ACCR Company Engagement J-POWER
Electric Power Development Co Ltd (J-POWER) is the sixth largest energy utility in Japan.
J-POWER (TYO: 9513) is Japan’s largest coal power operator, reporting 64.88 million tonnes of CO2 emissions in FY2020 (equating to 5.6% of Japan’s total emissions). J-POWER has interests in 17 power projects around the world - fueled by gas, coal, hydro and biomass. It also has investments in Australian coal mines.
ACCR and a US$3 trillion investor group including Man Group, HSBC Asset Management and Amundi filed three shareholder proposals for consideration at J-POWER’s ordinary general meeting of shareholders in 2022. ACCR and the investor group had been engaging privately with J-POWER on its decarbonisation commitments and strategy since January 2022.
