14 June 2022
Today, Monday, June 13, two days before the Toyota Motor Corporation AGM 2022, Danish pension fund AkademikerPension, with over USD 19 billion of assets under management and an active shareholder towards Toyota Motor, expresses serious concerns over ongoing negative climate lobbying.
Through this lobbying activity Toyota appears to have repeatedly sought to weaken legitimate attempts by governments around the world to phase out internal combustion engines, and to phase in fuel economy standards and, critically, pure electric vehicles as the world heads towards renewable energy and electrification.
‘In our view – and in the view of many other investors – the lobbying work undertaken by Toyota Motor has given the company a global laggard status on climate action within the auto sector. Public statements, increasing pressure on national governments to weaken EV policies and behind the scenes advocacy through business associations has been repeatedly obstructionist towards the bans on cars that are not purely electric. This is jeopardizing Toyota’s valuable brand to the detriment of shareholder interests”Source: AkademikerPension
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