Bayer recognized as leader on climate change for fifth consecutive year
Bayer receives the highest CDP score for its activities and transparency in climate change / This rating confirms the company’s high commitment to sustainability / A record-breaking 18,700 companies disclosed data on environmental impacts, risks, and opportunities through CDP’s platform / 3.4 percent of companies scored on climate received an A (globally) / Bayer, committed to net-zero by 2050, continues to reduce scope 1,2 & 3 own emissions and along the value chain following SBTi’s guidelines and supports decarbonization of agriculture through a 2.5 billion euro innovation budget in crop science
Leverkusen, December 14, 2022 – Bayer has been recognized for leadership in corporate transparency and performance on climate change by global environmental non-profit CDP, securing a place on its annual ‘A List’.
Based on data reported through CDP’s 2022 Climate Change questionnaire, Bayer is one of a small number of companies that achieved an ‘A’ – out of nearly 15,000 companies scored. Bayer has held its leadership position for half a decade and has never scored below an A- since first submitting a CDP climate change questionnaire in 2010. This year, 3.4 percent of companies scored on climate received an A rating.
Matthias Berninger, Executive Vice President of Public Affairs, Science, Sustainability & HSE at Bayer, said: “Bayer’s excellent track record of CDP ratings in the past few years and the latest result validate the company’s high commitment to sustainability. The maintenance of a CDP A-rating for our work and transparency around climate change is an important acknowledgment of our ongoing position as a world-leading company in this field. CDP holds us to account for reporting on our ambitious efforts in decarbonization and demonstrates that reporting requirements recently proposed by several governments are attainable.”
Bayer also appeared in the CDP “Forest” and “Water Scarcity” rankings. In “Forest” Bayer achieved a respectable “B” status while scoring an “A-” in “Water Scarcity”.
A record number of companies participated in this year’s CDP ranking
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over 130 trillion U.S. dollars in assets and 280 major purchasers with 6.4 trillion U.S. dollars in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.
Maxfield Weiss, Executive Director, CDP Europe said: “Congratulations to all companies on the CDP A List 2022 – a small group of leading corporates among the nearly 20,000 disclosing environmental data to CDP this year. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature.’’
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that do not disclose or provided insufficient information are scored an F.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros. For more information, go to www.bayer.com.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.