On Wednesday, Toyota (7203.T) shareholders rejected an exceptional climate resolution and supported its board.
Given management support among Japan’s investors and the number of Toyota group firms and suppliers in its shareholder base, three European asset managers’ climate lobbying resolution was likely to fail.
Shareholders approved all ten board members. Due to board independence concerns, certain significant U.S. pension funds declared they would not vote for Chairman Akio Toyoda.
No voting breakdown was reported. The world’s largest manufacturer announced an ambitious EV strategy a day before the shareholder meeting.
That proposal, which included solid-state battery details and massive production changes, was the clearest indication that Toyota aspires to dominate the battery EV sector.
The Japanese firm’s delayed EV rollout has angered activists and green investors. Toyota targets carbon neutrality via EVs, petrol-electric hybrids, and hydrogen fuel cells.
Their technique decreases carbon emissions and is more feasible because consumer needs, EV infrastructure, and renewable energy supply vary by country.