By Kim Richters
Germany's Bayer AG (BAYN.XE) said Tuesday that it plans to become carbon neutral in its operations by 2030, as part of a set of sustainability measures.
The pharmaceutical and chemical giant said it aims to reach this target by implementing energy-efficiency standards, using renewable electricity and offsetting remaining emissions through carbon capture.
"Bayer is striving for absolute emission reduction along the entire value chain by engaging with suppliers and customers, as well as in the company's logistics and packaging," it said.
Bayer will report and review its sustainability targets in the same way as it does its financial targets and include them into decision making and management compensation, the company said.
An independent sustainability council with external experts will oversee the company's efforts, it said.
Additionally, Bayer announced a set of health and nutrition access aims. Among other things, the company said it will support smallholder farmers in low-and-middle income countries and it plans to provide millions of women in those countries with access to family-planning measures such as contraceptives.
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