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 assessment and the material sustainability topics identified or updated as a result, i.e., the topics that are of medium or high relevance to Covestro and on the aspects of which Covestro’s business activities have a medium or high impact. 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. No material risks have been identified in connection with Covestro’s own business activities, business relationships, or products that have or are very likely to have a severely negative impact on the nonfinancial aspects of the company’s business.
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Key topics of the Group’s nonfinancial statement (German Commercial Code) |
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Relevant aspects in accordance with the Group’s nonfinancial statement (German Commercial Code) |
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Section reference in the Group Management Report |
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Circular economy |
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Environmental matters, social matters |
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"Strategy,“ |
Climate neutrality |
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Environmental matters, social matters |
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"Strategy,” |
Sustainable R&D based innovation portfolio |
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Environmental matters, social matters |
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"Management,” |
Sustainable products & product stewardship |
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Environmental matters, social matters |
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Employer attractiveness |
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Employee matters |
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"Employees.“ |
Compliance |
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Environmental matters, fighting corruption and bribery, respect for human rights |
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Diversity, equity & inclusion |
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Employee matters, respect for human rights, social matters |
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"Employees.“ |
Inclusive business |
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Social matters |
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Human rights |
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Respect for human rights, social matters |
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Sustainability in sourcing |
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Environmental matters, social matters, fighting corruption and bribery, respect for human rights |
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Health & safety |
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Employee matters, environmental matters, social matters |
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"Integrated Management System for Health, Safety, Environment, Energy, and Quality,“ |
As an integral part of the Group Management Report, the nonfinancial Group statement was audited by the financial statement auditor, KPMG AG Wirtschaftsprüfungsgesellschaft, Düsseldorf (Germany), 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.