Toyota shareholders reject proposal demanding better performance on climate change

By YURI KAGEYAMA
AP Business Writer

TOYOTA, Japan (AP) — Toyota’s shareholders have rejected demands from some investors that the automaker do a better job on fighting climate change. They also endorsed Akio Toyoda’s reappointment as chairman of the automaker. 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 gas and diesel-fueled internal combustion engines. 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.