Chubu Electric Power Company, Incorporated | Amendment to articles of incorporation (capital allocation aligned with net zero 2050) at Chubu Electric Power Company, Incorporated

20.00% votes in favour
AGM date
Previous AGM date
Resolution details
Company ticker
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
Company sector
Company HQ country
Resolved clause
Partial amendment to the Articles of Incorporation (Alignment of capital allocation with a net zero by 2050
Whereas clause
The following clause shall be added to the Articles of Incorporation:
Chapter: “Transition Plan”
Clause: “Alignment of capital allocation with a net zero by 2050 pathway”
1. To promote the long-term success of the Company, given the risks and opportunities associated with climate change, the Company shall set and disclose a policy demonstrating how it will align material strategic capital investments with a net zero by 2050 pathway as per the Company’s Zero
Emissions Challenge 2050 (hereinafter referred to as “this policy”).
2. To support this policy, the Company shall assess and report how a net zero by 2050 pathway would affect the assumptions, costs, estimates and valuations underlying the Company’s strategic capital investments, inclusive of all group companies and business segments. The disclosures shall
omit proprietary information.
Supporting statement
This proposal requests that the Company disclose necessary information in order for shareholders to ensure the Company’s transition plans are aligned with a scenario where carbon neutrality is achieved by 2050.
The Chubu Electric Group is exposed to significant transition risk, given its involvement in fossil fuel-related businesses is set to expand under current plans. It is, therefore, critical for the Company to reduce financial risk by ensuring its transition plans include a framework to align the capital allocation of all business segments of the Company with a net zero by 2050 pathway.
The disclosure this proposal seeks is commonly expected among investors through the Task Force on Climate-related Financial Disclosures (TCFD), investor groups (e.g. CA100+), and shareholder proposals in other markets. Global peers of the Company are already disclosing this type of information and shifting away from fossil fuels.
Approval of this proposal will provide investors with critical information required to understand the security of their capital. It will also place the Company in a better position to manage transition risk and opportunities, and to maintain long-term corporate value as the Company shifts toward a decarbonized economy.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.