Japan’s biggest banks face climate votes at AGMs as activism grows By Reuters – Investing.com

Japan’s biggest banks face climate votes at AGMs as activism grows By Reuters – Investing.com

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© Reuters. FILE PHOTO: The sun is reflected on a solar panel at a solar power field in Kawasaki, near Tokyo



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By Aaron Sheldrick TOKYO (Reuters) - Mitsubishi UFJ (NYSE:) Financial Group, and Sumitomo Mitsui (NYSE:) Financial Group, Japan's two biggest banks, are being targeted with climate resolutions from activist shareholders at their annual shareholder meetings. Shareholders at Mizuho Financial Group, the other member of Japan's 'Big Three', voted on a similar resolution at its annual general meeting (AGM) last year. While the proposal to align Mizuho's business with the 2015 Paris climate accord was defeated, it was the first listed company in the country to hold such a vote, and support for the resolution, at 35%, showed Japanese attitudes were changing. Once a rarity and easily rebuffed, shareholder votes on environmental issues have become increasingly common elsewhere and