Sep. 24 /CSRwire/ -
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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