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Volkswagen: Difference between revisions
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== Social responsibilities == | == Social responsibilities == | ||
December 12, 2023: MSCI removes red flag warning on Volkswagen following Xinjiang audit<ref>https://uk.marketscreener.com/quote/stock/VOLKSWAGEN-AG-436737/news/Reaction-to-review-verdict-MSCI-removes-ESG-warning-from-Volkswagen-45551994/</ref>. | |||
December 6, 2023: An audit of a jointly owned Xinjiang plant commissioned by Volkswagen and conducted by Loening Human Rights & Responsible Business GmbH found no signs of forced labour. Loening pointed out that the challenges in conducting the audit in China were widely known. In November 2022, MSCI Index gave Volkswagen a “red flag” on social issues. Citi analysts believe that the findings could help Volkswagen stock regain a significant portion of its underperformance. “If this audit conclusion satisfies MSCI, and the ‘red flag’ is removed, many EU investors currently not allowed to own any VW shares given ESG metrics, may now buy back at least some exposure,” Citi said in a note. According to Volkswagen, the audit was conducted in line with SA8000 standard, an international human rights system developed by SAI, but Loaning is not listed on SAI’s website as an accredited body that can provide such certifications<ref>https://www.investing.com/news/stock-market-news/volkswagen-audit-of-xinjiang-site-found-no-signs-of-forced-labour-3249944</ref>. | December 6, 2023: An audit of a jointly owned Xinjiang plant commissioned by Volkswagen and conducted by Loening Human Rights & Responsible Business GmbH found no signs of forced labour. Loening pointed out that the challenges in conducting the audit in China were widely known. In November 2022, MSCI Index gave Volkswagen a “red flag” on social issues. Citi analysts believe that the findings could help Volkswagen stock regain a significant portion of its underperformance. “If this audit conclusion satisfies MSCI, and the ‘red flag’ is removed, many EU investors currently not allowed to own any VW shares given ESG metrics, may now buy back at least some exposure,” Citi said in a note. According to Volkswagen, the audit was conducted in line with SA8000 standard, an international human rights system developed by SAI, but Loaning is not listed on SAI’s website as an accredited body that can provide such certifications<ref>https://www.investing.com/news/stock-market-news/volkswagen-audit-of-xinjiang-site-found-no-signs-of-forced-labour-3249944</ref>. | ||
==References== | ==References== | ||
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