Volkswagen was among companies warned in February they could risk fines for failing to meet stringent emissions targets
In February, CDP published a report for investors looking at the auto manufacturing sector and the potential impact of increasing legislation and the shift towards hybrid and electric vehicles. We highlighted that several companies (including Volkswagen) could be at risk from fines for failing to meet stringent emissions targets for their vehicle fleets.
We estimated some of these fines at potentially a billion dollars or more and, while investors accepted the findings of the research, there was some scepticism as to whether anyone would ever get fined that sort of money by the authorities. All that has changed this week with the announcement of the US EPA’s discovery that VW was dishonestly underestimating emissions from its vehicles.
Source: Guardian Environment