We have strengthened the algorithm for discounting the impact older evidence on an organization's top-line metrics. Evidence from within the last two years is weighted the strongest and then gradually weighted out of the scoring calculations as it gets older. All evidence that is 5 years or older is completely removed from the scoring calculations. Users will still be able to view older evidence items that are archived the scoring matrix below, but these will not be impacting the organization's current scores.
We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Climate Policy Engagement Overview: Toyota has strategic, mostly negative engagement with climate policy globally in 2022-24. Despite supporting the Paris Agreement, Toyota has opposed policies including stringent GHG emissions standards for vehicles, internal combustion engine (ICE) phase-out rules, and zero-emission vehicle (ZEV) targets in multiple regions.
Top-line Messaging on Climate Policy: Toyota’s top-line messaging on climate change is mostly positive. Toyota supported the Paris Agreement in its 2023 Climate Public Policies Report, published in 2024. In an August 2022 press statement, Toyota stated that it “continues to share the vision” of carbon neutrality goals with California. In a May 2022 press conference statement, former Toyota President Akio Toyoda criticized Japanese climate regulations, stating that they should not limit technology options.
Engagement with Climate-Related Regulations: Toyota has negative, strategic engagement on GHG emissions standards for vehicles globally. In the US, in July 2023 regulatory comments, Toyota opposed the EPA’s proposed higher GHG emissions standards for light-duty vehicles, advocating to reduce proposed zero-emission 2030 and 2032 vehicle penetration rates. A March 2024 New York Times article reported that Toyota had “lobbied hard” against US light-duty GHG standards, “strongly opposing tailpipe rules proposed by the Biden Administration”.
In Australia, Toyota consultation responses in October 2022 and May 2023 on a proposed fuel efficiency (CO2) standard appeared to promote low-stringency CO2 standards aligned with the Federal Chamber of Automotive Industries’ (FCAI) voluntary rules and advocated for numerous compliance flexibilities like multiplier credits that would weaken the rule. A February 2024 Australian Financial Review article later reported that Toyota publicly criticized the Australian government’s proposed CO2 standards as "too ambitious" and a March 2024 Car Expert article reported that Toyota's recent consultation submission on the standard pushed to weaken the rule, including by delaying penalties from 2025 to 2029 and to remove large SUV and utes from passenger vehicle CO2 targets. However, in March 2024, the Guardian reported that a Toyota executive joined a government press conference to announce final legislation for a watered-down standard while stating that affordability “remains a significant challenge”.
In October 2023 US regulatory comments, the company opposed higher proposed US Corporate Average Fuel Economy (CAFE) standards for cars and light trucks, questioning their legality, and pushed to maintain numerous flexibilities that weaken the rule's stringency.
Positioning on Energy Transition: Toyota in 2022-24 has consistently advocated for a longer-term role for ICE-powered hybrids over battery electric vehicles (BEVs) globally. In Japan, a November 2022 JAMA blog reported that former Toyota President, Akio Toyoda, met Japan's Prime Minister Kishida in June 2022 to advocate against introducing climate regulations, and persuaded Kishida to withhold support for ZEV targets at the subsequent G7 summit. A June 2022 Reuters article stated that Toyoda had successfully pressured Japan’s government to promote ICE-powered hybrids over BEVs in Japan's annual economic policy roadmap.
Toyota has consistently opposed ICE phase-out and zero-emission vehicle (ZEV) mandates globally in 2022-24. In a March 2023 consultation response, the company opposed a Canadian ZEV mandate, noting that generally "Toyota does not support the notion of ZEV mandates." In a May 2023 UK consultation response found via FOI request, Toyota advocated to effectively delay the UK’s ZEV mandate by pushing for 2024 to be a monitoring year only and pushed for a weaker mandate trajectory for cars. Following the UK government delaying its initial ICE phase-out from 2030 to 2035, Autocar reported a Toyota statement that welcomed weakening the policy in September 2023. The Times in April 2022 also reported that Toyota had urged the UK's Transport Secretary to weaken its "green" policies mandating a rapid switch to BEVs. In a June 2023 consultation response Toyota appeared to push to weaken Mexico’s 50% ZEV 2030 sales target by including ICE-powered hybrid vehicle sales. In the US, a May 2022 Toyota California regulatory comment appeared to oppose the Advanced Clean Cars II rule, which includes a ZEV mandate. A May 2022 Toyota regulatory comment also opposed a US federal heavy-duty ZEV mandate, while October 2022 California regulatory comments appeared unsupportive of the Advanced Clean Fleets rule that included a 100% 2040 medium and heavy-duty ZEV mandate. More positively, In June 2022, a joint letter signed by Toyota supported a US electric vehicle tax credit.
Regarding electrification, in a January 2024 speech, chairman Akio Toyoda said that he believed battery electric vehicles would reach at most a 30% market share, appearing to push for a longer-term role for ICE-powered vehicles. In January 2024, Nikkei reported another Toyoda speech arguing that ICE-powered engines remain a “practical means of achieving carbon neutrality.” Similar speeches from Toyota's chief scientist in January 2023 reported by Automotive News, and Bloomberg in May 2023, and a Toyota July 2023 US comment, advocated for a longer-term role for ICE-powered hybrids over BEVs. A March 2024 New York Times article reported that “Toyota’s top lobbyist” in the US delivered a speech stating that “Toyota and our dealer partners have stood alone in the fight against unrealistic BEV mandates”, with US Toyota dealerships reportedly used to garner support for a January 2024 letter to US President Biden urging the administration to “tap the brakes” on its electric vehicle push.
Industry Association Governance: Toyota has mixed transparency over its indirect influence through industry associations. In January 2024, Toyota published its third industry association review and did not identify any cases of material misalignment with industry associations. Toyota retains high-level positions in several regressive groups. These include Japan Automobile Manufacturers Association (JAMA), where Toyota President is Vice Chair, Keidanren, where a Toyota executive is a Board Vice Chair, the European Automobile Manufacturers Association (ACEA), where a Toyota executive is a board member, and the Australian Federal Chamber of Automotive Industries (FCAI) where a Toyota executive is Deputy Chair. Toyota is also a member of US-based Alliance for Automotive Innovation, and India-based Society of Indian Automobile Manufacturers (SIAM).
A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q1 2024.