Climate Change Takes Spotlight at Shareholders’ Meetings

Economy

Tokyo, June 18 (Jiji Press)--Climate change has become a major theme at general shareholders’ meetings of many Japanese companies being held this month, with shareholders proposing strict measures and companies touting their accomplishments on the issue.

Climate change-related shareholder proposals have been increasing recently in other countries.

In Japan, only one such proposal was submitted last year to companies other than power utilities, but such proposals have been submitted to financial institutions and trading houses this year.

Japanese nonprofit organization Kiko Network submitted a joint proposal with other environmental groups calling on Mitsubishi UFJ Financial Group Inc. <8306> to create a provision in its articles of incorporation that would require it to disclose investment plans related to measures against global warming.

Kiko Network submitted a similar proposal to Mizuho Financial Group Inc. <8411> last year that was voted down but surprised the industry after garnering support from over 30 pct of shareholders.

[Copyright The Jiji Press, Ltd.]

Jiji Press