Bayer once again honored as “Best in Class” in its approach to climate protection
Important international recognition:
Continued inclusion as top company in its sector in Climate Leadership Index / Dow Jones Sustainability Indices back company’s commitment to sustainability / Board Member Dr. Plischke: “Confirmation of a sustainable contribution to climate protection”
Tuesday - September 19, 2006 - New York / Leverkusen – As in 2005, Bayer has once more been awarded the title “Best in Class” in recognition of its being one of the leading companies worldwide in climate protection. As a result, it is again included in the Climate Leadership Index, the first global index for climate protection. Bayer was rated the best company in the chemical sector. This was announced yesterday in New York by the investor group of the Carbon Disclosure Project (CDP). This is a coalition of more than 200 financial service providers worldwide, with assets under management totaling more than USD 31 trillion.
Since 2004 the CDP has listed every year the best ten percent of the 500 largest stock-market-listed companies worldwide in a special index on which the investors involved base their investment decisions. In addition, Bayer stock is in 2006 once again a component of both the Dow Jones Sustainability World Index (DJSI World) and the European Dow Jones STOXX Sustainability Index (DJSI STOXX). Bayer has been continuously included as a “Best in Class” company in these two important sustainability indexes since they were first introduced in 1999 (DJSI World) and 2001 (DJSI STOXX) respectively.
“Continued inclusion in the Climate Leadership Index confirms our efforts in recent years to reduce greenhouse gas emissions and our overall climate strategy,” says Dr. Wolfgang Plischke, Bayer Management Board Member responsible for Innovation, Technology and Environment. In terms of greenhouse gas emissions Bayer has already exceeded the targets specified in the Kyoto Protocol and by the Committee of Inquiry of the German Bundestag: The aim was to reduce emissions in Germany by 25 percent from the 1990 level by 2005 and by 50 percent by 2020. Bayer has already reduced direct emissions of greenhouse gases worldwide by more than 70 percent. “With this significant decrease we have made a sustained contribution to protecting the climate, achieving this by using state-of-the-art technology, closing old facilities, changing our portfolio and deploying energy-efficient power units,” remarks Dr. Plischke.
Furthermore, a contribution to energy and resource conservation is made by various company products such as heat insulation in buildings, insulating material in refrigerators and lightweight materials in vehicles. Bayer also sees future innovation potential in this area, especially with regard to the use of sustainable raw materials and biomass.
“Bayer has set itself among FT500 by enacting a commendable response to global climate change,” says CDP Coordinator Paul Dickinson. “The global investment community is keenly aware of the risks involved in climate change and hope that corporations such as Bayer provide a solid example for others in its peer group to follow.” The Climate Leadership Index assesses companies according to how they actively integrate the challenges of climate change into corporate strategy and to specific measures they put in place to reduce emissions.
Continued inclusion in the Dow Jones Sustainability Indices also underlines Bayer’s position as a leading international company when it comes to sustainable development. “In its sustainability strategy Bayer adheres to one central principle: We aim to bring commercial success into harmony with environmental protection and meeting the needs of society,” continues Dr. Plischke. At Bayer, sustainability is an integral aspect of corporate policy: The Group’s policy guidelines state that economy, ecology and social responsibility are accorded equal importance in all of the company’s activities worldwide.
In the Dow Jones Sustainability Ranking, the Leverkusen-based Group received top ratings in the categories of environmental performance and antitrust. In terms of product safety, labor relations and sustainability reporting among other aspects, Bayer is judged to be an international leader.
The outstanding corporate sustainability performance evidenced by repeated inclusion in the Climate Leadership Index and the Dow Jones Sustainability Indices confirms the attractiveness of Bayer stock for the financial market that increasingly attaches value to sustainable development.
This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group 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 here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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