The new Covestro goals for 2025 bring our sustainability agenda in line with our corporate values. The programme sets out five key ambitions that define our real and transparent progress.
1. An R&D project aligned with UN goals
By 2025, we want 80% of our investment in R&D projects to be earmarked for areas that contribute to the UN Sustainable Development Goals, either through associations or by supporting prestigious institutions.
2. Committed suppliers
A product can only be sustainable if the sum of its parts is sustainable as well, which is why it is essential that our suppliers adhere to our standards.
All suppliers with annual recurring expenditures of over €100,000 (97% of our total purchasing volume) must comply with our sustainability requirements. The rest must comply with our Code of Conduct:
- Act ethically and with integrity.
- Protect the human rights of workers and be respectful of the company.
- Ensure health and safety in the workplace and protect the environment.
- Implement management systems that support compliance with applicable laws and generate continuous improvements.
3. Reduction of greenhouse gas emissions
We are going to halve our greenhouse gas emissions generated per metric tonne of product produced, compared to 2005 levels.
4. Products that benefit people in under-served markets
We will help improve the living conditions of 10 million people in under-served markets in emerging and developing countries. To do so, we will work with governmental and non-governmental organisations. We develop solutions that can reach these markets through our technology and products, and improve the social and economic situation of these people. We will focus our actions on sectors where our materials can offer a real advantage: sanitation, food safety and affordable housing.
5. Getting the most out of carbon
Carbon is essential to our products and we work with prestigious institutions and non-profit organisations to get more out of the carbon we use, across the value chain.
For instance, we use carbon to produce polyurethane foam insulation, which saves up to 70 times more energy and reduces emissions over the life cycle of the product.
We want to continue working with partners and individuals who share our sustainability philosophy to develop a meaningful metric that is universally accepted. This would allow us to set a quantitative goal for 2025.