We understand that the SDGs are deeply interrelated and therefore adopt a holistic approach to them without making compromises. We are aware that we bear a special responsibility, especially with regards to potential challenging issues. We strategically set the path to broaden our positive impact on the SDGs. With this, we also consciously include SDGs that are less obvious to our industry. We want to find solutions that make the world a brighter place and spur innovation.
SDGs as part of our company policy
We have six essential principles that guide how we think and act (our six company policies). These six policies form the basis of living up to our company vision and mission and all further internal guidelines are derived from them. In our Sustainability Policy we commit ourselves “to finding ways of contributing towards reaching the SDGs”, thereby forming the base of “SDG application” in our management system.
SDGs as part of our non-financial goals and driver for innovation
Our five ambitious non-financial goals are derived from the SDGs and have a positive impact on all 17 to differing degrees. With our innovation-related goal we are pushing boundaries by directly targeting the SDGs with our research and development projects. We have set ourselves the following goal: “Our project portfolio is aligned with the United Nations Sustainable Development Goals.” By 2025, 80% of our Research & Development project spending will be targeted in areas that specifically contribute to achieving the SDGs, either in partnerships with or endorsed by recognized institutions.
Covestro’s current contribution to the SDGs and our commitment
Covestro contributes to all 17 SDGs to differing degrees and in different areas. Most of our current positive contributions to achieving the SDGs relate to our core products, which, among other aspects, help to save large amounts of energy in their use phase, allow technical upgrading or are used in medical applications. These SDGs are also supported by our current R&D projects.
Through our HSEQ, HR, Product Safety and Compliance standards, our energy efficiency programs, water risk and waste management activities, innovation and ongoing technological upgrading in our production facilities we are also contributing to the SDGs in our direct area of influence. Furthermore, we consider our responsible supplier management and collaboration with value chain partners to leverage sustainable development as a contribution to SDGs. Our contributions to the SDGs that have a social focus primarily lay in our business ethics, social engagement and Inclusive Business activities.
We are convinced that we can only be successful by working in partnership with others. Many of our activities are therefore conducted through partnerships or consortia.