Volkswagen Financial Services
Volkswagen Financial Services AG, commonly referred to as VWFS, is a leading provider of automotive financial solutions headquartered in Denmark. Established in 1949, the company has evolved to serve major operational regions across Europe, Asia, and the Americas, solidifying its position within the automotive finance industry. VWFS offers a comprehensive range of services, including vehicle financing, leasing, and insurance solutions tailored to meet the diverse needs of customers and dealers alike. What sets VWFS apart is its commitment to innovative digital solutions and customer-centric services, enhancing the overall ownership experience. With a strong market presence, VWFS has achieved notable milestones, including significant partnerships and a robust portfolio of financial products. As a trusted name in automotive finance, Volkswagen Financial Services continues to drive growth and innovation in the industry.
DitchCarbon Score
How does Volkswagen Financial Services's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Volkswagen Financial Services's score of 44 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Volkswagen Financial Services's reported carbon emissions
In 2023, Volkswagen Financial Services (VWFS) reported total carbon emissions of approximately 308,470 kg CO2e for Scope 1, which includes emissions from mobile combustion (about 242,985,000 kg CO2e), process emissions (423 kg CO2e), and stationary combustion (about 111,078,000 kg CO2e). The Scope 2 emissions totalled approximately 127,347,000 kg CO2e, primarily from purchased electricity (about 16,269,000 kg CO2e). Additionally, Scope 3 emissions were reported at approximately 6,334,000 kg CO2e, all attributed to business travel. In comparison, the 2022 emissions data indicated a total of approximately 261,912 kg CO2e for Scope 1 and about 43,090 kg CO2e for Scope 2, with no reported Scope 3 emissions. This reflects a significant increase in emissions in 2023, particularly in Scope 1 and Scope 2 categories. Despite the increase in emissions, VWFS has not disclosed specific reduction targets or initiatives aimed at mitigating their carbon footprint. The absence of documented reduction targets suggests a need for enhanced climate commitments within the organisation. As the automotive finance sector increasingly prioritises sustainability, VWFS's future strategies will be crucial in aligning with industry standards and expectations for climate action.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 261,912 | 000,000 |
| Scope 2 | 43,090 | 000,000,000 |
| Scope 3 | - | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Volkswagen Financial Services is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
