Climate groups target Japan's leading banks' boards for stronger climate risk oversight.

Climate groups, including Australia's Market Forces, Japan's Kiko Network, and Rainforest Action Network, filed shareholder proposals with Japan's leading banks, such as Mitsubishi UFJ Financial Group, demanding stronger board oversight of climate-related risks. This marks the first time climate groups have targeted bank boards to pressure lenders on climate change. The proposals concentrate on board oversight of climate-related business risks and require banks to disclose how they assess director competency for such oversight.