Shareholders urge Japanese companies to take urgent climate action

Shareholders representing $22 billion USD (3 trillion yen) investment corporations have put four of Japan’s largest companies in the spotlight on climate-risk management – Mitsubishi Corporation, Sumitomo Mitsui Financial Group (SMBC Group), and two utilities Tokyo Electric Power Company Holdings (TEPCO) and Chubu Electric Power Co who jointly own JERA, the largest thermal power generator in Japan.

The shareholders include civil society organisations or their representatives, including 350.org Japan, Friends of the Earth Japan, Kiko Network, Market Forces and Rainforest Action Network. 

The votes demonstrate that the tide has turned for companies failing to align their business practices with the growing risks due to the climate crisis. There is a strong momentum of institutional investors and shareholders who are demanding action to counter these grave threats.