The Kansai Electric Power Company, Incorporated | Partial Amendment to Articles of Incorporation of Company (1)_ Denuclearization at The Kansai Electric Power Company, Incorporated

Status
3.80% votes in favour
AGM date
Previous AGM date
Proposal number
5
Resolution details
Company ticker
9503
Lead filer
Resolution ask
Adopt or amend a policy
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
Supporting statement
It is deemed that Article 2 of the Articles of Incorporation states the purpose of business; however, it actually enumerates the content of the Company’s business. This proposal suggests the inclusion of the above sentence as the purpose of business. In February 2021, the Company established a target to achieve carbon neutrality as a whole by 2050 in “Zero Carbon Vision 2050.” However, it does not specify a reduction target for 2030, and states that nuclear power plants will be used to the maximum extent possible. Compensation and lawsuits arising from nuclear accidents if and when they happen are management risks. In Ukraine, the risk of nuclear power plants becoming military targets has become apparent. In addition, risk and cost of nuclear power plants have caused injustice to society like climate change. For example, it is future generations that will bear the costs and risks of accidents and radioactive waste management. The shortfall in the reserve for accident compensation costs and the costs associated with decommissioning have been collected through transmission tariffs, and even electricity consumers who do not purchase the electricity from nuclear power plants are burdened. Denuclearization will eliminate involvement in such injustice, and lead to restoring the Company’s trust and business predictability.

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