Dekabank headquarters
Dekabank is the securities house of the savings banks, together with its subsidiaries it forms the Deka Group.
(Photo: imago images / Ralph Peters)
After critical reports about the human rights situation in the Chinese Uyghur region of Xinjiang, investors are withdrawing from Volkswagen. According to a media report, the fund company Deka Investment has thrown out all VW shares from its investment products with a focus on sustainability after a critical assessment by the US rating agency MSCI.
“From our point of view, Volkswagen can no longer be invested in when it comes to sustainable financial products,” quoted the “Wirtschafts-Woche” as Deka sustainability boss Ingo Speich. MSCI said in a November 4 report that there were “allegations of forced labor in Volkswagen’s operations.” MSCI confirmed the report.
A Deka spokesman made it clear on Thursday that VW shares had already been removed from the sustainability fund before the Porsche IPO at the end of September. The reason is governance concerns about the dual role of CEO Oliver Blume, who is also the head of Porsche AG. The MSCI report reinforced this assessment.
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