Among the more than 950 companies in the world that joined the global SBTi initiative, 150 had their environmental commitments scientifically confirmed
Leverkusen, September 2020 – The independent Science Based Targets initiative (SBTi) has assessed Bayer AG’s climate protection targets and confirmed that the company is playing its part in limiting global warming to 1.5°C, in line with the requirements of the Paris Climate Agreement. To achieve this, the company will reduce its emissions by 42% by 2029.
The SBTi is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund For Nature (WWF). To date, more than 950 companies worldwide have signed up to the initiative. Only about 150 of these companies, such as Bayer, have had their targets approved as being in line with what is needed to limit global warming to no more than 1.5°C.
Bayer is also planning additional climate protection measures that go beyond the targets endorsed by the SBTi. One example is the company's remaining internal emissions, which are to be offset so that the company becomes CO2-neutral.2 from 2030 onwards.
Furthermore, Bayer aims to help reduce greenhouse gas emissions per kilogram of yield in major agricultural markets by 30% by 2030. This target is to be achieved by focusing on more emission-intensive forms of cultivation in the regions where the company operates.
“By committing to reducing our emissions, we have set ourselves a very ambitious target. This is a crucial step as we pursue our lofty goal of becoming climate neutral by 2030. It shows that we are committed to living up to our responsibility as a leading life sciences company in the areas of health and nutrition. Climate change poses a threat to all of humanity and we must be absolutely determined to tackle it,” said Werner Baumann, Chairman of the Board of Management of Bayer AG. The achievement of climate targets has therefore also been integrated into the long-term compensation package of the Board of Management.
Bayer is striving to reduce direct emissions from its own plants, vehicles and production facilities, as well as indirect emissions from the purchase of electricity, steam and cooling, in line with the goal of limiting global warming to a maximum of 1.5°C. To this end, the company will reduce its absolute CO2 emissions over the next ten years by at least 42% compared to the 2019 baseline – equivalent to 1.558 million metric tons, similar to the emissions of a country like Malta.
“Through our commitment to sustainability, we aim to actively contribute to achieving the United Nations Sustainable Development Goals. We now have scientific confirmation that our CO2 reduction targets meet the most ambitious requirements of the Paris Climate Agreement,” says Matthias Berninger, Head of Public Affairs, Science and Sustainability at Bayer. “As a company with a strong scientific background, we feel it is important to be part of the Science Based Targets initiative to ensure that our contribution to climate protection is grounded in science and is traceable and transparent.”
Bayer will regularly map its progress towards meeting these climate protection targets in its annual report and sustainability report. The Science Based Targets initiative will also analyze compliance on an annual basis.
About Bayer
Bayer is a global enterprise with core competencies in the areas of health and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the key challenges posed by a growing and aging global population. At the same time, the Group aims to increase its profitability and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, credibility and quality worldwide. In fiscal 2019, the Group employed around 104,000 people and had sales of EUR 43.5 billion. Capital expenditures amounted to EUR 2.9 billion, and R&D costs amounted to EUR 5.3 billion. For more information, please visit www.bayer.com.
Forward-looking statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given herein. These factors include those discussed in Bayer’s public reports, which are available on Bayer’s website at www.bayer.com. The company assumes no responsibility for updating these forward-looking statements or adapting them to reflect future events or developments.
