Environmental shareholder activism comes to Japan as Mizuho faces climate resolution

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Environmental shareholder activism comes to Japan as Mizuho faces climate resolution
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More investors are publicly backing a resolution to curb coal project lending that shareholders of Mizuho Financial Group are expected to consider ...

More investors are publicly backing a resolution to curb coal project lending that shareholders of Mizuho Financial Group are expected to consider this week, the first time such a step is to figure at the annual meeting of a Japanese listed company.

"This is a pivotal moment for companies to show their dedication to the future financial and climate-related sustainability of their business models," said Dewi Dylander of Danish pension fund PKA. Blackrock, which holds about 5per cent of Mizuho, a stake worth about US$1.3 billion), declined to comment.

But Japanese banks have been among the biggest financiers to coal over the last five years, Refinitiv SDC Platinum says.

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