Disclosures on Sustainability Reporting
Covestro aims to help protect the environment, conserve limited resources, advance society and create value, all by firmly integrating sustainability into the corporate strategy and management.
Our sustainability reporting is based on recognized standards. We report on material topics and nonfinancial performance indicators pursuant to Section 315 (3) of the German Commercial Code (HGB) in our Group Management Report and supplement this information with additional content, which is additionally required in accordance with the standards of the Global Reporting Initiative (GRI) “core” option. Furthermore, as a member of the UN Global Compact, we submitted a corresponding progress report in April 2019.
Nonfinancial Group statement
We publish the nonfinancial Group statement pursuant to Sections 315b and 315c in conjunction with Sections 289c through 289e HGB as an integrated part of the Group Management Report. The respective sections include the strategies we pursue in addressing environmental, labor and social issues as well as protecting human rights and fighting corruption and bribery, including the due diligence processes followed and measures implemented, as well as the outcomes of these strategies.
We applied the GRI standards as a framework for preparing the nonfinancial Group statement.
Key topics relevant to the nonfinancial Group statement are identified in an internal process and in consideration of their significance and implementation within the company. The starting point for this is the materiality analysis and the material topics identified or updated as a result, i.e., the topics of high or very high relevance for Covestro. The following table provides an overview of the key sustainability topics with an eye to the relevant aspects and contains references to the specific sections in the Group Management Report. In order to identify and address current developments and sustainability-related opportunities and risks at an early stage, we also review whether there are any new findings relevant to opportunity and risk management.
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Key topics of the Group’s nonfinancial statement (German Commercial Code) |
Relevant aspects in accordance with the Group’s nonfinancial statement (German Commercial Code) |
Section reference in the Group Management Report |
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Innovative solutions that contribute to the UN Sustainable Development Goals |
Environmental matters, social matters |
“Innovation,” |
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Environmentally efficient operations |
Environmental matters |
“Environmental Protection,” |
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Occupational health and safety |
Employee matters |
“Safety,” |
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Employer attractiveness |
Employee matters |
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Product stewardship |
Social matters |
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Circular economy |
Environmental matters |
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Inclusive business |
Social matters |
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Sustainability in the supply chain |
Environmental matters, social matters, fighting corruption and bribery, respect for human rights |
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Business ethics, human rights due diligence and transparency |
Fighting corruption and bribery, respect for human rights |
“Employees,” |
As an integral part of the Group Management Report, the nonfinancial Group statement was audited by the financial statement auditor, KPMG AG Wirtschaftsprüfungsgesellschaft, as part of the audit of the consolidated financial statements based on an expansion of the audit engagement.
A nonfinancial statement or nonfinancial report does not have to be provided at this time for Covestro AG.