Japan’s top independent utility Electric Power Development Co., known as J-Power, is under pressure from investors including Man Group PLC and Amundi SA to set more stringent targets for climate action.
Shareholder proposals filed by Amundi, Europe’s biggest asset manager, Man Group, the largest publicly listed hedge fund, and others call on the electricity producer to set new short- and medium-term emissions reduction targets and to disclose details on how to meet those goals.
The requests, which are also backed by HSBC Asset Management and the Australasian Center for Corporate Responsibility, follow months of discussions with the firm on its approach to decarbonization, the investors said Wednesday in a statement.