Economic Growth and Sustainability Go Hand in Hand
“Health for all, Hunger for none” - putting an end to hunger and helping everyone lead a healthy life, while at the same time protecting ecosystems. That’s what we are helping to achieve, guided by our corporate purpose “Science for a better life.” “With our sustainability strategy, one of the four strategic levers of our Group, we are addressing the major challenges of our time and strengthening the societal impact of our company and our business. We are focusing on generating inclusive growth, while at the same time reducing our ecological footprint along our value chain. We firmly believe that economic growth and sustainability ought to go hand in hand, which is why sustainability is a key component of our business strategy.” says Matthias Berninger, head of Public Affairs, Science and Sustainability.
Climate change, water scarcity and the loss of biodiversity are among the most pressing challenges of our time. For decades, humans have consumed more natural resources than our planet can reproduce. This deficit has already left its mark. It is harming people’s health and jeopardizing the food supply for a growing world population. At the same time, poverty, inequalities, disease and hunger are increasing. In many parts of the world, health care is still reserved for those who can afford it.
As a leading global company in the areas of health and nutrition, we help find appropriate solutions through our business activities.
Sustainability Anchored At All Levels
Sustainability is anchored at the core of our strategy, our operations and our normative basis on how we run our businesses. Our businesses promote sustainable development and, in so doing, impact society and open up growth opportunities for our company. The Group’s focus on sustainability is founded in responsible business practices, in which the principles of Bayer Societal Engagement (BASE) play a pivotal role. An independent, externally staffed Sustainability Council advises the company on all sustainability matters.
We already reach more than one billion people worldwide with our products and services. Now we will invest further in inclusive growth to enable positive development for more people. To this end, we have established clear targets to be met by 2030 for our core issues of food security, health care and reducing our ecological footprint.
Sustainability Targets In Management Compensation
We want to be judged on how effectively we attain our sustainability commitments. Therefore, sustainability targets are being integrated into the company’s decision-making processes and also into the remuneration systems of all managerial staff incl. the Board of Management. Target fulfillment ? based on the “100 million” targets and the climate targets reviewed by the SBTi, i.e. our key performance indicators has a 20 percent weighting in the long-term management remuneration. Bayer is one of the first industrial companies in the world to have measurable sustainability targets that carry significant weight in the long-term remuneration of its management staff.