CDP Awards Covestro for Transparency on Climate Protection Measures
Covestro has again been awarded an A- rating in this year’s climate protection ranking by the Climate Disclosure Project (CDP). Covestro received the highest possible grade A in four out of categories: “Business Strategy Financial Planning & Scenario Analysis,” “Scope 1 & 2 emissions (incl. Verification), “Governance,” and “Opportunity Disclosure.” Covestro's overall score makes it one of 24% of companies in the chemical industry peer group that received such a rating, and rates it higher than the average for this group, which is B-.
"We were able to maintain our A- rating in our second participation. A great result that we are proud of," said Markus Steilemann, Ph.D., CEO of Covestro. "The rating shows us that we are on the right track in driving climate protection forward, and that it is important to report transparently on our progress. Our ambitious climate targets underpin our claim. One thing, however, must be clear: climate protection must be viewed in terms of society as a whole. Only if we all contribute, we can achieve the Paris climate goals in the long term."
CDP’s assessment is based on a scale from A to D-. The highest grade is awarded to companies that demonstrate a high degree of transparency in connection with actual climate protection performance. The CDP ranking is considered one of the world’s most renowned for environmental reporting and environmental management by companies. A total of almost 15,000 companies took part in this year’s rating.
“Sustainability is not a nice add-on but a business crucial strategy. The interest in sustainability and how to become fully circular is high, not only amongst investors, but also among many other stakeholder groups, such as employees, customers and policy-makers,” said Lynette Chung, chief sustainability officer of Covestro. “Ratings provide guidance and assessment here. With our climate targets, we show that we are a pioneer in our industry. Our efforts in these areas have already been positively recognized in the CDP ranking and confirm our ambitions.”
For more information, visit: www.covestro.com.
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