VW refuses shareholder disclosure of climate lobbying

The leadership of the German automobile concern Volkswagen has rejected the demand of shareholders to explain how the company's lobbying activities are consistent with its climate goals. It is reported by Reuters.

A group of seven shareholders sent a message saying that while Volkswagen discloses trade association memberships, the company should take the next step and communicate how the associations' goals are consistent with VW's emissions reduction goals.

“The board is failing to provide transparent oversight of the company’s climate lobbying,” said Charlotte Sidstrand, a sustainability strategist at Swedish company AP7, who helped draft the appeal.

According to representatives of Volkswagen, the proposal was rejected because "the issue was considered beyond the competence of the general meeting."

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