J-POWER | Amendment to the articles of Incorporation (GHG emissions and remuneration) at J-POWER

Status
15.00% votes in favour
AGM date
Previous AGM date
Proposal number
4
Resolution details
Lead filer
Australasian Centre for Corporate Responsibility (ACCR), HSBC Asset Management, Amundi
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • GHG targets / emissions
  • Remuneration or pay
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The following clause shall be added to the Articles of Incorporation:

The Company shall disclose, in its annual reporting, details of how the Company’s remuneration policies will incentivise progress against the Company’s science-based short- and medium-term GHG emissions reduction targets, at a reasonable cost and omitting proprietary information.
Supporting statement
Long-term institutional investors in the Company consider a direct linkage between remuneration and achievement of GHG emissions reduction targets to be in the Company’s interests, as an important mechanism to incentivise executive performance against decarbonisation goals and protect corporate value.

https://www.accr.org.au/news/accr-shareholder-resolutions-to-j-power-on-emissions-reduction-targets-and-remuneration-incentives/

How other organisations have declared their voting intentions

Organisation name Declared voting intentions Rationale
Man Group For J-Power operates in an industry where greenhouse gas (GHG) emissions are considered to represent a financially material risk and the company has not adequately incentivised executives to act in ways that mitigate a company’s climate impact.

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