Page 2 - Anders Schelde News Today

A climate change proposal targeting Toyota was shot down by shareholders on Wednesday, dealing a blow to efforts from three European funds to make the Japanese carmaker comply with their environmental, social, and corporate governance (ESG) norms.

It's a matter of the independence of the chair," said Anders Schelde, chief investment officer of Denmark's AkademikerPension, which is a shareholder. "That, combined with the global climate issue, makes us vote against Mr. Toyoda." The automaker says Toyoda was nominated to the board for his ability to drive the transformation from manufacturing to providing a range of mobility services. It says its board meets Tokyo Stock Exchange governance standards for independent o...

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Toyota executives have fielded challenges and reaped praise from investors at an annual...

Danish fund AkademikerPension has accused the car giant of lobbying to weaken global efforts to phase out the internal combustion engine.

AkademikerPension, a $20 billion Danish investment fund, accused Toyota of lobbying to weaken efforts by governments around the world to phase out the internal combustion engine.

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.

Shareholders applauded when rejecting the proposal.

The upcoming Toyota AGM may consider motions that demonstrate a shareholder revolt over the companies lagard status in the EV revoluton.

Investors in Toyota have backed the company’s management and rejected a shareholder challenge on its climate policy.