Volkswagen Financial Services AG in top ten of the Sustainalytics global ESG rating
First external audit to assess sustainability risks
Analysis in the categories of Product Governance, Data Privacy and Data Security, Business Ethics, Human Capital and Corporate Governance
VW FS AG ranks among the top 3 percent of all audited companies in the industry
Braunschweig, 10 May 2023. Volkswagen Financial Services AG has performed excellently the first time it was evaluated for sustainability risks by Sustainalytics, one of the leading independent ESG research and analysis firms. According to the institute, VWFS AG is one of the top three percent of all more than 200 companies audited. The analysis was carried out in the categories of Product Governance, Data Privacy and Data Security, Business Ethics, Human Capital and Corporate Governance and serves to make the sustainability performance of the Braunschweig-based company transparent.
Not least as a result of the climate change, banks and financial services institutions are being called upon to take greater account of ESG risks in their business and risk models. Consequently, ESG performance and its assessment by external parties make a significant contribution to the investment capability, market capitalization and cost-of-capital optimization of companies.
Frank Fiedler, CFO of Volkswagen Financial Services AG, is proud of the first-time audit: "We have achieved an excellent result in this Risk Rating Report at the first go. With the insights gained, we can now identify the interests and requirements of our investors and customers even more precisely and implement them in our company."
The rating scale used by Sustainalytics ranges from 0 to 40+ and indicates negligible or low risk in the range of 0 to 20, medium and high risk between 20 and 40, and severe risk with a score above 40. The score of 12.4 achieved by Volkswagen Financial Services AG puts it in the top three percent of all companies in the industry rated worldwide in this sector. A total of over 200 banks and financial services institutions were assessed by Sustainalytics.
Information for editors
Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 17,713 employees worldwide – including 7,692 alone in Germany. Volkswagen Financial Services report total assets of around EUR 240 billion, an operating profit of EUR 5.60 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2022).
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