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| Overall Assessment |
Comment |
Score |
| Comprehensive |
Covestro AG has demonstrated a comprehensive level of transparency in disclosing its climate lobbying activities. The company has clearly identified multiple specific climate policies it has engaged with, including the "Emissions Trading Scheme," the "development of hydrogen technologies and infrastructures," and its participation in the initiative 'Wirtschaft macht Klimaschutz' from the German Federal Ministry of Environment (BMU). It also references sustainable finance policies and energy efficiency legislation, providing detailed context for its lobbying efforts. Covestro has disclosed a wide range of lobbying mechanisms, such as membership in advisory councils, participation in steering committees, and direct engagement with policymakers, including members of the German Bundestag, the German Federal Government, and the European Commission. The company also highlights its involvement in trade associations and consultations, showcasing a transparent approach to its lobbying methods and targets. Furthermore, Covestro has been explicit about the specific policy outcomes it seeks, such as advocating for changes to the "carbon leakage list," promoting the inclusion of "CCU/S and waste incineration" in policy scopes, and pushing for an increased renovation rate in Europe. These disclosures reflect a clear and detailed commitment to transparency in its climate lobbying activities.
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4
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| Overall Assessment |
Comment |
Score |
| Strong |
Covestro demonstrates a defined governance process to ensure alignment of its climate lobbying activities with its climate change strategy and the goals of the Paris Agreement. The company states that "Covestro ensures that its advocacy is aligned with its own climate targets and the goals of the Paris Agreement through management processes that ensure that employees who directly represent interests for Covestro as well as employees who represent Covestro in industry associations are briefed and aware of Covestro's positions on energy and climate policies." This indicates a clear policy for alignment of both direct and indirect lobbying efforts. Furthermore, the governance structure includes oversight by the Supervisory Board's Sustainability Committee, which "supports, monitors, and issues recommendations on the Board of Management's ESG strategies, targets, and initiatives." The Chief Sustainability Officer (CSO), who heads the corporate Sustainability & Public Affairs function, "reports to the Chair of the Board of Management" and ensures alignment between sustainability goals and advocacy. Additionally, the ESG Governance Body, chaired by the CEO and supported by the CSO, provides strategic guidance and implementation of sustainability across the company. Covestro also describes processes for monitoring and managing lobbying activities, such as regular briefings for employees and coordination by caretakers for industry associations, who "are responsible for coordinating the activities of employees tasked with representing Covestro's interests in these industry associations." This indicates strong governance with defined oversight structures, responsible parties, and monitoring mechanisms.
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3
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