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Corporate Social Responsibility
News
9.24.2007 - 03:09pm ET
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Bayer Judged "Best in Class" Globally for Climate Protection
(CSRwire) Only German company in chemical sector included in climate index
Corporate climate strategies of increasing significance to investors
Board of Management member Dr. Plischke welcomes "major recognition
for our efforts, which we are intensifying"
LEVERKUSEN - September 24, 2007 - For the third time in a row, Bayer has
been included in the Climate Disclosure Leadership Index, the first
international climate protection index, with the classification "Best in
Class". This year, Bayer received this commendation as the only
German-based company in the chemical sector. Independent experts ranked
the world's 500 largest, listed companies. This was announced by the
Carbon Disclosure Project (CDP) investor group in New York.
"Bayer has set itself apart from its peers by enacting a commendable
response to global climate change," says CDP Chief Executive Paul
Dickinson. "The global investment community is keenly aware of the risks
and also the business opportunities involved in climate change and hope
that corporations such as Bayer provide a solid example for others in its
peer group to follow."
How companies strategically meet the challenges of climate change while
managing both opportunities and risks plays an increasingly significant
role in the investment decisions of CDP investors. According to their own
figures, over 300 international financial service providers with a
combined USD 41 trillion of assets under management have come together in
this initiative.
"We are delighted with this excellent ranking from key investors who value
Bayer's climate protection measures and its handling of the consequences of
climate change and rate it one of the world's leading companies in its
sector," says Dr. Wolfgang Plischke, who is responsible for innovation,
technology and the environment on the Bayer AG Board of Management. "We
are further strengthening our efforts in this area with the recently
launched Bayer Climate Program, since climate protection is a central
component of our strategy to operate successfully and sustainably and to
act in a socially responsible way."
Bayer is looking to use a new testing system to further conserve natural
resources and continue cutting emissions in its own production operations
as part of a group-wide, long-term climate program. A further focus of the
program lies in realizing innovative concepts for environmentally friendly
office and industrial buildings. In addition, Bayer is working on
developing plants that also produce sufficient yields in dry or hot
conditions - conditions that could become more pronounced as a result of
climate change. Bayer products will also be used increasingly to create
plants that will serve as the basis for biofuels. Biofuels are becoming
increasingly important, with biotechnology able to play a key role in
safeguarding yields, especially as at the same time demand is rising for
plant-based products to feed both people and animals.
In everyday life, Bayer products such as heat insulation materials in
houses, insulating material in refrigerators and lightweight materials in
vehicles are already helping in a variety of ways to conserve natural
resources and cut emissions.
A further strategic focus is the reduction of direct and indirect
greenhouse emissions, i.e. those created by suppliers during energy
generation.
Each year since 2004, the CDP has included those FT500 companies in the
Climate Disclosure Leadership Index that significantly reduce greenhouse
gases and implement strategies for dealing with climate change and provide
information on these. This year, there are 68 such companies. Institutional
investors involved in the initiative base their investment decisions on the
composition of the index as well as other financial criteria.
Further information on CDP rankings is available on the Internet at www.cdproject.net.
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