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Investment Funds Want Carmakers to Detail Emission Lobbying
Nineteen large investment and pension funds have asked 11 carmakers to describe their lobbying efforts regarding emission standards, Reuters reports.
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Nineteen large investment and pension funds have asked 11 carmakers to describe their lobbying efforts regarding emission standards, Reuters reports.
Members of the group, which controls about €870 million ($1 trillion), send separate letters to BMW, Daimler, Fiat, Ford, General Motors, Honda, Nissan/Renault, Peugeot, Toyota and Volkswagen asking for details about their efforts to steer discussions about tougher emission rules in the U.S. and Europe.
The investors are requesting more transparency in the wake of the VW diesel emission test cheating scandal. VW’s disclosure that it equipped 11 million diesels with software that could manipulate emission tests wiped out about one-third of the company’s market value in less than two weeks.
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