Climate Change Data

Volkswagen Financial Services AG

Climate Impact & Sustainability Data (2022, 2024)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Sustainability
  • Diversity
  • Compliance

Social Achievements

  • Ranked number one in the relevant category by company size in both the “Best Employer in Lower Saxony-Bremen 2021” and “Best Employer in Germany 2021” competitions. In a comparison within Europe, the Company was in 20th place in a ranking of the top 25 European employers.
  • Women accounted for 46.9% of the workforce of Volkswagen Financial Services AG in Germany and 50.2% internationally as of December 31, 2022.

Governance Achievements

  • The Supervisory Board has set targets for the proportion of women to be achieved by the end of 2026: 25.0% for the Supervisory Board and 20.0% for the Board of Management.

Climate Goals & Targets

Long-term Goals:
  • Achieve 25.0% women on the Supervisory Board and 20.0% on the Board of Management by the end of 2026
Medium-term Goals:
  • Achieve target figures for the proportion of women in management positions in Germany by 2025
Short-term Goals:
  • Increase the proportion of women in management positions

Environmental Challenges

  • Shortages and disruption in global supply chains
  • The Russia-Ukraine conflict
  • The Covid-19 pandemic
  • Rising inflation rates
  • Higher funding costs
  • Semiconductor shortage
  • Credit risk situation affected by semiconductor shortage
Mitigation Strategies
  • Closely monitoring changes in residual value risk and taking corresponding measures where required
  • Implementing the Operational Excellence (OPEX) intercompany efficiency program
  • Broad diversification of funding sources
  • Using derivatives for currency-matched funding and hedging
  • Systematic credit risk monitoring to identify potential borrower or lessee insolvencies at an early stage
  • Using rating and scoring systems for credit checks
  • Managing commitments according to the degree of risk involved
  • Implementing the Together4Integrity (T4I) Group-wide integrity and compliance program

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

  • VW FS | Auto Abo car subscription

Awards & Recognition

  • Best Employer in Lower Saxony-Bremen 2021
  • Best Employer in Germany 2021
  • Special equal opportunities and diversity award

Reporting Period: 2024

Environmental Metrics

ESG Focus Areas

  • Clean Transportation

Climate Goals & Targets

Long-term Goals:
  • achieve CO2 neutrality by 2030
Medium-term Goals:
  • Improve the % of BEV leasing or financing contracts to 80% of the European portfolio by 2030
  • reduce 50% of CO2 emissions within the operational and Information technology department, and achieve CO2 neutrality by 2030

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD, GRI, UN Global Compact, SASB, CDP

Certifications: ISO 27001