Toyota shareholders reject proposal demanding better performance on climate change
Toyota executives have fielded challenges and reaped praise from investors at an annual general meeting where shareholders ultimately rejected demands the automaker do better on fighting climate change
By YURI KAGEYAMA
Published - Jun 14, 2023, 12:18 AM ET
Last Updated - Jun 21, 2023, 08:21 AM EDT
TOYOTA, Japan (AP) — Toyota executives fielded challenges and reaped praise from investors at an annual general meeting Wednesday where shareholders ultimately rejected demands the automaker do better on fighting climate change.
The investor proposal was initiated by AkademikerPension, a $20 billion Danish investment fund. It accused Toyota Motor Corp. of lobbying to weaken efforts by governments around the world to phase out the internal combustion engine.
Shareholders applauded in rejecting the proposal, as expected, at the meeting in Toyota city, central Japan.
The majority of Toyota shares are held by the company and its group companies, retired employees and others sympathetic to the company's perspective.
