Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Covestro ensures that its advocacy is aligned with its own climate targets and the goals of the Paris Agreement through management processes that ensure that employees who directly represent interests for Covestro as well as employees who represent Covestro in industry associations are briefed and aware of Covestro's positions on energy and climate policies.
Oversight of sustainability at Covestro begins with the highest governing body, the Supervisory Board, whose Sustainability Committee was established in 2021 and which is dedicated to working on sustainability issues at Covestro. supports, monitors, and issues recommendations on the Board of Management's ESG strategies, targets, and initiatives, including the environmental, social, societal, ethical, and circular economy aspects of Covestro's business along the entire value chain. On the Board of Management, the Chair is responsible for the topic of sustainability. The Chief Sustainability Officer, who is head of the corporate Sustainability & Public Affairs (S&PA) function, reports to the Chair of the Board of Management. To support strategic guidance and implementation of sustainability across the company, a central governance body for ESG topics has been established. The ESG Governance Body is staffed with top-level executives from the business entities and relevant corporate functions. The Chief Executive Officer (CEO) of Covestro chairs the ESG Governance Body and is supported by the Chief Sustainability Officer (CSO) in this regard.
The newly created corporate function of Sustainability & Public Affairs is headed by Covestro's Chief Sustainability Officer; it ensures alignment between Covestro's sustainability goals and its advocacy. The Sustainability & Public Affairs Leadership Team coordinates internal interdisciplinary networks that include representatives of all regions, operations, and relevant corporate staff functions to review positions, develop new ones, and implement outreach activities. Employees are briefed regularly on any changes in Townhall Meetings to ensure knowledge transfer and information dissemination in a timely manner. Caretakers for industry associations are responsible for coordinating the activities of employees tasked with representing Covestro's interests in these industry associations.
Local management is responsible for adapting company positions to the relevant legislative and regulatory contexts and for communicating those positions to government officials.