Categories evaluated to determine placement on the Index include transparent sustainability reporting, responsible corporate governance and human resources policy, environmental management and environment performance, customer and supplier relations, and social commitment. Since last year, innovation management has been more heavily weighted more in the overall evaluation.
Wolfgang Plischke, the member of Bayer AG’s Board of Management responsible for innovation, technology and environment, said, “With the increased significance of innovation management in company analysis, the index underlines how closely sustainability is allied to innovation—an approach that we ourselves are pursuing through our sustainability strategy.”
Bayer’s 2010 R&D budget of about €3.1 billion ($3.94 billion) is the group’s highest ever, as well as the highest research budget in the German chemical and pharmaceutical sectors.
One sustainability example: Bayer MaterialScience, which supplies the company’s polymer materials, is part of a consortium led by Pennsylvania State University recently designated to receive a $129 million U.S. Dept. of Energy grant to help establish a research center for developing technologies that make buildings more energy efficient. Other federal agencies will contribute $7 million and the State of Pennsylvania has pledged $30 million to the project.
Another example: The German Federal Ministry of Education and Research has awarded grants totaling €11 million ($14 million) for researching new methods of using carbon dioxide to create carbon building blocks with mainly renewable energy to CO2RRect (CO2-Reaction using Regenerative Energies and Catalytic Technologies), an initiative that includes Bayer Technology Services (BTS), Bayer MaterialSciences, Siemens, RWE Power, the largest German energy supplier, and ten academic and scientific partners. BTW is managing the €18-million ($22.8-million) project. —[email protected]