The Kansai Electric Power Company, Incorporated | Partial Amendment to Articles of Incorporation of Company (3)_Denuclearization and Zero Carbon at The Kansai Electric Power Company, Incorporated

Status
15.20% votes in favour
AGM date
Previous AGM date
Proposal number
15
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
The 6th Strategic Energy Plan sets renewable energy as the future main source of power. Renewable energy such as solar power and wind power (excluding hydropower) currently accounts for less than 1% of all the power sources of the Company. The Company recently clarified its intention to develop additional domestic power sources centered on a large-scale offshore wind power generation in the renewable energy field by 2040 that will supply another 5 million kW. Last year, the Company announced that it would invest more than ¥1 trillion over the next five years for “decarbonization.” However, ¥715 billion will be allocated for works related to safety measures and improvement of nuclear power plants, etc. Meanwhile, if the operation periods are extended to 60 years for all seven nuclear power plants of the Company, only two plants will remain as of 2050. The Company does not have the capability necessary to be in control over the installation, expansion and replacement of nuclear power plants. The Company needs to review its stance of promoting nuclear power plants to hold firm under changeable government policies. We propose that the Company discontinue the operation of nuclear power plants that impair managerial flexibility and cause instability.

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