Group Management Report

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ESG ratings

Analysts and investors are referring increasingly to companies’ sustainability profiles when making their recommendations and decisions. They draw on ESG ratings, among other things, to evaluate a company’s environmental, social and governance performance. At the same time, these ratings are instrumental in determining whether we are meeting our goal in relation to the Group’s NEW AUTO strategy, and they are used to establish internal measures.

After the diesel issue became public knowledge, the Volkswagen Group was downgraded significantly in numerous ESG ratings. With the successful completion of the Monitorship and reinstatement of the Group in the UN Global Compact, an improvement in ESG performance was achieved. Compared with the previous year, our score in the Sustainalytics ESG rating improved from 29.6 to 26.1 in 2022. Our MSCI score remained at B and the ISS score continued to be C. Volkswagen is also listed in the Dow Jones Sustainability Index Europe. In addition, Volkswagen maintained its score of A– in the CDP climate rating in fiscal year 2022 and its rating of A in the Water Disclosure Project (WDP).

Systematic assessment of companies in terms of their credit quality. Ratings are expressed by means of rating classes, which are defined differently by the individual rating agencies.