Toyota shareholders request it disclose climate lobbying efforts, fear it’s missing out on EV profits
Three EU based asset management companies holding millions in stake in Toyota Motor have submitted a shareholder request that the Japanese automaker provide a comprehensive, annual review of its climate-related lobbying efforts. Never one to miss an opportunity to show cynicism toward a steadfast BEV future, Toyota has urged his other shareholders to vote against the proposal.
Even as Toyota softens at the idea of BEVs as the vehicle of the future new leadership, its sloth-like approach to the transition remains a blemish many have not forgotten, including the automaker’s own shareholders.
There is no shortage of news coverage detailing Toyota’s love affair with hybrid vehicles – the Prius did help propel the automaker to superstardom after all. As nearly all other legacy automakers continue to set timelines and expiries on combustion vehicles, Toyota has had a death grip on its bread and butter for quite sometime, and has lobbied against climate change policy to ensure drivers can continue to huff emissions fumes.
That being said, Toyota has turned a new page in its global market strategy, recently appointing Lexus chief branding officer Koji Sato as Toyota’s new global CEO. Sato brings a refreshing outlook on the future of electrification compared to his predecessor, as the company finally admitted “the timing is right” for EVs.
Sato has his work cut out for him, as he has already outlined a roadmap for 10 new BEVs and a bespoke platform, while simultaneously stumbling right back into the company’s “multi-pathway approach” that still includes fuel cell vehicles and of course, hybrids.
Meanwhile, climate organizations have taken notice of the change at the helm and have seized the opportunity to publicly demand the new Toyota chief phase out fossil fuels more quickly.
Now, Toyota’s own shareholders are concerned about the automaker’s lackluster approach to BEVs as well and have requested to learn the efforts Toyota is taking toward lobbying in favor of the environment.
Toyota urges shareholders to vote against lobbying details
Per Reuters, three European asset managers have submitted a shareholder proposal urging that Toyota Motor Corp disclose lobbying activities regarding climate change. The trio includes Danish pension fund AkademikerPension, Norway’s Storebrand Asset Management, and Dutch pension investment company APG Asset Management.
Combined, the asset companies account for about $400 million in Toyota shares, so they have a pretty loud voice in the room. The popular think tank InfluenceMap, has continually given Toyota low ratings for openly opposing policies that would mandate the phase-out of internal combustion engines.
Many other automakers, in the US and Europe especially, have committed to much more ambitious carbon neutrality timelines compared to Toyota, and green investors are starting to worry that the Japanese automaker may miss the zero-emissions boat that’s outlook looks quite lucrative. AkademikerPension’s chief investment officer Anders Schelde spoke:
We’re concerned that Toyota is missing out on profits from soaring EV sales, jeopardizing its valuable brand and cementing its global laggard status. We need concrete policy changes and a better annual review drawing on independent data to calm international investors.
The shareholder proposal requests Toyota deliver an annual review of its climate-related lobbying to truly substantiate whether such lobbying does in fact reduce risks for the company from climate change and aligns with its publicly announced goal of becoming carbon neutral by 2050. The shareholders also seek assurances that Toyota’s lobbying efforts are in line with the Paris Agreement.
Naturally, Toyota has urged its other shareholders to vote against the proposal, which will now be on the docket during the company’s annual meeting in June. Toyota said it expects a five-fold increase in BEVs sales this business year, but we’d argue that’s not a massive feat when you only sell one model of which only a few hundred were delivered in 2022.
Even without the proposed resolution, Toyota’s board has already shared plans to improve its annual report that detail its public lobbying efforts on climate. This year’s report will include help from an “accredited third party” who will evaluate Toyota’s public work with associations in the climate and automotive industries.
Despite all of this, Toyota is still clinging to the argument that the world is not ready for battery electric vehicles and that hybrids and FCEVs will be crucial in bridging the gap. Is it 2018 again?
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DHL Express has more than 10,000 eSprinter vans in its global delivery fleet, but none of those have been deployed in North America – until now, that is! The company recently added 45 new Mercedes eSprinter panel vans, and they’ve got plans for plenty more!
