HomeIndustriesToyota Climate Resolution Receives Backing From ISS

Toyota Climate Resolution Receives Backing From ISS

Proxy adviser Institutional Shareholder Services (ISS) has thrown its support behind a climate change resolution that is set to be introduced in the Toyota Motor Corp’s next shareholder meeting. The resolution calls on Toyota to provide more disclosure to shareholders with regard to its lobbying activities concerning climate change.

The motion of support for the resolution from the ISS comes after several climate activist bodies have already placed pressure on the automaker to transition towards all-battery electric vehicles.

Among those firms that have expressed an interest in this transition are Danish pension fund AkademikerPension, Dutch pension investor APG Asset Management, and Norway’s Storebrand Asset Management, all of whom want the Japanese automaker to commit to an annual review of its climate-change lobbying.

Toyota had urged its shareholders to vote against the proposed legislation, however, saying that the level of disclosure that is required by the resolution is unsuitable to implement in the company’s existing articles of incorporation.

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