Wagners board faces shareholder questions on Adani
WAGNERS Holding Company has addressed concerns from some of its shareholders about the business' commitment to climate change and carbon reduction practices.
A bid from 100 shareholders, representing a small fraction of the company, failed in a bid to inscribe climate change action within the company's constitution at the annual general meeting in Toowoomba yesterday.
The board, featuring chairman Denis Wagner and his brother John, was also grilled with questions from the floor about its commitment to build an airstrip for the controversial Adani mine in the Galilee Basin.
Denis Wagner acknowledged the concern, adding that the company invested millions every year into its earth-friendly concrete product and also supplied to renewable projects like the Coopers Gap Wind Farm.
"There was some concern in the AGM about climate change and climate performance and some of the potential clients that we're working for," he said.
"However, it was a good opportunity to explain to those people the environmental credentials of Wagners and the things we're doing to enhance or reduce carbon output around the world."
Environmental activist and Wagners shareholder Ben Pennings said the company's contract with Adani was disappointing.
"Wagners got an award for saving 9000 tonnes of carbon dioxide emissions, but the Galilee Basin mine has a potential 29 million tonnes of carbon in it," he said.
"To us, it's a huge shame for a company that prides itself on its earth-friendly concrete," he said.