Great Place to Work

Volkswagen Financial Services Subgroup: Modern Slavery and Human Trafficking Statement

This statement was issued according to §54 the United Kingdom Modern Slavery Act 2015.

Organisation

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise as at 31.12.2016 Volkswagen Financial Services AG along with its associated companies and the financial services companies in the USA, Canada, and Spain that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania and Porsche brands and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 15,324 employees worldwide – including 6,503 alone in Germany. Volkswagen Financial Services report total assets for of around EUR 170.1 billion, an operating result of EUR 2.1 billion euros and a portfolio of around 18.2 million current contracts (as at: 31.12.2016).

The Volkswagen Group's Code of Conduct

The Volkswagen Group's Code of Conduct acts as a guide to our employees, outlining the fundamental principles of proper conduct and supporting them in overcoming legal and ethical challenges. Compliance with internationally recognised human rights is a part of this. In accordance with this, we align our business dealings with the principles of the UN Global Compact, the OECD guidelines for multinational corporations and with the standards of the International Labour Organisation (ILO).

Volkswagen Group's whistleblowing policy

Our employees, business partners and other third parties are provided with internal contact points as well as external ombudspersons in order to be able to report on legal and regulatory violations in connection with the Volkswagen Group ("whistleblowing system" of the Volkswagen Group). This is also where suspicions of human rights violations can be reported. These reports are handled according to the predetermined code of conduct, in order to ensure the best possible protection of the whistleblower, as well as the persons concerned.

Employee training

We promote compliance with the regulations in our organisation by taking preventative measures and making sure our employees' knowledge is up to date. Information and training of our employees on every hierarchical level therefore plays a central role in achieving compliance. Newly recruited employees of Volkswagen Financial Services AG are required to participate in an online training programme on the group's code of conduct, which also incorporates human rights issues. Employees are provided with further sources of information about the code of conduct and a consulting service (online and in print form).

Volkswagen Financial Services suppliers

Volkswagen Financial Services does not act as a manufacturer or producer of material goods and has no supply chains in this regard.

Volkswagen Financial Services implements general due diligence through central procurement. Before entering into a business relationship, we examine the potential risks and integrity of our business partners (Business Partner Check).

The 'Volkswagen Group's requirements for sustainability in its relations with business partners' (Code of conduct for business partners) are the basis of the concept 'sustainability in supplier relations'. They formulate the expectations of Volkswagen Financial Services towards the conduct of business partners in relation to central environmental, social and compliance standards. Internationally recognised human rights are also important in this regard. Through the contractual integration of the sustainability requirements in the procurement process, we want to ensure that our sustainability standards are adhered to worldwide, throughout the entire supply chain. The bases for these requirements are the principles of the UN Global Compact, the charter of the International Chamber of Commerce for viable long-term development, as well as the conventions of the International Labour Organisation. Before submitting a quotation, our suppliers have to confirm they are aware of our sustainability requirements.

 

Lars Henner Santelmann

Chairman of the Board of Management of 

Volkswagen Financial Services AG

June 2017