Sustainability: Part of Our Corporate Strategy
To us, sustainability means safeguarding our future viability and, as part of corporate strategy, is integrated into everyday procedures. We underline our mission as a company that acts sustainably through our commitment to the U.N. Global Compact and the Responsible Care™ initiative, and through our active global involvement in leading initiatives such as the World Business Council for Sustainable Development (WBCSD). Bayer is committed to the U.N. Sustainable Development Goals (SDGs) and released a position outlining the company’s stance on these in 2016.
Our innovations, products and services make a contribution to overcoming some of the biggest global challenges, including the SDGs of zero hunger and good global health care in particular.
Clear Responsibilities and Structures Defined
As part of Bayer’s corporate strategy, sustainability is firmly established at Board level. Responsibility for the Group’s sustainable orientation lies with the Board of Management member responsible for Human Resources, Technology and Sustainability in his role as Chief Sustainability Officer, and with the Corporate Health, Safety and Sustainability function introduced in 2016. Operational implementation is effected with the help of nonfinancial targets and performance indicators throughout the value chain, based on a clear definition of responsibilities in the corporate structure and the identification of key areas of activity using a materiality analysis. Corporate policies ensure our sustainability principles are firmly established in business operations and are implemented through management systems, committees and processes. The ongoing review and revision of directives and regular internal audits ensure that our management systems are continuously improved and aligned to the specific respective requirements.
Responsible Business Practices
Responsible business practices are the foundation of the Bayer Group‘s sustainable alignment. We can identify and mitigate risks at an early stage by implementing this alignment in the areas of compliance (e.g. anti-corruption and responsible marketing), human resources policy, product stewardship, health, environmental protection and safety, and supplier management. This is one of the key requirements for society’s acceptance of our business. On this basis, we aim to contribute to overcoming global challenges with our innovations, and in so doing develop additional business opportunities.
Our Sustainability Strategy
Our corporate strategy complies with the principles of sustainability in fulfilling our mission. Our objective is to safeguard and boost the company’s success, creating entrepreneurial value while also respecting social values. We are developing products now that will be of great social benefit in the future and are safe in both manufacture and application. This is the only way to generate sustainably profitable growth and secure our future business success. Sustainability thus makes economic sense for the company. It does not play an isolated role at Bayer but forms an integral part of our corporate strategy in the same way as the areas of research or human resources.
The focus of our sustainability strategy is on
- responsible business practices that reduce our business risks and
- our own innovative strength that both opens up new business opportunities for us and enables us to generate economic, ecological and social benefit.
We realize at four levels our goal of balancing ecological and social responsibility with corporate interests.