Pension funds consider legal moves against VW

Volkswagen may face legal action from ethical investors that accuse the company of lobbying against tighter climate change regulation.

According to a report in the Financial Times, five Swedish and Danish public pension funds and the Church of England Pensions Board are concerned that while VW was ‘publicly championing the green transition’, it may be lobbying against stricter climate rules.

Swedish government pension fund AP7 is one of the finds considering action. It recently set out a transition mandate which includes a promise to engage with those emitting large amounts of carbon to try to speed up carbon emissions.