Shareholders call on J-Power to set emissions reduction targets

According to a statement by research and advocacy organisation Australasian Centre for Corporate Responsibility (ACCR), institutional investors have filed a set of climate-related shareholder proposals at Japanese power company J-Power. The proposals were co-filed by Man Group, Amundi and HSBC Asset Management. According to ACCR’s statement, one the proposals received the backing of 26% of shareholders and the proposals were also supported by proxy advisors Glass Lewis and Institutional Shareholder Services. The proposal with 26% support calls on the company to “set a business plan and short and medium-term emissions reduction targets aligned with the goals of the Paris Agreement”. These investor demands for emissions reduction at one of Japan’s largest coal power operators marks a landmark moment in Japanese investor relations, according to ACCR.