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Global Pension Funds Oppose Toyota’s ‘Business as Usual’ at Shareholder Meeting

WASHINGTON, D.C. – Shareholders in Toyota Motor Corp. did not pass a climate-related transparency measure up for a vote at today’s shareholder meeting. Former CEO Akio Toyoda was also confirmed as board chair.

East Peterson-Trujillo, clean vehicles campaigner with Public Citizen’s Climate Team, issued the following statement.

“Toyota’s shareholders called for transparency into its lobbying activity and independent leadership of its board at the company’s annual general meeting today, putting Toyota’s opposition to zero-emissions vehicles under scrutiny.

“Some of the largest pension funds in Europe and the United States voted in favor of a measure to require that Toyota provide transparency on how its lobbying of governments around the world aligns with the Paris climate agreement. This was the first time a Toyota shareholder proposed a climate-related resolution targeting Toyota. Many shareholders also opposed Akio Toyoda’s reappointment as the company board chair.

“Though the resolution on Toyota’s lobbying did not pass, the feedback from shareholders is clearly impacting the company, which yesterday announced plans for advanced battery technology.

“But Toyota has yet to make a meaningful commitment to provide the vehicles that consumers want–50% of global car buyers are in the market for an EV–and it has not taken the steps that our climate needs: a time-bound phase-out of polluting combustion engine vehicles.”

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