[Webinar] Transition Finance & Climate-related shareholder proposals
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- Mr. Sakon Kuramoto, Attorney-at-Law of Japan, Attorney-at-Law of the State of New York, U.S.
- Ms. Chie Mitsui, Senior Researcher, Nomura Research Institute
- Ms. Meg Fukuzawa, Energy Finance Campaigner, Market Forces
- Mr. Nick Spooner, Climate Change Engagement Specialist, Robeco
- Rebecca Sherratt, Vice-president: Publications Editor, Insightia, a Diligent Brand
- Koh Matsuki, CEO, Proxy Watcher
About this event
How should companies consider ESG engagement?
The shareholder proposals to these 6 companies call for them to disclose business plans that include medium-term and short-term greenhouse gas reduction targets consistent with the Paris Agreement goals, and initiatives toward virtually zero (net-zero) carbon emissions by 2050.
Historically, this trend started in the AGM season of 2020, when Kiko Network filed a shareholder proposal to Mizuho Financial Group. Since then, Japanese trading houses, banks, and utility companies have faced shareholder proposals seeking disclosure of critical risk management information as those companies’ current practices and policies contradict their own net zero emissions by 2050 commitments.
Many of these companies updated their climate policies and changed their investment strategies in order to meet with Paris Agreement due to these shareholder engagements. Notably, for example, Sumitomo Corporation announced in February 2022 that they decided not to be involved in any new coal-fired power generation business, and they withdrew the planned expansion of the Matarbari power plant in Bangladesh.
However, according to various shareholders/investors, many Japanese companies for lending/financing are still not aligned with Paris Agreement Goals. In particular, investors and think tanks have voiced concern that Japan has not adequately demonstrated a plan for transitioning from high emission projects, despite the fact that Japan is expected to lead Transition Finance in Asia.
(*Transition finance refers to investments and loans that support the transition from carbon-intensive business activities that emit large amounts of carbon dioxide to the decarbonized business.)
Also, ministers from Canada and the U.K. also disagreed with Japan’s strategy to protect coal power in G7 Ministers’ Meeting on Climate, Energy and Environment. With G7 summit in Hiroshima and AGM season coming up in Japan.
We have assembled a panel of experts to dive deep into Transition Finance and the background of climate-related shareholder proposals and realize Paris-aligned corporate Japan.
If you are unable to attend, you can watch the replay later at a time that suits – so please just RSVP now.