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Mizuho investors demand transparency on coal exposure

Shareholder resolution on climate a first for corporate Japan

The world's leading lender to coal power projects is about to face Japan's first shareholder call for corporate action on climate change. (Photo by Tsuyoshi Tamehiro)

TOKYO -- Mizuho Financial Group is about to come up against Japan's first shareholder call for corporate action on climate change as campaigners take aim at the world's leading lender to coal power projects.

At the bank's annual meeting this month Mizuho investors will vote on a resolution submitted by the environmental group Kiko Network that would amend the articles of incorporation to require annual disclosures on "a plan outlining the company's business strategy, including metrics and targets, to align its investments with the goals of the Paris Agreement."

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