Shareholders ask that the following clause shall be added to the Articles of Incorporation of the Company:
1. To promote the long-term corporate value of the Company, given the risks and opportunities associated with climate change, and in accordance with the Company’s commitment to achieve carbon neutrality by 2050, the Company shall set and disclose a business plan with science-based short- and mid-term GHG emissions reduction targets aligned with Articles 2.1(a) and 4.1 of the Paris Agreement.
- The Company shall report, in its annual report, on its progress against the business plan specified in the preceding paragraph on an annual basis.
Long-term institutional investors in the Company see its corporate value depending upon a credible decarbonization strategy and science-based short-, medium- and long-term GHG emissions reduction targets aligned with the goals of the Paris Agreement and investor expectations.
While we welcome the Company’s intention to achieve carbon neutrality by 2050, the Company’s targets are not yet aligned with the goals of the Paris Agreement. This presents a range of material financial risks to shareholders. We consider that setting science-based targets, and disclosing a business plan to achieve them, would best manage these risks and protect corporate value.
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