The Responsible Investment Committee of Nordea Asset Management decided on 23 September to stop all further investments in Volkswagen AG in Nordea’s funds.
The VW stock and bonds are put in quarantine, which means that Nordea’s portfolio managers may hold and sell the stock and bonds, but not increase the exposure to VW.
- We have decided to stop any further investments given the unforeseen financial impact on the company and the possible severe violation of environmental regulations, says Sasja Beslik, Head of Responsible Investments at Nordea.
The Responsible Investment team has initiated a dialogue with Volkswagen AG to address the diesel-emissions scandal and investigate what actions the company will take going forward.
Read more about how Nordea works with responsible investments.
Read more news
Digital banking The Digital Hub
Erik Zingmark about the future financial ecosystem.
Together, the startup Spiff and Nordea Liv will turn the savings market upside down with a new social savings app
Responsibility Reports and data
Nordea charts a new course of action in its 2016 Sustainability Report