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Climate Change

Japan's J-Power under pressure from global asset managers on coal

Man Group, Amundi, HSBC file proposals to press management at June AGM

Some investors are pushing J-Power to reduce reliance on coal. (Photo by Kaisuke Ota) 

TOKYO -- Three top global asset managers are pressing a major Japanese power provider to set clearer environmental goals and revise its coal-based management, as prominent investors increasingly push companies to take more action on climate change.

U.K.-based Man Group, France's Amundi and HSBC Asset Management announced on Wednesday the filing of three climate-related shareholder proposals to Electric Power Development, which operates coal energy plants across Japan.

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