As efforts toward a carbon-free society accelerate globally, shareholder proposals requesting major Japanese financial groups to set and disclose more in-depth targets for investment in coal-fired power generation projects and reduction of loans. It has been issued.
The focus will be on further accelerating the efforts of financial institutions to be environmentally friendly.
The Japanese NGO "Climate Network", which works on environmental issues, has sent shareholder proposals by the 29th to the general meeting of shareholders of "Mitsubishi UFJ Financial Group" scheduled for June.
Specifically, it requires that short-term and medium- to long-term goals be set and disclosed in line with the Paris Agreement, an international framework for combating global warming.
Financial institutions around the world are moving to stop financing coal-fired power generation, and in 2019, Mitsubishi UFJ has decided not to provide financing for new coal-fired power generation projects in principle.
However, NGOs are calling for more in-depth goals and disclosure, saying that lending to fossil fuel companies such as the coal mine industry continues and is inconsistent with the Paris Agreement.
With the reduction of greenhouse gas emissions becoming a global issue, Japanese financial institutions are also working to tighten lending to coal-fired power plants, but the eyes of environmental groups and investors are becoming stricter. The focus will be on whether this shareholder proposal will further accelerate the efforts of financial institutions.