It is the conviction of Volkswagen Financial Services, the global financial services provider in the Volkswagen Group, that its business model can continue to be successful moving ahead only if we act responsibly in the long term.
Volkswagen Financial Services believes that taking responsibility means gearing its decisions to the needs of society as well as its customers, employees and owner.
Volkswagen Financial Services offers a one-stop shop for automotive financial services and develops offerings for tomorrow’s mobility needs.
Volkswagen Financial Services operates internationally, yet has deep local roots. Sustainable, responsible business is vital. Volkswagen Financial Services acts reliably and with the environment in mind, is an attractive employer, and is committed to creating a society that has a sustainable future. It goes without saying that compliance with the law and the company’s values forms the basis of its commercial activities. Volkswagen Financial Services is committed to its obligation to give something back to society.
The three highlight projects 2019
Volkswagen Financial Services encourages civic commitment by its employees.
Community engagement is a key component of Volkswagen Financial Services’ corporate responsibility strategy. Social success has been, is and will continue to be driven by qualified and dedicated people who go that extra mile in their private life and are guided by clear values.
Volkswagen Financial Services supports innovative and original projects relating to the Braunschweig region with a one-off maximum amount of €5,000. Requirement: The employee must be personally involved in the project so that the funding can be awarded.
As part of their civic engagement, our employees supported, among other things, the circus project of the booster club at the KTK & Kita Veltenhof e.V. primary school, the Kinderkrebsfürsorge association in Gifhorn, which helps children with cancer and their families, Semmenstedt Volunteer Fire Brigade and Flüchtlingshilfe Papenteich e.V., which helps refugees.
Cooperation between Volkswagen Financial Services and the German Nature and Biodiversity Conservation Union (NABU)
Volkswagen Financial Services and the German Nature and Biodiversity Conservation Union (NABU) have been working together since 2009 to protect moors and restore them to their natural state. That is because moors are exceptionally important for climate protection and biodiversity.
From 2012 to 2020, Volkswagen Financial Services will invest a total of four million euros in the German and International Moor Conservation Fund established by NABU. In Germany, the money is currently being spent on 13 national project areas. In the international arena, the company supports the European Union's LIFE Peat Restore Project, as a result of which an additional four million euros in public funding has been obtained due to the fact that the basic financing for the project has been secured.
It is an international EU project the NABU is implementing together with its cooperation partners from Poland, Lithuania, Latvia and Estonia. Its objective is to renew degraded peatlands and restore their natural function as carbon sinks in the five partner countries.
The joint commitment of Volkswagen Financial Services and NABU has already received several accolades from independent bodies.
The Art Mobile provided by Volkswagen Financial Services takes pupils from the Braunschweig region to Wolfsburg Museum of Art free of charge. The successful cooperation between Volkswagen Financial Services and the Museum of Art dates back to 2002. The bus has technical equipment that lets pupils watch a film on the Museum of Art during the journey so that they are playfully prepared for their visit.
The total number of pupils who have visited the Museum of Art in this way from when the project was launched up to 2019 is 80,585.
The project was expanded in 2003: Senior citizens from various institutions, such as residential homes and community centers, have been given the chance to undertake excursions to the Museum of Art and then have a coffee in its restaurant. 8,753 senior citizens have now used the bus shuttle (figure at 2019).
Strong children for a strong future: Foundation – “Our Children in Braunschweig”
The not-for-profit foundation “Unsere Kinder in Braunschweig” (“Our Children in Braunschweig”), which was established by Volkswagen Financial Services AG in December 2008, focuses on socially disadvantaged children. Nine institutions – daycare centers, primary schools and secondary schools – are currently supported by offerings suited to their needs in the fields of education and healthy diet, movement training and early music education. Further institutions, such as sports clubs, a family center, the public health department and youth clubs, are supported as part of one-off campaigns.
The foundation funded 19 projects to a total volume of €160,075 in 2019.
Of that, €53,991 went to education, €40,989 to dietary, €27,625 to music and €37,470 to movement projects.
Volkswagen Financial Services is supporting renaturation of the Schunter Meadow near Rühme – in the direct vicinity of the company’s headquarters – with a sum of €340,000. The project was only possible thanks to that support, since the company significantly topped up Braunschweig Council’s own contribution needed to obtain EU funding. The project’s total cost is around €3.3 million. The renaturation work is expected to be completed by the end of 2020.
E-mobility program “Blue Fleet”
Volkswagen Financial Services and the German Nature and Biodiversity Conservation Union (NABU) are cooperating as part of the e-mobility program “Blaue Flotte” (“Blue Fleet”). As a result, key accounts gain access to all the facets of e-mobility – from fleet analysis, vehicle procurement and advice on infrastructure, to numerous tools and product packages to enable successful operation of an e-fleet. As part of that, Volkswagen Financial Services invests in concrete climate protection measures – namely in moor protection projects of the NABU – to reflect the degree to which the vehicles are used during the term of the lease agreement. One of the core projects is the renaturalization of the Sulinger Moor in Lower Saxony.
