two degrees Celsius, and as close as possible to 1.5 degrees." Furthermore, the firm should, in its 2018 report, follow the recommendations of the so-called Task Force on Climate-related Financial Disclosures (TCFD), according to the proposal.

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