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Covestro is a leading global supplier of high-tech polymer materials, headquartered in Leverkusen, Germany. The company operates in the Organic Resins, Fibers & Rubber sector and is committed to driving decarbonisation and sustainability across its operations. Covestro's products are used in a wide range of applications, including automotive, construction, electronics, and healthcare.

Covestro has a strong focus on corporate energy and renewable energy. The company has set ambitious targets to reduce its carbon footprint and increase the use of renewable energy in its operations. Covestro is committed to achieving carbon neutrality by 2025 and has already made significant progress towards this goal.

One of the key ways that Covestro is driving decarbonisation is through the use of corporate power purchase agreements (PPAs). PPAs allow companies to purchase renewable energy directly from generators, often at a lower cost than traditional energy sources. Covestro has signed a number of PPAs in recent years, including agreements to purchase wind power from a wind farm in Texas and solar power from a solar park in Spain.

In addition to PPAs, Covestro is also investing in renewable energy projects of its own. The company has built a large solar park at its production site in Thailand, which generates enough energy to power the entire facility. Covestro has also installed a number of wind turbines at its site in the Netherlands, which provide renewable energy to the local grid.

Covestro's commitment to renewable energy is also reflected in its corporate energy strategy. The company is working to reduce its overall energy consumption and increase the use of renewable energy across its operations. Covestro has set a target to reduce its energy consumption by 50% by 2025, compared to 2005 levels. The company is also investing in energy efficiency measures, such as upgrading its production processes and equipment.

Another key focus area for Covestro is the development of sustainable products. The company is committed to using renewable raw materials and reducing the environmental impact of its products throughout their lifecycle. Covestro has developed a range of sustainable products, including a bio-based polyurethane foam made from renewable raw materials and a water-based coating system that reduces emissions.

Covestro is also actively involved in research and development to drive innovation in the field of sustainability. The company has established a dedicated research center in Germany, which focuses on developing new materials and technologies that are more sustainable and environmentally friendly. Covestro is also collaborating with other companies and organizations to drive innovation in the field of sustainability.

Overall, Covestro is a leading player in the Organic Resins, Fibers & Rubber sector, with a strong focus on decarbonisation, corporate energy, corporate PPAs, and renewable energy. The company is committed to driving sustainability across its operations and is making significant progress towards its goal of carbon neutrality by 2025. Covestro's focus on renewable energy, sustainable products, and innovation make it a leader in the field of sustainability and a key player in the transition to a low-carbon economy.

✓ Current offtaker under Corporate PPA's
✓ Declared Net Zero commitment