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Market News

 November 20, 2007
Bayer to Spend $1.46 Billion on Climate Program

 Leverkusen, Germany -- Bayer has launched its Group-wide Climate Program, a multi-focus plan for reducing carbon emissions and protecting the environment.

Some initiatives, such as a concept for zero-emission buildings and the creation of stress-tolerant plants, have already begun. Others will be rolled out and run over the course of several years. Overall, Bayer plans to invest $1.46 billion in climate-related projects in the next three years.

"We are well aware that we are an emitter of greenhouse gases," said Chairman of the Board of Management of Bayer AG Werner Wenning. "That was why in the past we focused our attention on lowering CO2 emissions."

Since 1990 Bayer has worked to reduce its greenhouse gas emissions, and it has set new emission targets for the period between 2005 and 2020.

To scrutinize its own processes, the company has developed Bayer Climate Check, a new method for increasing energy efficiency and reducing emissions at production plants. Initially, 100 production facilities worldwide will undergo the Climate Check.

As for new construction, Bayer's EcoCommercial Building concept is meant to create zero-emission buildings. In spring next year, Bayer will launch the project with construction of an EcoCommercial company office building near New Delhi, India.

Also internally, Bayer will begin offering incentive systems, initially in Germany, then elsewhere, for using low-emission vehicles and gas-fueled company cars. The company wants to cut emissions from company vehicles by 20 percent from 2007 to 2012.

One project in the Group-wide Climate Program is meant to preserve the environment. Bayer plans to utilize biotechnology to make plants more resistant to situations such as drought and heat as a way to safeguard harvests and raise yields.

Bayer also plans to encourage scientific innovations in climate protection and to motivate young people to become interested in the climate through Bayer Science and Education Foundation. Every two years the foundation will give the Bayer Climate Award, with a prize of about $73,000, for groundbreaking solutions for climate protection.