Home / Knowledge / News / Textiles / Polymers producer Covestro joins UN Global Compact
Polymers producer Covestro joins UN Global Compact
16
Sep '15
Covestro, formerly known as Bayer MaterialScience has joined the UN Global Compact, a voluntary initiative by companies to adopt sustainable and responsible business practices.

The UN Global Compact asks participating countries to adhere to ten guiding principles in areas such as protection of the environment, human rights, labour practices and anti-corruption.

“It is the world's largest corporate responsibility initiative with over 8,000 business and non-business participants in 135 countries,” a press release from Covestro stated.

Covestro has recently adopted its new identity after becoming legally and economically independent from parent company Bayer AG on September 1.

It supplies polymer products to key industries around the world, and is helping to meet the major challenges from climate change and resource depletion, to increasing mobility, urbanisation and population growth.

"The concept of sustainability is the foundation for everything Covestro does, so our own initiatives to help protect people and the planet, are perfectly in line with those of Global Compact", CEO Thomas Patrick said.

"We are committed to making these principles part of the strategy, culture and day-to-day operations of our newly named company," he added

Covestro's chief sustainability officer, Richard Northcote, noted, "The UN Global Compact is a great starting point, but we aim to do much more.”

“As a leader in our field, the onus is on us to set ambitious sustainability targets for 2025 that will benefit both society and the environment and that is exactly what we intend to do," Northcote observed.

With 2014 sales of €11.7 billion, Covestro is among the world's largest polymer companies and mainly serves automotive, electrical and electronics, construction and sports and leisure industries.

The company, which is a Bayer Group company has 30 production sites around the globe and employed approximately 14,200 people at the end of 2014. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Moments of EPA signing in Tokyo. Courtesy: Twitter handle of Jean-Claude Juncker

Textiles | On 18th Jul 2018

EU and Japan sign Economic Partnership Agreement

European Union and Japan have signed an Economic Partnership...

Courtesy: Tego

Apparel/Garments | On 18th Jul 2018

Tego plans to expand product range in 2018-19

Tego, a company that creates premium athletic gear for modern...

Courtesy: rawpixel.com from Pexels

Textiles | On 18th Jul 2018

Hike in import duty on textile-apparel by India beneficial

The Indian Government’s decision to raise import duty on textile and...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Top executives
Textile industry, India

The event should be organised every year

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search