UK pensions group says backs climate resolution at Mitsubishi UFJ

Credit: REUTERS/Toru Hanai

A leading British local government pension group on Monday said it advised members to back a climate resolution at Japanese financial services group Mitsubishi UFJ's annual meeting this week.

LONDON, June 28 (Reuters) - A leading British local government pension group on Monday said it advised members to back a climate resolution at Japanese financial services group Mitsubishi UFJ's 8306.T annual meeting this week.

The Local Authority Pension Fund Forum (LAPFF), whose member schemes manage more than 300 billion pounds ($393.18 billion) in assets, said it backed a call for the group to disclose and allow shareholders to vote on its climate plans annually.

"LAPFF considers Mitsubishi UFJ has made progress in setting out its strategy to address climate change related risks and its commitment to set an interim target for 2030 in 2022," said LAPFF Chair Doug McMurdo.

"However, presenting an annual plan that included short and medium term targets would enable the group to respond quickly and strategically to international and national policy objectives."

The AGM will take place on June 29.

(Reporting by Simon Jessop; editing by Carolyn Cohn)

((simon.jessop@thomsonreuters.com; +44 (0) 207 542 5052; Reuters Messaging: Reuters Messaging: simon.jessop.thomsonreuters.com@reuters.net))

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