John, In the lead up to Toyota’s AGM on June 14, Ekō members from all around the world sent their pension, mutual and superannuation funds emails asking shareholders to vote for Toyota to go green. It worked, but I need to explain – Chairman Akio Toyoda’s approval rating plummeted by 11%. Anything less than 95% approval is considered a rebuke at shareholder meetings in Japan. What’s more, about 15% of shareholders voted to support a resolution asking the carmaker to issue an annual review of its climate lobbying activities.
It’s not a victory, but it’s a clear sign that climate-conscious investors are concerned about the road Mr Toyoda has steered the carmaker down. In Australia Toyota has been leading the car lobby’s dirty lobbying to keep pollution regulations weak and riddled with loopholes so it can keep selling its gas guzzling vehicles. But Toyota’s greenwash is peeling off. Let’s make sure Toyota doesn’t get away with driving the story and call on the car company to stop pushing polluting petrol cars. We can win this together – We have to. As countries like the US, New Zealand, the UK and EU pass regulations to phase out polluting petrol vehicles, countries in the Global South are at risk of becoming a dumping ground for cars Toyota can’t sell anywhere else. Toyota is still lobbying to prevent electric vehicle mandates and clean air laws, but the shareholder vote this month shows that it’s a controversial topic, even among insiders.
→ Tell Toyota to get out of the slow lane and accelerate its plans for all-electric vehicles. More than 52,000 Eko members from all around the world have already signed the petition. Will you add your name too?  Thanks for all that you do, More information: Toyota faces down activist investors over climate lobbying
Sustainable Views. 21 June 2023. Toyota shareholders make 15% the new win-win
Reuters. 16 June 2023. Daily Maverick. 14 June 2023.
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