Banking

Abrdn refuses to vote at Rio Tinto’s AGM over bullying

Top investor refuses to vote on Rio Tinto’s annual report and accounts following bullying scandal

A top investor has refused to vote on Rio Tinto’s annual report and accounts following a bullying scandal. 

Investment manager Abrdn, which owns a 0.29 per cent stake in the mining giant worth £223m, abstained at Rio’s AGM on Friday following a scathing study of its workplace culture published last month. 

Refusal: Abrdn, which owns a 0.29 per cent stake in Rio Tinto worth £223m, abstained at the AGM

The probe, commissioned by Rio Tinto and compiled by the consultancy Elizabeth Broderick & Co, exposed bullying, racism and sexual harassment. 

Andrew Mason, Abrdn’s stewardship director, said: ‘In light of the nature, severity and systemic impacts of the issues raised we have decided to abstain from our vote to approve the company’s reports and accounts.’

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