Trading houses
Mitsubishi Corporation
Summary
Mitsubishi Corporation’s current climate targets and disclosures are insufficient for investors to conclude it has a viable pathway to meet its own net zero by 2050 commitment.
Key points
- Mitsubishi Corporation’s Scope 3 emissions, at 381 million tons, are greater than either the UK or France’s annual fossil emissions, but the company has no targets to reduce them in line with its own commitment to net zero emissions by 2050.
- Mitsubishi Corporation lacks adequate disclosure to demonstrate a viable pathway to its net zero commitment.
- Mitsubishi Corporation’s Liquified Natural Gas (LNG) expansion plans ignore lowered LNG demand in emerging Asia and undermine its own climate commitments, creating financial risk for the company and its investors.
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Shareholder proposal April (EN/JA)
Investor briefing Apr 10
Webinar: Climate related shareholder proposals 〜How should companies consider ESG engagement?〜
[70 minutes]
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Disclaimer
Informational purposes only – This communication is provided solely for informational purposes only and is not, and should not be construed as, investment advice or investment recommendations for the purposes of the Financial Instrument Exchange Act of Japan.
No joint-exercise of voting rights – Nothing in this written communication, nor in any related oral discussion, is intended to be, nor should it be construed as, an offer, an acceptance or a consent, to enter into an agreement for the joint exercise of voting rights or any other shareholder’ rights for the purposes of the Financial Instrument Exchange Act and Foreign Exchange and Foreign Trade Act of Japan. If needs be, it is hereby emphasised that each shareholder exercises its shareholder’s rights independently based upon its own decision and shall not be held liable for its exercise of its shareholder’s rights in any event or in any result, as a breach of any discussion between the shareholders.
No proxy solicitation – Nothing in this written communication, nor in any related oral discussion, is intended to be, nor should it be construed as, a “solicitation for proxies” for the purposes of the Financial Instrument Exchange Act of Japan. The shareholder is not soliciting or seeking any authorization by any other shareholders to exercise their voting rights or any other shareholders’ rights on their behalf or as their agent at the annual shareholders’ meeting. This is a non-commercial product for public dissemination only. Not for sale.
Analysis featured in this briefing does not substitute analysis and disclosure from the companies themselves with primary information. The purpose of the information featured here is to demonstrate to investors the substantial climate-risks the companies are exposed to, and encourages them to undertake their own detailed, forward-looking analysis to demonstrate to investors how they are managing these risks.