Commitment to ten principles for responsible businesses
Covestro has been recognized as a LEAD company of the United NationsGlobal Compact, a global movement of responsible and sustainable corporategovernance. The material producer was honored for its high engagement in theinitiative during the UN Global Compact Leaders’ Summit 2018 at UNHeadquarters in New York. The move reflects Covestro’s ongoing commitmentto the United Nations Global Compact and its ten principles for responsiblebusiness as well as the company’s efforts of fulfilling its vision to make the worlda brighter place.
Lise Kingo, CEO and Executive Director of the UN Global Compact, said,“LEAD companies represent the highest level of engagement with the UNGlobal Compact. Achieving the Sustainable Development Goals and creatingthe world we want will not happen without bold action from the responsiblebusiness community. We need companies of all sizess – like the onesrecognized today – to improve their performance, no matter where they are ontheir sustainability journey.”
Impact of high performance materials
“We feel very honored to be recognized as one of the LEAD companies,” saidDr. Markus Steilemann, CEO of Covestro. “By actively engaging in the variousplatforms of the UN Global Compact, we aim to contribute to positive change inareas where we as a world leading producer of high performance materials canhave the biggest impact.”
To be eligible for LEAD recognition, companies must be a participant in at leasttwo Action Platforms, to demonstrate their commitment to defining and fosteringleadership practices in line with the ten principles and Global Goals. Thecompanies must also submit or commit to submitting an annual sustainabilityreport detailing progress on implementing the ten principles, within the samecalendar year.
Covestro has demonstrated its commitment to the UN Global Compact this yearby participating in the following Action Platforms: Sustainable Ocean Business,Reporting on the SDG’s, Breakthrough Innovation, Business for HumanitarianAction.
Since joining the UN Global Compact in 2015, Covestro has been proud to be partof a global movement of sustainable companies and stakeholders. By integratinga principles-based approach to sustainability, Covestro is taking sharedresponsibility for achieving a better world.
About the United Nations Global Compact:
The United Nations Global Compact is a call to companies everywhere to aligntheir operations and strategies with ten universally accepted principles in theareas of human rights, labour, environment and anti-corruption, and to takeaction in support of UN goals and issues embodied in the SustainableDevelopment Goals. The UN Global Compact is a leadership platform for thedevelopment, implementation and disclosure of responsible corporate practices.Launched in 2000, it is the largest corporate sustainability initiative in the world,with more than 9,000 companies and 3,000 non-business signatories based inover 160 countries, and nearly 70 Local Networks.
For more information, follow @globalcompact and visit www.unglobalcompact.org.
With 2017 sales of EUR 14.1 billion, Covestro is among the world’s largestpolymer companies. Business activities are focused on the manufacture of hightechpolymer materials and the development of innovative solutions for productsused in many areas of daily life. The main segments served are the automotive,construction, wood processing and furniture, and electrical and electronicsindustries. Other sectors include sports and leisure, cosmetics, health and thechemical industry itself. Covestro has 30 production sites worldwide andemploys approximately 16,200 people (calculated as full-time equivalents) at theend of 2017.
Find more information at www.covestro.com.
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This news release may contain forward-looking statements based on current assumptions and forecastsmade by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead tomaterial differences between the actual future results, financial situation, development or performance ofthe company and the estimates given here. These factors include those discussed in Covestro’s publicreports which are available at www.covestro.com. The company assumes no liability whatsoever toupdate these forward-looking statements or to conform them to future events or developments.