Covestro
Covestro AG, headquartered in Leverkusen, Germany, is a leading global manufacturer in the polymer industry, specialising in high-performance materials and innovative solutions. Founded in 2015, following its spin-off from Bayer, Covestro has rapidly established itself as a key player in the production of polycarbonate, polyurethane, and coatings, adhesives, and specialties. With a strong presence in Europe, Asia, and the Americas, Covestro is committed to sustainability and circular economy principles, offering unique products that enhance energy efficiency and reduce environmental impact. The company’s dedication to innovation has led to significant achievements, including advancements in bio-based materials and recycling technologies, positioning Covestro as a frontrunner in the industry.
DitchCarbon Score
How does Covestro's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Chemicals industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Covestro's score of 39 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Covestro's reported carbon emissions
In 2023, Covestro reported total greenhouse gas emissions of approximately 20,860,000,000 kg CO2e. This includes Scope 1 emissions of about 932,000,000 kg CO2e, Scope 2 emissions of approximately 4,180,000,000 kg CO2e (market-based), and significant Scope 3 emissions totalling around 15,750,000,000 kg CO2e. Covestro has set ambitious climate commitments, aiming for net-zero emissions for both Scope 1 and Scope 2 by 2035. Additionally, the company plans to achieve a 60% reduction in direct and indirect greenhouse gas emissions by 2030, targeting a decrease from a baseline of 5,600,000,000 kg CO2e in 2020 to 2,200,000,000 kg CO2e by 2030. This reduction encompasses both Scope 1 and Scope 2 emissions. Furthermore, Covestro is committed to reducing emissions across its entire value chain (Scope 3) by 30% by 2035, equivalent to a reduction of about 10,000,000,000 kg CO2e compared to 2021 levels. The company also aims to halve specific greenhouse gas emissions per metric ton of product manufactured by 2025, using 2005 as a benchmark. These initiatives reflect Covestro's dedication to sustainability and its proactive approach to addressing climate change within the chemical industry.
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| 2016 | 2017 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 2,330,000,000 | 0,000,000,000 | 0,000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 5,070,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | 4,680,000,000 | 0,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Covestro is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