While Mercedes offers its eSprinters with a promised 206 mile estimated range, DHL says it’s consistently seen them exceed 240 miles in stop-and-go delivery duty, making them the longest-range battery electric vehicles in DHL’s US fleet.
This extended capacity makes them ideally suited for urban logistics while expanding their potential use in longer delivery routes. The eSprinter vans also offer the same massive cargo capacity as their diesel-powered brothers, making them efficient last-mile delivery solutions that don’t compromise on payload or operational reliability.
And, of course, the eSprinter will do all of that without the noise, vibration, and harmful carbon emissions of diesel.
“Electrifying our fleet is one of the most visible and impactful ways we are moving toward a more sustainable future,” explains Greg Hewitt, CEO of DHL Express, US. “The Mercedes-Benz eSprinter brings an extended range and proven cargo capabilities that allow us to serve our customers with zero emissions, while also advancing our global goal of more sustainable logistics. These vehicles not only strengthen our operations in major US cities but also set the stage for future electric fleet growth across the Americas.”
The 45 eSprinters will see deployment in Chicago, Indiana, and Pittsburg, and will act as a first step DHL’s global Sustainability Roadmap, which will see the company electrify 66% of its last-mile US delivery fleet (and some of its long-haul fleet operations) by 2030.
Electrek’s Take
In addition to these 45 vans, DHL is electrifying its European and Asian delivery fleets, ramping up its sustainable aviation fuel use, and even exploring electric semis, eVTOL and hybrid aircraft deliveries, and more.
In short, they’re doing the right thing – or seem to be, anyway. Whether or not that commitment to decarbonization will win them more American customers remains to be seen.
SOURCE | IMAGES: DHL, via PR Newswire.
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Enphase Energy just launched a new off-grid system that lets homeowners power their homes without a utility connection – even for extended periods. The California-based Enphase says the off-grid setup delivers a seamless way to live independently from the grid while still using solar, batteries, and a standby AC generator.
A full off-grid setup
The new system combines Enphase’s IQ Battery 5P with embedded grid-forming microinverters, IQ8 Series Microinverters with Sunlight JumpStart, and a third-party standby AC generator. The components work together to supply power to a home and automatically manage energy sources to maximize efficiency and reliability.
If the batteries are drained and the generator runs out of fuel, the Sunlight JumpStart feature can automatically recharge the batteries the next morning once the sun comes up.
The IQ Battery 5P delivers 3.84 kVA of power per 5 kWh of capacity, and systems can be scaled up to 40 kWh and 15.4 kVA. That’s enough power to start big household appliances like HVAC systems or water pumps. The IQ System Controller 3G provides the backbone, managing solar, batteries, and generator inputs to deliver up to 46 kVA of off-grid power.
Smarter control and connectivity
Each system connects to the cloud through Enphase’s IQ Combiner 5C HDK, which bundles solar interconnection, communications, and metering into one box. For homes without reliable broadband, the built-in 4G LTE Cat 4 modem keeps the system online for monitoring, firmware updates, and remote support.
Homeowners can manage everything from the Enphase App – from solar generation and battery status to generator integration and load control.
Why it matters
As grid outages become more common and homeowners look for ways to gain energy independence, off-grid systems like this are becoming more appealing.
“With the launch of our off-grid solution, we are giving homeowners a reliable path to complete energy independence,” said Nitish Mathur, Enphase’s SVP of customer experience. Enphase says over 100 homes are already operating entirely off-grid using its technology. The company plans to expand availability beyond the US in 2026.
Read more: Battery boom: 5.6 GW of US energy storage added in Q2
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Global offshore wind targets are still strong enough to triple global capacity by 2030, despite the US’s offshore wind stagnation under Trump. A new analysis from energy think tank Ember and the Global Offshore Wind Alliance (GOWA) shows that the rest of the world is charging forward, underscoring confidence in offshore wind as a cornerstone of future clean energy systems.
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