Annual Report 2023

External Ratings

The issue of sustainability is gaining in importance for global financial markets and investors and is becoming increasingly relevant for investment decisions. The recognition and assessment of our sustainability performance by rating agencies creates additional transparency and confirms that we are successfully implementing our strategic focus on sustainability. We actively participate in ratings that add the most significant value for our stakeholders and the company.

We took part in the following ESG ratings in the reporting year: CDP Climate, MSCI ESG, and Sustainalytics. In the reporting year, Covestro was awarded an “A–” score by the CDP organization (formerly Carbon Disclosure Project) for the third time in succession. CDP assesses the activities of companies worldwide in the area of climate protection, thus creating transparency for customers and investors. As a member of the Together for Sustainability (TfS) initiative, our Gold status, which we had attained in the sustainability ranking by EcoVadis in the year 2022, continued to apply in the reporting year. Covestro is reassessed every three years. MSCI, one of the world’s most well-known index providers, awarded Covestro an MSCI ESG rating of “A.” Due to a change in the rating methodology, the rating was lowered to “A” from “AA” in the previous year. In the ESG Risk Rating conducted by Sustainalytics, Covestro – assessed as medium risk by the provider – was among the leading companies in the specialty chemicals segment. Covestro was ranked 10th out of a total of 138 and named as an ESG Industry Top Rated Company.

In the reporting year, Covestro was again included in the FTSE4Good Index Series of the global index provider FTSE Russell.

Ratings by external ESG rating agencies

Ratings by external ESG rating agencies (graphic)
Rating agency that evaluates the degree to which supplier business practices are aligned with sustainability principles.
Internal and external interest groups which are directly or indirectly impacted by the company’s business activities and/or may be impacted in the future.
TfS/Together for Sustainability
An initiative undertaken by various companies in the chemical industry to standardize supplier assessments globally in order to improve sustainability practices in the supply chain.

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