Specialty chemicals company Lanxess has been recognized by the international climate protection initiative CDP as a global leader in climate protection. The company received the highest rating in the most recent evaluation and is now listed as one of 179 companies worldwide in the "Climate Change A List". Lanxess is among the top two percent out of 8,400 companies evaluated by CDP. This is the third inclusion in the "Climate Change A List" for the company, which has been disclosing data relevant to climate protection as part of the program since 2012.
"We see the inclusion in the CDP’s list of best performers as both confirmation and incentive for our commitment to climate protection. As an international chemical company, we take our special responsibility seriously. This is also reflected in our ambitious goal of becoming climate neutral by 2040," said Hubert Fink, member of the Board of Management of Lanxess AG.
The rating "A" is given to companies that stand out in terms of transparency and completeness of reporting as well as actual climate protection performance. Specifically, this includes that companies already report in line with the requirements of the "Task Force on Climate-related Financial Disclosure" (TCFD). A key element is the presentation of risks and opportunities as well as the business strategy with regard to climate change. The requirements of the TCFD will only be implemented in European legislation for financial reporting in the coming years.
Climate neutral by 2040
In the last few months, Lanxess has focused its business activities even more strongly on sustainability, with climate protection and energy efficiency being key topics.
The specialty chemicals company announced in November 2019 that it will become climate neutral by 2040 and reduce its greenhouse gas emissions from the current level of around 3.2 million metric tons of CO2. In December, Lanxess linked the interest rate terms of its main revolving credit facility to the successful reduction of its greenhouse gas emissions, among other things. Since January 1, 2020, Lanxess has also been a member of the World Business Council for Sustainable Development (WBCSD). The organization is committed to accelerating the change towards a more sustainable world.
CDP: Largest data collection of environmentally relevant data
The independent non-profit organization CDP has set itself the goal of creating worldwide transparency on greenhouse gas emissions and the management of water resources and forests. In 2019, more than 8,400 companies as well as 920 cities and countries submitted their data to the initiative. This makes the CDP data platform one of the world's most comprehensive sources of environmentally relevant information.
The ratings also serve institutional investors as a guide for Socially Responsible Investing (SRI). The project is currently supported by more than 525 investors worldwide managing assets totaling around USD 96 trillion.