Our approach

Improving sustainability practices in the supply chain

Sustainability in Supplier Management aims to ensure that the way we conduct business with our suppliers is in line with environmental, social and ethical standards.

By acting responsibly in collaboration with our suppliers, we aim to minimize risks and create stable, long-term business relationships with our partners. It is also an important strategic lever for Covestro in safeguarding both its global competitiveness and the supply of materials and services. For this reason, the company applies not just economic standards, but also environmental, social and corporate governance standards in choosing new suppliers or continuing its relationships with existing ones. These standards are defined in Covestro’s Supplier Code of Conduct, which generally forms the basis for our collaboration with suppliers.

To improve sustainability practices within the supply chain we follow a 4-step process:

Supplier Awareness

Our expectations in the areas Ethics, Labor, HSEQ (Health, Safety, Environment and Quality) and Management Systems are defined in the Supplier Code of Conduct, which is made available to all Covestro suppliers.
Supplier Nomination

Suppliers are selected for sustainability evaluations based on a combination of country and material risk as well as strategic importance in accordance with Covestro’s Corporate Business Targets.
Supplier Sustainability Performance Evaluation

Selected suppliers for further evaluation are either audited by an external audit company or assessed by EcoVadis (our external sustainability rating provider).
Supplier Development

All assessment and audit results are thoroughly analyzed and documented. If deficiencies are found, we develop corrective actions together with the respective suppliers to ensure that they observe social, ethical and environmental standards in future.

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Ecovadis

For assessments we work together with EcoVadis, a leading web-based platform for sustainability performance monitoring. The assessments are based on a web-supported, modular questionnaire completed by the supplier, coupled with accompanying verification documents and 360° screening.

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Together for Sustainability

Together for Sustainability (TfS) is a global network of 31 chemical companies and a joint initiative. It delivers the de global standard for social, environmental and governance performance of chemical supply chains and is based on the UN Global Compact and Responsible Care® principles.

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Procurement

Supplier Code of Conduct

Our Supplier Code of Conduct encompasses all our most important social, ecological and ethical standards.
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Industry Initiative

We want to establish and develop a sustainable supply chain together with our partners.
Procurement

Sustainability in Procurement

Compliance with sustainability standards in the supply chain is fundamental. Therefore we aim to ensure that the way we conduct business with our suppliers is in line with environmental, social and ethical standards. Learn more!
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Procurement

We show you how our Procurement department manages global procurement activities.