Covestro announces its indirect emissions neutrality target

　　Sinochem New Network News On February 29, Covestro announced its climate neutrality target for indirect emissions from upstream and downstream carbon emissions. As a result, the company has developed a complete climate strategy to reduce greenhouse gas emissions. Covestro said that as a short- and medium-term goal, the company plans to reduce greenhouse gas emissions by 10 million tons of indirect emissions by 2035, a 30% reduction from the 2021 base year. The target already takes into account emissions from growth until 2035. In the long term, Covestro aims to achieve net-zero indirect greenhouse gas emissions by 2050.

　　Covestro CEO Markus "Ambitious emissions reduction targets are realistic. This is an important part of the company's climate strategy. He stressed that Covestro is committed to aligning all its activities with the vision of full circularity, resulting in a complete climate neutrality goal. The announcement of emission reduction targets is another important milestone on the road.

　　In 2022, Covestro announced its direct emission reduction targets, which include carbon neutrality in its operations by 2035. At Covestro, we believe that reducing indirect emissions requires a transformation of the entire supply chain. A number of interrelated factors should play a key role in this process, including the availability of alternative raw materials and renewable energy, technological development and process innovation, and market transformation. To achieve net-zero emissions, Covestro will make targeted investments totaling hundreds of millions of euros over the next 10 years. In line with its climate strategy, Covestro will focus on raw materials, end-of-life treatment, fuel and energy-related and upstream transport in the short to medium term. Investments and negotiations are ongoing. For example, in the field of raw materials, the company has put forward requirements for its suppliers to reduce carbon emissions. Covestro is currently actively negotiating with suppliers on this topic.

　　In addition, Covestro intends to reduce its indirect carbon emissions through the sale of products made from alternative raw materials and the in-house production of raw materials with a low carbon footprint.