In a political climate that is threatening to strip away current regulations that protect our environment, we must be vigilant as we strive to take better care of our world.
In 2015 the news that VW had installed emissions-cheating software in millions of cars, allowing them to dupe emissions tests, was a sign that big businesses are not necessarily on board with protecting the earth over their bottom line.
Hit hard, the fines from the scandal have resulted in a cash drain in the “double-digit billion euro range,” VW Chief Finance Officer Frank Witter estimated.
The company faces payouts of $24.7 billion in fines, buybacks and repairs. In a statement in earlier this year VW said the settlement “avoids further prolonged and costly litigation as Volkswagen continues to work to earn back the trust of its customers, regulators and the public.”
It’s time that businesses step up to the plate and be leaders in the world of sustainability. Hopefully the lesson has been made clear — cheaters do not win. It’s time to make smarter choices about the ways we use our energy while we work to integrate products into the market that will support user needs while becoming more earth friendly.
Let’s hope that Volkswagen’s mistake can be a lesson to other companies—large and small—that choosing to do the right thing is better than only focusing on protecting the bottom line.