The Church of England Pensions Board, together with Swedish public pension funds AP7, AP2, AP3, AP4 and Danish AkademikerPension, has filed a case against Volkswagen AG, after it refused repeated attempts to reveal crucial information on its corporate climate lobbying activities.
This is the first time investors have started European litigation on a climate-related matter. The case was filed this week.
The case will test whether VW has the right to refuse to include an item on the company AGM agenda proposed by VW’s shareholders at the 2023 AGM having previously refused investors shareholder resolutions. The group of investors are represented by German law firm Hausfeld Rechtsanwälte LLP and supported by legal charity ClientEarth.
Pension funds bring legal action against VW over climate change lobbying activities
German carmaker Volkswagen is facing legal action by a coalition of five Swedish and Danish public pension funds and the Church of England Pensions…https://t.co/br98MdLCqE https://t.co/QLb35mqNTw— MountainJadey🕷🇬🇧🇪🇺🇺🇦🌱⚖️ (@jadey_murray) October 20, 2022