German chemicals and pharmaceuticals giant Bayer has announced plans to follow a set of comprehensive sustainability measures and new commitments starting from next year.

In line with the Sustainable Development Goals (SDGs) of the United Nations and the Paris Agreement, the company has set ambitious targets to be achieved by 2030.

“By making sustainability an even stronger part of our strategy and operations, we aim to achieve long-term returns and generate a positive impact for society and the environment,” said Werner Baumann, chairman of the board of management of Bayer.

“The world is collectively facing an unprecedented challenge to ensure that a growing and aging world population has the chance to thrive while using the planet’s resources in a more sustainable way. “The scale of our business creates responsibility and opportunity for us to act. That is why, we are now significantly stepping up our sustainability efforts,” he added.

Bayer will monitor and report the sustainability targets with the same rigor as its financial targets. The goals will be integrated into decision-making processes and management compensation, said a statement from the company.

Furthermore, the company will establish an independent Sustainability Council consisting of external sustainability experts. Advising the board of management, the council will monitor and challenge the further development of Bayer’s sustainability efforts, it said.

Bayer’s increased efforts are designed to help more people thrive and make the most efficient use of natural resources. Following are the detailed targets:

By 2030, Bayer aims to support 100 million smallholder farmers in low-and-middle income countries by providing access to more innovations, knowledge and partnerships.

Its support will help increase local food supply and reduce poverty in rural communities. "Today there are around 550 million smallholder farms worldwide. In developing countries, they produce food for 80 per cent of the population. However, stuck in subsistence farming, many farmers suffer from hunger or malnutrition themselves," stated Baumann.

Within the same time frame, Bayer intends to provide 100 million women in low-and-middle income countries with access to family planning by funding multi-stakeholder aid programmes and by ensuring the supply of affordable modern contraceptives.

As of 2019, Bayer already provides contraceptives to about 40 million women in low-and-middle income countries. Family planning methods are vital in the support of women’s health, rights and economic status. At present, more than 200 million women in low-and-middle income countries have an unmet need for modern contraception.

In general, Bayer is working on adapting its pricing policy towards local purchasing power and strengthening patient access programmes to increase the availability and affordability of Bayer products.

The German group said it will continue to support the World Health Organization (WHO) in fighting neglected tropical diseases with product donations and financial support.-TradeArabia News Service