Toyota shareholders reject proposal demanding better performance on climate change

By YURI KAGEYAMA
AP Business Writer

TOYOTA, Japan (AP) — Toyota executives have fielded challenges and reaped praise from investors at an annual general meeting 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. The rejection at the meeting, in Toyota city, central Japan, was expressed by applause and was widely expected. The majority of Toyota shares are held by the company and its group companies, retired employees and others sympathetic to the company’s perspective.