Bayer unveils new carbon reduction target
19 May 2011 00:00 in Pharmaceutical Company Financials
Bayer has said it will aim to achieve a 35 percent reduction in greenhouse gas emissions by 2020.
The firm unveiled the new target as part of its latest sustainable development report, which outlines achievements made in the areas of climate protection, healthcare provision and nutrition last year.
Sub-group Bayer MaterialScience has agreed to increase its emissions reduction target from 25 to 40 percent to ensure the firm reaches its overall goal of 35 percent, which is in comparison to 2005 levels.
"Climate protection remains an ongoing task and continues to demand intensive effort," said Dr Wolfgang Plischke, a member of the Bayer board of management.
The company has also unveiled plans to increase the energy efficiency of its production facilities by a further 10 percent by the end of next year.
According to Dr Plischke, this initiative is expected to deliver annual cost savings of approximately 60 million euros (52.7 million pounds).
At the annual stockholders' meeting last month, Bayer said its overall operating performance for 2010 was back on track following a difficult period in 2009.
The group reported total sales of 35.1 billion euros - the highest figure in its history.
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