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Bayer Included Once Again In Carbon Disclosure Leadership Index

Submitted by: Bayer

Categories: Environment, Ratings & Awards

Posted: Sep 22, 2008 – 01:46 PM EST

 

Bayer is one of the world's leading companies in climate protection

NEW YORK,NY. - September 22, 2008 - Bayer has this year once again been included in the Carbon Disclosure Leadership Index, the first global climate protection index. This was announced in New York by the Carbon Disclosure Project (CDP) Investor Group. This singles Bayer out as a leading international company in the field of climate protection. Bayer is the only European company from the chemical and pharmaceuticals industry to be included in the climate index for the fourth successive year. The assessment of the world's 500 largest listed companies was carried out by independent experts from the audit firm PricewaterhouseCoopers (PwC). PwC described Bayer as an "exemplary" company in the Leadership Index.

"We are very delighted by this renewed commendation," says Dr. Wolfgang Plischke, who is the member of Bayer AG's Board of Management responsible for Innovation, Technology and Environment. "It shows that investors recognize the efforts we are making through the Bayer Climate Program, which we are continuing to drive forward."

How companies strategically meet the challenges of climate change plays a major role in the investment decisions of CDP investors. According to the CDP's figures, 385 international financial service providers with a managed investment volume totaling in excess of USD 57 trillion have come together in this initiative. Last year investment volume was USD 41 trillion.

"Good corporate governance in respect of climate change disclosure will inevitably reap its rewards. As carbon regulation increases, those companies that have implemented climate change related strategies are clearly going to be in a far better position to meet the challenge of higher carbon prices than companies that have procrastinated," comments Paul Dickinson, Chief Executive of the Carbon Disclosure Project. "Good disclosure practices are synonymous with good management."

The ranking assesses each company's strategy on climate protection and on addressing climate change, its targets for reducing emissions of greenhouse gases and its endeavors in this field. Key factors include the extent to which the company regards the challenges of climate protection as an opportunity for its business and seeks to minimize the climate change risks resulting from its operations. Basis for the evaluation is the level of transparency in the company's reporting.

Since 2004, the CDP has listed the FT500 companies with the best climate protection performance in the Carbon Disclosure Leadership Index. This year, there are 67 such companies. Institutional investors involved in the initiative base their investment decisions to a significant degree on the composition of the index as well alongside other financial criteria.

Bayer's Climate Protection Program, which was launched at the end of 2007, brings together a wide variety of measures to further reduce its emissions of greenhouse gases and develop new solutions targeted at climate protection and climate change issues. For example, Bayer and partners are currently implementing a new concept for zero emission business premises in India. Known as the EcoCommercial Building, the principle can be adapted to different climate zones. Moreover, Bayer is working on the development of plants that are resistant to heat, drought and cold and on sustainable use of plant-based fuels. Further, the Group is currently carrying out a specially developed "Bayer Climate Check" to evaluate potential for a further reduction in emissions of greenhouse gases at its global production facilities.

The integrated Bayer Climate Program also includes action to reduce greenhouse gas emissions from company cars and business air travel. These efforts are supplemented by initiatives targeted at schools and scientists. Bayer fosters school students' commitment to climate protection through grants to attend climate protection courses and has established a new "Bayer Climate Award", which will be conferred for the first time at the end of 2008. This is the first international prize for basic climate research.

Further information on CDP rankings is available on the Internet at www.cdproject.net

More information on the Bayer Climate Program at www.climate.bayer.com

For more information, please contact:

Phone: +49 (0)214 30-29908

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