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MUFG, Sumitomo face climate votes at shareholder meetimgs as activism grows

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By Aaron Sheldrick

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The vast majority of shares are held by institutional investors or other zaibatsu, who aren't going to vote for proposals that will affect the bottom line and reduce profits. So these activists are really only virtue-signaling.

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If you are going to be very reductionist then you could claim almost all activism is 'virtue signalling'.

But without such activism a lot of things we take for granted in the modern world might never have come to pass.

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