Mizuho Investors Reject Shareholder Climate Resolution (3)

Mizuho Financial Group Inc. investors rejected a shareholder climate resolution at a annual general meeting Thursday that had placed Japan’s third-largest bank in the spotlight for its financing of coal power projects.

The resolution, which its sponsor said was the first of its kind in Japan, would have required Mizuho to disclose climate risks and publish a plan to ensure its investments are aligned with the Paris Agreement. The Tokyo-based lender said in a statement earlier this month it already discloses goals based on the climate pact and that the proposal was “inappropriate.”

The initiative garnered 34.5% of votes ...