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 US$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.
Toyoda and other company officials defended their green record, noting Toyota is aiming for carbon neutrality, or net-zero carbon emissions, in its lineup by 2050. "Toyota plays a pivotal role in the Japanese automotive related industry, which leads the country's manufacturing and economy," said Herman Slooijer, CIO a APG Asset Management.
Toyota's latest environmental initiatives include the development of the all-solid-state battery for EVs by as early as 2027. "Diversity of technology is certainly something that I can agree with in principle," said Daniel Read, overseeing climate and energy campaign at Greenpeace, "but in fact the options are quite limited."
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