Chubu Electric Power Company, Incorporated | Disclosure of climate change-related risk management at Chubu Electric Power Company, Incorporated

Status
9.30% votes in favour
AGM date
Previous AGM date
Proposal number
13
Resolution details
Company ticker
9502
Lead filer
Undisclosed filer
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
To add the following new chapter to the Articles of Incorporation: Chapter X. Climate Change-Related Risk Management (Disclosure of the Information on Financial Impact Assumed in the Event of Failure to Achieve the 1.5℃ Target under the Paris Agreement) Article X. In light of the Company's "Zero Emission Challenge 2050" declaration, commitment to the Paris Agreement (pursuit of the 1.5℃ target), economic costs associated with physical risks due to climate change, and the Company's business plans, the Company shall disclose quantitative assessments of the following matters. ① Prospects of financial impacts (including potential asset impairments) arising from transition risks that the Company's current strategies and business plans may face under a 1.5℃ warming scenario. ② Prospects of financial impacts (including potential asset impairments) arising from physical risks that the Company's current strategies and business plans may face under "Current Policies Scenario" presented by the Network for Greening the Financial System (NGFS) and other scenarios based on climate science that would overshoot the Paris Agreement temperature target. ③ The degree to which the prospective financial impact of risks ① and ② above will affect the evaluation of future capital expenditures and the decision-making process. Such disclosure shall be made to the extent costs therefor does not exceed reasonable range and shall exclude any information that constitutes trade secrets.

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
Allianz Global InvestorsForAllianzGI supports this proposal, as we view the assessment of physical and transition risks as material and encourage milestone-driven disclosures to reassure shareholders of long-term commitment.

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