Top 10 International Events: No. 05 The Volkswagen Scandal Incurs Trust Crisis

Since 2006, China WTO Tribune has set up annual columns of the top 10 CSR events in the past year of both China and the world. China WTO Tribune presents you the Top 10 International CSR Events in 2015. 

No. 05 The Volkswagen Scandal Incurs Trust Crisis
On Sep. 18, EPA accused Volkswagen of programing turbocharged direct injection (TDI) diesel engines to activate certain emissions controls only during laboratory emissions testing. On Sep. 22, Volkswagen issued an announcement and admitted the accusation. Later the CEO declared to resigned from his post, and stock price fell in value by a third immediately after the news, which struck heavily on both the development of Volkswagen and the reputation of "Made in Germany", and dragged "Made in Germany" into global trust crisis.
Reasons for Selection:
Immersed in the economic benefits, Volkswagen ignores business rules and laws and engages in the long-term fraud, which leads people to think and reveals the importance and urgency to embed enterprises’ social responsibility concepts into enterprise strategies. It requires enterprises to review the influence of their operation on society to weaken the impact from irresponsible behaviors.