For European Environmental Projects Volkswagen AG Donates 10 million Euros

In the agreement between the EIB and Volkswagen AG made in December 2018, the latter had volunteered to spend a total sum of 10 million Euros on the environmental and sustainability projects as a part of its commitment to sustainability.

Volkswagen AG is making a donation of 10 million Euros for the European sustainability projects. Volkswagen AG is making this donation under an agreement that it entered into with the European Investment Bank (EIB). The key factor behind this project is the future of sustainable mobility.

The donation is being made under an agreement between Volkswagen AG and the EIB as a result of the commitments made in connection with the diesel crisis. In 2009, the EIB had given the Volkswagen Group a loan that had been repaid in full amount in February 2014. Apart from other things, the loan also had the funds for the production of diesel engines. In the agreement between the EIB and Volkswagen AG made in December 2018, the latter had volunteered to spend a total sum of 10 million Euros on the environmental and sustainability projects as a part of its commitment to sustainability. The projects were given a green light after the consultation with the EIB.

Ralf Pfitzner, the Head of Sustainability at Volkswagen AG, commented on this by saying that the brand is specifically focusing on those projects that take care of the environmental stewardship and promotes a spirit of research and entrepreneurship for the protection of the climate. He further said that the company is aiming for practical results and wants to promote biodiversity, as well as, carbon sinks to protect the natural resources of the planet. He said that they want to make more space for ideas that comes with great potential for helping the industry to move forward towards a carbon-free economy.