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

Plan under way to revive Egypt's state-run textile firms

Textiles | On 20th Oct 2018

Plan under way to revive Egypt's state-run textile firms

Egyptian minister for the public enterprise sector Hisham Tawfiq...

Myanmar asks garment units to set up skill testing centres

Apparel/Garments | On 20th Oct 2018

Myanmar asks garment units to set up skill testing centres

Myanmar’s ministry of labour, immigration and population has asked...

Results of Cameroon transgenic cotton trials by 2018 end

Textiles | On 20th Oct 2018

Results of Cameroon transgenic cotton trials by 2018 end

Cameroon’s national cotton development company Sodecoton will...

Interviews View All

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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


October 2018

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

news category


Related Categories:

Advanced Search