Allianzgi: vote in favor of two shareholder resolutions at the General Assembly of Chubu Electric Power

“Support for these proposals is in accordance with our commitment to governance. Meanwhile, an effective stewardship,” explains Matt Christensen. Similarly,

Allianz Global Investors announces his intention to support two shareholders’ resolutions at the next annual general meeting (AGA) of Chubu Electric Power. Similarly, which will be held on June 26, 2025. However, Votes concern resolution 12: “Publication of the audit of financial risks by the evaluation of the audit. Moreover, surveillance committee”, and resolution 13: “Publication of the financial impact of the non-deputy 1.5 degrees Celsius as part of the Paris Agreement ”. Moreover, As is customary in Japan. Nevertheless, proposals are in the form of a request for modification of the statutes of the company.

Chubu Electric Power ranks among the largest Japanese public companies with significant emissions. with a domestic thermal capacity of more than 59GW via Jera and allianzgi: vote favor two shareholder a non -thermal capacity of 9.2 GW in March 2024. His “Zero Emissions Challenge 2050” aims to reduce CO₂ emissions by 50% by 2030. However. a 37% reduction was made on the date of the end of 2023 With little progress since 2020 and even an increase in emissions in 2022. Since 2022, climate -related resolutions have been filed on several occasions at the CHUBU AGA, receiving support of 19.9% ​​(2022), 19.6% (2023) and 23.3% (2024). These initiatives have targeted the resilience of assets, the publication of policy and the skills of administrators.

The two resolutions supported by Allianzgi are linked to the climate. request that the Board of Directors deal with the financial risks of the climate transition, by clarifying the field of action of the audit and surveillance committee, and that an assessment of the financial impact of transition risks and physical risks is carried out within the allianzgi: vote favor two shareholder framework of scenarios, including that which the company has publicly committed to implement. Given the importance of its thermal portfolio. Chubu is exposed both to physical risks and the risks linked to the transition. Indeed, despite a decarbonization roadmap and an ambitious transition objective, progress has been slow. Detailed and centered information on key steps is essential to reassure shareholders on Chubu’s engagement. These include clear financial information, including planning significant investment expenditure within the framework of various climatic scenarios.

Matt Christensen. World Head of Sustainable Investment and Impact Manager at Allianzgi, comments: “Our decision to vote in favor of these two resolutions reflects the great importance that we attach to the surveillance by the board of directors of climate risk and their financial impacts which are major. The strengthening of TOP -Down surveillance through a rigorous evaluation. better transparency on the part of the audit and surveillance committee – allianzgi: vote favor two shareholder guaranteeing the competence of administrators in terms of climate assessment and monitoring – is essential in a regulatory context in constant evolution. Support for these proposals is therefore in accordance with our commitment to governance and effective stewardship. At Allianzgi, it is our duty, on behalf of our customers, to exercise our voting rights in a thoughtful way. ”

At the beginning of the year. Allianzgi announced in advance its votes at the annual general assemblies of Stellantis, Adidas, Meta and Alphabet on various resolutions of shareholders concerning remuneration, governance and social issues.