Compensation Report
Overview
The Compensation Report outlines the essential features of the compensation system for the members of the Board of Management and the Supervisory Board of Covestro AG and explains the compensation of the individual members. The report conforms to the requirements of the applicable accounting and reporting regulations for listed companies, the German Commercial Code (HGB), the principles of German Accounting Standard No. 17 (DRS 17), and International Financial Reporting Standards (IFRSs). It also complies with the recommendations of the German Corporate Governance Code (GCGC) in the version of February 7, 2017, applicable on the reporting date.
HGB/German Commercial Code
Comprises much of the German accounting legislation
DRS/German Accounting Standards
Pronouncements of the German Accounting Standards Committee e. V., which substantiate the HGB requirements in reference to the application of the Group accounting principles
IFRSs/International Financial Reporting Standards
International accounting standards as endorsed by the European Union
DCGK/German Corporate Governance Code
A set of regulations compiled by the Government Commission on the German Corporate Governance Code in respect of responsible corporate governance, which contains recommendations and suggestions for the management and oversight of listed corporations in Germany