The shareholders' meeting for the development of the largest power source in Japan for coal-fired power was held, and the shareholder proposal for reviewing the decarbonization target jointly submitted by overseas environmental groups and institutional investors was rejected.
Electric Power Development Co., Ltd. states that it will "continue to achieve a stable supply of energy and respond to climate change."
Electric Power Development Co., Ltd. is the largest coal-fired power generation company in Japan, and has set a goal of reducing domestic carbon dioxide emissions by 40% by 2030 and achieving virtually zero by 50 years as a decarbonization strategy.
On the other hand, shareholder Australian environmental protection groups and institutional investors in the United Kingdom and France have proposed a shareholder request to review the decarbonization target, saying that the technology of the company that decarbonizes thermal power generation is not feasible. Was jointly submitted.
At a shareholders' meeting held in Tokyo on the 28th, the proposed shareholders said, "The company's decarbonization strategy lacks details and faces significant financial risks and technical uncertainties." In response, the management side opposed the proposal from shareholders, saying, "We have formulated and announced a concrete plan including short-term and medium- to long-term emission reduction targets, and disclosed the progress status."
After that, a vote was taken and the proposal was rejected without the support of two-thirds required for the pass.
Electric Power Development commented, "We would like to continue to contribute to the realization of a carbon-neutral society by 2050 while striving to achieve both a stable supply of energy and response to climate change."