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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.