{"id":1939942,"date":"2023-05-28T12:04:13","date_gmt":"2023-05-28T16:04:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/iss-backs-toyota-shareholder-proposal-on-climate-disclosure\/"},"modified":"2023-05-28T12:04:13","modified_gmt":"2023-05-28T16:04:13","slug":"iss-backs-toyota-shareholder-proposal-on-climate-disclosure","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/iss-backs-toyota-shareholder-proposal-on-climate-disclosure\/","title":{"rendered":"ISS backs Toyota shareholder proposal on climate disclosure"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fiss-backs-toyota-shareholder-proposal-on-climate-disclosure%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1939942&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p>By Daniel Leussink and Makiko Yamazaki<\/p>\n<p>TOKYO (Reuters) -Proxy adviser Institutional Shareholder Services (ISS) has recommended that shareholders of Toyota Motor Corp vote in favour of a resolution urging the automaker to improve disclosure of its lobbying related to climate change.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>ISS in a report also regarded three of Toyota\u2019s four outside director nominees as not independent. Toyota said all candidates met the Tokyo Stock Exchange\u2019s independence criteria.<\/p>\n<p>The recommendation comes as Japan\u2019s largest firm by market capitalisation faces pressure from green investors and climate activists which have criticised it for being slower than rivals to embrace all-battery electric vehicles (EVs).<\/p>\n<p>Concerned that Toyota is missing out on profit from soaring EV sales, Danish pension fund AkademikerPension, Norway\u2019s Storebrand Asset Management and Dutch pension investor APG Asset Management want Toyota to commit to a comprehensive, annual review of climate-related lobbying.<\/p>\n<p>A Toyota spokesperson referred to a statement from the board in which it urged shareholders to vote against the proposal, saying the fluidity of such disclosure made the proposal unsuitable for enshrining in the articles of incorporation.<\/p>\n<p>\u201cToyota does not provide shareholders with enough information to evaluate its lobbying activities,\u201d ISS said.<\/p>\n<p>\u201cShareholders would benefit from the company disclosing information about direct, indirect, and grassroots lobbying in the various regions where it operates.\u201d    <\/p>\n<p>Hurdles are high for the resolution to pass because it requires a two-thirds majority and Toyota\u2019s shareholder base includes suppliers and other business partners.<\/p>\n<p>Proxy adviser Glass Lewis has not backed the resolution, saying Toyota has shown \u201csignificant responsiveness\u201d to shareholders.<\/p>\n<p>Toyota, which seeks to sell 1.5 million all-battery EVs by 2026, has long argued that a range of power solutions, such as battery-petrol hybrid and hydrogen fuel cells, will be necessary to reach carbon neutrality.<\/p>\n<p>This month, Toyota\u2019s top scientist said focusing on all-battery EVs could encourage some drivers to hold onto polluting vehicles, and that a lack of resources means battery-only cars cannot be the industry\u2019s sole response to climate change.<\/p>\n<p>INDEPENDENCE<\/p>\n<p>ISS also argued that three of four nominees to Toyota\u2019s 10-member board that the automaker said are independent should be considered \u201caffiliated\u201d due to the firm\u2019s relationships with the nominees\u2019 current or former organisations.<\/p>\n<p>Such organisations include the International Paralympic Committee, with which Toyota has mobility partnership, and the firm\u2019s main lender, Sumitomo Mitsui Financial Group Inc.<\/p>\n<p>\u201cWe have determined there are no concerns regarding the objectivity, independence and ability to conduct appropriate oversight,\u201d Toyota said in a statement.<\/p>\n<p>Japan\u2019s corporate governance code requires at least one-third of directors be independent at companies listed on Tokyo\u2019s bourse\u2019s main section.<\/p>\n<p>Still, ISS recommended a vote in favour of the candidates as voting otherwise \u201cmay run the risk of actually increasing management dominance of the board\u201d.<\/p>\n<p> (Reporting by Daniel Leussink and Makiko Yamazaki; Editing by Christopher Cushing)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/iss-backs-toyota-shareholder\/attachment\/file-photo-toyota-cars-are-seen-after-a-briefing-on\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>President Joe Biden nominates General Charles Q. 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House speaker McCarthy says they\u2019re close but no deal yet. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Eduardo Baptista BEIJING (Reuters) \u2013 China\u2019s cyberspace regulator said 1.4 million social media posts have been deleted following a two-month probe\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>TOKYO (Reuters) -The United States and Japan will deepen cooperation in the research and development of advanced chips and other technologies, they\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jonathan Stempel (Reuters) \u2013 A former public relations firm for Twitter sued the social media company on Friday, saying it has\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Supantha Mukherjee and Martin Coulter (Reuters) \u2013 OpenAI has no plans to leave Europe, CEO Sam Altman said on Friday, reversing\u2026 <\/p>\n<\/p><\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Daniel Leussink and Makiko Yamazaki TOKYO (Reuters) -Proxy adviser Institutional Shareholder Services (ISS) has recommended that shareholders of Toyota Motor Corp vote in favour of a resolution urging the automaker to improve disclosure of its lobbying related to climate change. Advertisement ISS in a report also regarded three of Toyota\u2019s four outside director nominees<\/p>\n","protected":false},"author":66,"featured_media":1939943,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[4321,9418,26047,5210,15210,5889],"class_list":["post-1939942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-climate","tag-disclosure","tag-iss","tag-proposal","tag-shareholder","tag-toyota"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1939942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1939942"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1939942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1939943"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1939942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1939942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1939942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}