STOCKHOLM - The biggest bank in the Nordic region, Nordea, said Thursday it was barring its traders from buying Volkswagen shares and bonds for six months over the German manufacturer’s emissions scandal.
“We are sending a clear message that this is unacceptable,” Sasja Beslik, head of responsible investments at Stockholm-based Nordea, told AFP.
“We believe this action, or lack of action, from the management is outrageous. It’s poor judgment in terms of business, but it’s also very costly from a financial point of view,” he said.
Volkswagen, the world’s biggest carmaker by sales, admitted on Tuesday that as many as 11 million of its diesel cars worldwide are equipped with software capable of fooling official pollution tests.