Volkswagen sheds ‘red flag’ rating from index provider MSCI after Xinjiang site audit

BERLIN (Reuters) – Global index provider MSCI removed a ‘red flag’ rating indicating involvement in very severe environmental, social and governance controversies from Volkswagen stock and replaced it with an ‘orange flag’, MSCI said on Thursday.

The index provider made the move after reviewing the public findings of an audit by management consultancy Loening GmbH of Volkswagen’s jointly-owned site in Xinjiang, China, which found no evidence of forced labour at the site.

(Reporting by Victoria Waldersee, Editing by Rachel More)