Wish list Campaign
The Works Council of Volkswagen Financial Services has organized the Christmas wish list campaign for many years. It was again a big success in 2019. Employees of Volkswagen Financial Services took numerous wish lists from the tree and lovingly packaged presents were dropped off at the Works Council office. The Works Council brought the parcels to children and youngsters at the following institutions:
- St. Nikolaus, Braunschweig
- The midwife foundation “Eine Chance für Kinder”, Braunschweig
- The Remenhof Foundation, Braunschweig
- Diakonisches Werk, Wolfsburg
- Christliches Jugenddorf, Wolfsburg
- Diakonisches Werk, Gifhorn
- Elisabethstift, Salzgitter
- AWO Jugend- und Erziehungshilfen, Braunschweig
The workforce donation from Volkswagen Financial Services in 2019 totaled €6,962.24 and was presented to the association “Weggefährten – Elternhilfe zur Unterstützung tumorkranker Kinder Braunschweig“ (“Companions – Aid for parents with children suffering from cancer in Braunschweig”) and the German Nature and Biodiversity Conservation Union (NABU). The donation was divided equally between the two.
Internship to enable recognition of refugees’ vocational IT qualifications
Internship as a bridge to the labor market: Volkswagen Financial Services gives refugees with vocational IT qualifications the chance to obtain supplemental training and upskill so that their prior vocational qualifications are officially recognized. Their opportunities on the labor market are increased by completing such training.
VW FS unites – Global engagement with a local focus
Education empowers girls
Volkswagen Financial Services South Africa paid for renovating and equipping the laboratory at the Lofentse Girls High School in Soweto. It was officially handed over to the school in 2017. Volkswagen Financial Services South Africa embarked on the partnership with the SAME Foundation as part of its corporate responsibility initiative. The focus of this not-for-profit organization is on healthcare as well as education, and aims to give children and youngsters from very poor communities the chance of educational advancement. The organization identified and supported 50 highly effective and sustainable projects in South Africa, including the Lofentse Girls High School. €43,000 in funding was given to the project.
When your muscles stop working: ALS
Amyotrophic lateral sclerosis (ALS) is an incurable, fatal disease that causes the death of motor neurons controlling voluntary muscles, finally resulting in sufferers’ inability to walk, speak, swallow and breathe. The goal of Volkswagen Pon Financial Services/DFM is to help ALS patients lead an independent life for as long as possible. That is why the company supports the “ALSopdeweg” foundation, an organization that helps patients to lead a dignified life. In 2018 and 2019, Volkswagen FS Netherlands sponsored two VW Caddies, which the ALS foundation provides to patients. VWPFS/DFM donates a total of around €50,000 a year to ALSopdeweg.
Region: South America
Help for little patients
Volkswagen Financial Services Brazil has supported the non-profit Little Prince Hospital in Curitiba in the south of Brazil since 2013. The Pediatric Specialty Center not only houses a children’s hospital, but also has a research department and trains skilled medical staff. The organization relies on supporters like Volkswagen Financial Services, since the public healthcare system only covers 60 percent of its costs. Around €117,000 in funding has been given to the project since 2013.
“In short supply and valuable”
Since 2015, Volkswagen Financial Services India has been supporting three villages – Lonar Bhaigaon, Khedgaon and Kauchalwadi – most affected by drought in the Indian state of Maharashtra by building and maintaining dams and water canals. Volkswagen Financial Services India embarked on the partnership with the Watershed Organisation Trust (WOTR) as part of its corporate responsibility initiative. The joint project’s goal is to provide people in the rural region with a sustainable water supply and thereby improve the population’s health and economic situation. Around €87,000 in funding has been given to the project since 2015.
CR Stakeholder Survey
|Parameters of CR Stakeholder Survey|
||Customers (number: 59)
Suppliers/business partners (33)
VW Group/brands (16)
Interest groups (5)
Civil society (4)
Internal (207): country managers, regional managers, workforce
|Ratio of respondents
Feedback from 27 countries
Survey Results – Management Summary
90% of respondents expect car financing companies to act responsibly. The majority of respondents now rate this topic as very important (69% compared with 60% in 2013).
External stakeholders indicated that the most significant challenge of those listed is “Sustainability as a decision-making criterion for customers and investors”. Employees felt that “Digitalization” is the most important challenge.
Overall, 68% (2013: 77%) of the respondents felt that the company’s efforts to act responsibly were credible; about one third of external stakeholders believed these activities were not credible (33% compared with 27% in 2013). In total, 64% of respondents confirmed that their impression of VW FS had been affected by the diesel issue.
General awareness of the company’s efforts to act responsibly has fallen by 9% overall (2013: 81%); among external stakeholders by as much as 20% (2013: 82%). Internal awareness is somewhat higher, although some topics rated surprisingly low on the awareness scale, such as new mobility concepts, business and procurement processes, and others.
“Great Place to Work”
Volkswagen Financial Services evaluates the degree to which it achieves its goal of being a top employer by taking part regularly in external employer competitions. Its goal is to enhance working conditions and derive appropriate measures so as to capture a spot among the top 20 employers in the Great Place to Work ranking not only in Europe, but also worldwide, by 2025.
Employees again gave their thumbs up for the fourth time in 2019 (after 2012, 2014 and 2016): Volkswagen Financial Services is one of Germany’s best employers. In the nationwide survey by the independent institution “Great Place to Work,” randomly selected employees – from the trainee to the Managing Director – anonymously assessed the company.
Moreover, Volkswagen Financial Services was again voted one of the top 25 employers in Europe. Six local companies helped achieve that result: France, Ireland, Norway, Poland, Spain and the UK.
Volkswagen Financial Services also received further awards as an employer. As on many previous occasions, it was yet again chosen by FOCUS as one of Germany’s best companies and was awarded the seal “Top Company” by the employer rating platform kununu.