Pirate's Cove

The Warmists are trying to game the system by getting involved as minor shareholders and Demanding that companies Do Something. The rest who want a good return from their invest aren’t interested

Toyota shareholders reject proposal demanding better performance on climate change

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 $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.

Shareholders applauded in rejecting the proposal, as expected, at the meeting in Toyota city, central Japan. Some 3,800 shareholders packed a hall at Toyota headquarters. The exact number of the ballots cast will not be disclosed until Thursday, but were taken into account in the vote.

The majority of Toyota shares are held by the company and its group companies, retired employees and others sympathetic to the company’s perspective.

Akademiker Pension has very much joined the climate cult, and is blowing their fiduciary responsibility to make the most for their clients, pushing the scam. If they don’t like the way Toyota runs their business, well, sell the shares.

The resolution filed by the Danish fund was also supported by Norwegian financial services company Storebrand Asset Management and a Dutch pension investment company, APG Asset Management.

“From an investment perspective, we’re concerned that Toyota is missing out on profits from soaring EV sales, jeopardizing its valuable brand and cementing its global laggard status,” Anders Schelde, CIO at the Danish fund, said in a statement ahead of the meeting.

But, is there really that much in the way of profits? Based on Toyota’s record, they know what they’re doing and what their customers want. Certainly better than these European companies.

Major U.S. pensions, including the New York City Comptroller’s Office and the California Public Employees’ Retirement System, backed the climate change proposal.

Are all the executives and employees at all these driving EVs right now?

Outside the grounds where the meeting was held, several demonstrators for Greenpeace were holding up a sign that read: “No fossil fuel cars by 2030.” That target is two decades earlier than Toyota’s.

“Diversity of technology is certainly something that I can agree with in principle,” said Daniel Read, who oversees climate and energy campaigns at Greenpeace, “but in fact the options are quite limited.”

Piss off, dirty hippies cultists.