Press Release

Braunschweig, 12 September 2019. Volkswagen Financial Services and NABU have launched an e-mobility program for fleet customers under the label "Blue Fleet" ("Blaue Flotte"). The core of this initiative involves an investment in climate-relevant moorland protection projects in proportion to the use of e-vehicles provided by the Volkswagen Group during the leasing period. One key project is the re-naturalization of the Sulinger Moor in the German state of Lower Saxony. In the future the "Blue Fleet" label will bundle all offers in Germany from Volkswagen Financial Services relating to e-mobility. "The upcoming market ramp-up of electric mobility is being driven forward by our fleet customers in particular. Leasing is the most important form of procurement to give them immense confidence in the new technology and to enable short usage cycles. This also benefits the used-car market," says Knut Krösche, Member of the Board of Volkswagen Leasing GmbH. He adds: "We're also delighted with the trusting partnership we continue to enjoy with NABU, which makes us certain that we are investing in projects with the greatest possible climate protection effect."

The goal of the cooperation is to give electric mobility additional momentum. Volkswagen Financial Services are therefore planning to achieve an ideally positive balance of CO2 emissions during the first leasing term of the e-vehicles in their portfolio. Although these vehicles do not emit any CO2 emissions during their operation directly, the charging current that is used must also be taken into account. Because of the electricity mix that exists in Germany, this is not always derived from green electricity. Therefore, in proportion to the extent that vehicles in the company's leasing portfolio are actually used, Volkswagen Financial Services are investing in specific NABU climate protection projects – such as the re-naturalization of the Sulinger Moor in Lower Saxony.

"All companies have to become climate-neutral. We all need a lot more courage to invest in climate protection measures. These measures must be a genuine additional contribution that complements a company's own efforts in the field," says Olaf Tschimpke, NABU President. He goes on to say: "Electromobility is an important element in the transport transformation, which in turn is so important for the conservation of our natural environment and the protection of our climate. That's why we want to support the idea of bringing the greatest possible number of e-vehicles onto the market as quickly as possible through their incorporation in leasing fleets, coupled with the objective of promoting the restoration of natural carbon reservoirs such as moorlands."

The project funding serves the protection and restoration of moorland landscapes that have dried out. Intact moors play an important role in global climate protection as carbon reservoirs. As a result of dehydration and agricultural exploitation, however, they can no longer fulfill this function effectively. Damaged moors emit large quantities of greenhouse gases such as CO2, methane and nitrous oxide, which further heat up the atmosphere. With emissions amounting to more than 45 million metric tons of CO2, the moorland in Germany is currently the second-largest single source after the energy-related emissions.

Volkswagen Financial Services and NABU have been working together since 2008 as part of a close project partnership for moorland protection. They jointly founded the German Moor Conservation Fund in 2011, which has already funded the creation and, in part completion, of 12 moorland protection projects. This was followed in 2015 by the establishment of the International Moor Conservation Fund with its focus on protecting moors in the Baltic States. One of the beacon projects within the Blue Fleet framework is the re-naturalization of the "Sulinger Moor" in Lower Saxony, which was initiated for the launch of the program.

The program is supplemented by supporting service elements such as the Charge&Fuel Card, initial consulting on how to set up one's own charging infrastructure within a company, and the financing of charging wall boxes.

The "Blue Fleet" e-mobility program will start up on 1 January 2020. You can read about it in more detail at blaueflotte.vwfs.de.

Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand 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 16,267 employees worldwide – including 7,010 alone in Germany. Volkswagen Financial Services report total assets of around EUR 207.6 billion, an operating result of EUR 2.6 billion and a portfolio of around 20.3 million current contracts (as at: 31.12.2018).