Transportation is the largest source of climate-disrupting pollution in the US. To tackle its massive carbon footprint, we must eliminate all gas-guzzling cars and trucks by fully shifting to battery-electric vehicles.
Toyota joined the group of automakers that sided with the Trump administration in its attempt to reverse Obama-era Corporate Average Fuel Economy (CAFE) standards. Over the past several years, it also tried to undermine emissions standards in the US, Australia and the EU.
Toyota is at odds with the global community. 54 consumer and environmental groups from 26 countries wrote to the new CEO of Toyota, Mr. Koji Sato, urging him to phase out all combustion engine vehicles.
He questioned a rapid transition to electric vehicles, even as other nations commit to an all-electric future.
¹Source: Financial Times, 2021
Toyota is set to pay² the largest civil penalty ever levied³ in US history for breaching federal emission-reporting requirements.
Investors are concerned about Toyota’s position.
Three institutional investors, with combined holdings of $400 million in Toyota, have submitted a resolution to this year’s AGM in June urging the company to review its anti-climate lobbying