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    1COV   DE0006062144

COVESTRO AG

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Covestro : launches first Global D&I Report

05/21/2021 | 05:03am EDT
21
May
2021
|
11:00
Europe/Amsterdam
Covestro launches first Global D&I Report
Toward a more inclusive future
Covestro_Diversity-and-inclusion
Diversity, equity and inclusion at Covestro

Today, Covestro launches its first global diversity and inclusion (D&I) report. It contains information on the company's D&I strategy, facts and figures, and regional examples documenting Covestro's progress toward an even stronger focus on diversity and inclusion.

'The recipe for success in business is committed employees: collaborative and full of ideas. The more diverse people are, the better - this is our conviction and what we aspire towards,' says CEO Dr. Markus Steilemann. 'We want to establish a true culture of diversity and inclusion across the whole company, anchored in every aspect of our activities. This document is another milestone in our journey and I would like to thank everybody involved.'

Record of progress on a yearly basis

The 'Covestro Global Diversity & Inclusion Report 2020' is the first of its kind and includes a review of activities in 2020 with consolidated information on how diversity and inclusion at Covestro contribute to the company's success. This includes, among other things, diverse team structures and the establishment of an inclusive and supportive work environment and corporate culture. From now on, Covestro will publish a global D&I report annually.

'As you'll see in this report, we started a journey five years ago to understand the identities, interlinks, differences and experiences of Covestro employees worldwide,' says Sophie von Saldern, Head of People & Culture. 'Looking forward, we will continue to use data-informed efforts to support D&I as we grow and change the company in these transformative times. We will keep working to reach our goals even as we address disruptive challenges, such as the COVID-19 pandemic.'

Strategically embedded: Promoting diversity and inclusion

Covestro wants to make the world a brighter place and is committed to an inclusive, diverse and respectful working environment. That's why the Group advances the topics of diversity and inclusion as core elements of its corporate culture. Covestro derives its diversity and inclusion strategy from its corporate values, focusing on three areas of activity:

  • Colleagues: Build, engage and develop a strong, diverse workforce.
  • Company: Establish an inclusive, supportive work environment and culture for everyone.
  • Community: Develop genuine relationships and expand opportunities for achieving business objectives through community engagement, supplier diversity and customer interactions.

Covestro will continue expanding its diversity activities in the future to strengthen diversity and representation of employees worldwide. This will include defining D&I metrics and enhancing processes and systems to capture and measure these efforts.

Boilerplate

About Covestro:

With 2020 sales of EUR 10.7 billion, Covestro is among the world's leading polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative, sustainable solutions for products used in many areas of daily life. In doing so, Covestro is fully committed to the circular economy. The main industries served are the automotive and transportation industries, construction, furniture and wood processing, as well as electrical, electronics, and household appliances industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. At the end of 2020, Covestro has 33 production sites worldwide and employs approximately 16,500 people (calculated as full-time equivalents).

Forward-looking statements

This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Disclaimer

Covestro AG published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 09:02:03 UTC.


ę Publicnow 2021
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P/E ratio 2021 7,95x
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Average target price 67,79 €
Spread / Average Target 24,7%
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Markus Steilemann Chief Executive Officer
Thomas Toepfer Chief Financial Officer & Labor Director
Richard Pott Chairman-Supervisory Board
Klaus Schńfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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