Storebrand Asset Management has excluded Toyota Motor Corporation from its investment universe due to the company's longstanding lobbying against climate regulations and lack of transparency on climate-related issues.

The decision comes after a four-year engagement during which Storebrand AM attempted to influence Toyota, including submitting a shareholder proposal in 2023.

The exclusion took effect at the end of the second quarter of 2025, resulting in Storebrand AM selling Toyota shares valued at NOK 850 million as of May 31.