“Having hit a number of previous green targets well ahead of schedule, Covestro is on course to cut its 2005 emissions in half by 2025. It also has committed to aligning 80 percent of its research and development budget with the U.N. Sustainable Development Goals (SDGs) by 2025, and is already around the 50 percent mark. That target is included in its innovation pipeline, meaning nearly all Covestro R&D projects must contribute to achieving the SDGs.
“But perhaps most interesting is the firm’s goal to ensure all its suppliers comply with strict sustainability requirements, on which they are all assessed. Keep in mind that nearly all of Covestro’s products are made from derivatives of oil. So when the company told its suppliers last year it wanted bio-based alternatives for all of its feedstocks by 2025, it “raised a few eyebrows,” Northcote admitted.
“‘We didn’t want this just to be about us, we believe we have a big influence on the value chain,’ he explained. ‘That goes right back to the oil majors in many cases, so it’s quite interesting to see as they start to develop their sustainability positions.'”
FULL STORY Published April 12, 2018 via GreenBiz