Denmark’s AkademikerPension has said it is “concerned” about a report on car manufacturers’ plans for electric vehicle production.

According to the report by InfluenceMap found that only two of the world’s leading car manufacturers plan to produce enough electric vehicles by 2030, which is needed to keep pace with the Paris Agreement’s climate goal of limiting global warming to 1.5 degrees.

At the same time, 11 of the 12 car manufacturers – while publicly supporting the Paris Agreement – have actively opposed the government's policies to speed up the shift to electric vehicles, especially from internal combustion engines.
AkademikerPension has investments in VW and Toyota, among others, and it believes the announcement from Influence Map is bad news.

"As investors, we are concerned about the picture that is emerging, which confirms that some companies in the automotive industry are placing themselves on the wrong side of history when they actively oppose much-needed climate change-related rules and regulations,” AkademikerPension chief investment officer, Anders Schelde, said.

“We are also concerned that Toyota is scoring the worst among peers on climate lobbying as the company jeopardises its valuable brand,” he said.

European Pensions has contacted Toyota for a response.

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