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MUFJ board beats back climate resolution as activists falter in Japan

18 Comments
By Takashi Umekawa and Aaron Sheldrick

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18 Comments
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Mitsubishi UFJ is Japan's biggest lender and backs numerous coal and fossil fuel projects.

In other words MUFJ are another fossil corporation led by fossils who cannot think beyond a fossil economy where coal, oil and gas are burned in huge quantities.

MUFJ must want to keep Japan beholden to fossil governments like the US, Russia, Iran, Saudi Arabia and the UAE in addition to their own and other' state's fossil mega-corporations, also stuck in the past.

it's 2021 long passed time to move away from the fossil era. Today, Greater efforts to conserve and more alternatives to burning huge amounts of polluting coal and oil are needed.

-3 ( +5 / -8 )

Japan as a nation couldn't care less about climate, its not just this bank

1 ( +6 / -5 )

Any time, any day Japanese companies avoid doing something good for the planet.

0 ( +5 / -5 )

Well Japan is going to be one of the most vulnerable countries to the effects of climate change and sea level rise, considering it has the most populous coastal cities. They will pay for this one way or the other.

-2 ( +5 / -7 )

Yes, if all jump on the same train it derails too.

0 ( +2 / -2 )

Japan has no control over what the shareholders decide. If we're talking about who to blame, well, for starters, shareholders for MUFG include Shanghai Bank...Bank of NY Mellon...

2 ( +3 / -1 )

The longer term effect of this will be detrimental on their share price. Not a decision with much foresight behind it.

2 ( +3 / -1 )

The longer term effect of this will be detrimental on their share price. Not a decision with much foresight behind it.

Au contraire. Share price falls and Japanese buyers can swoop in or buyback.

-3 ( +1 / -4 )

Finally some common sense on the Climate. Well done MUFJ!

To date, Temperature increase of 1 degree from 150 years ago, is not unusual or an amount of concern, and in fact has largely been beneficial to most humans.

Temperature FUTURE predictions are unscientific and will almost all be proven wrong, as are almost all predictions humans make about the future. (eg Al Gore on Kilimanjaro, how wrong can you be...)

Read Freeman Dyson on the climate, one of the worlds greatest scientists and thinkers.

-2 ( +3 / -5 )

Activist investors really underestimated the degree of ossification of Japanese institutions, of course that will not stop MUJF to brag about how green they are in every space they find.

4 ( +5 / -1 )

MUFJ operates with the same technology my bank in America did in the 1980s. They are 40 years behind the times and that board is probably made up of all 80 year olds that are terrified of any kind of change.

4 ( +5 / -1 )

I'm glad I sold my MUJF stock!

4 ( +5 / -1 )

Reckless, ever heard of catching a falling knife?

3 ( +3 / -0 )

@Alex McLaren more like how wrong you are ! dear oh dear

0 ( +2 / -2 )

Temperature FUTURE predictions are unscientific and will almost all be proven wrong, as are almost all predictions humans make about the future. (eg Al Gore on Kilimanjaro, how wrong can you be...)

So your prediction about the future is that all predictions about the future are wrong. Except of course your own prediction about the future which is right because everything you say is by definition right. Am I understanding the logic of your position correctly here?

1 ( +3 / -2 )

@rainyday well said !!

0 ( +2 / -2 )

So your prediction about the future is that all predictions about the future are wrong. Except of course your own prediction about the future which is right because everything you say is by definition right. Am I understanding the logic of your position correctly here?

@rainyday

Correct, almost all predictions all humans (myself inc.) make about the future are wrong. For the theory and reasons, read Nicholas Nassim Taleb books, Black Swan and Fooled by Randomness.

Also read about Chaos Theory, Sensitive Dependence of Initial Conditions etc. as to why we can never make an accurate prediction for deterministic nonlinear systems (eg the climate).

My statement was not a prediction of the future, just an observation of the people who make predictions.

Do you have an example of a 10 year climate prediction that proved accurate? I'd be interested.

0 ( +0 / -0 )

@dan

more like how wrong you are ! dear oh dear

Care to give an example? Once asked someone to give me some evidence about climate change, he sent me a link to a YouTube video with Alanis Morrisette talking about Polar Bears. So please don't do that.

Why do people so passionately believe in Climate Change despite the total lack of evidence?

This book explains it : The True Believer: Thoughts on the Nature of Mass Movements, a 1951 non-fiction book authored by American philosopher Eric Hoffer.

0 ( +0 / -0 )

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