Lanxess joins World Business Council for Sustainable Development

German speciality chemicals company, Lanxess has reaffirmed its commitment to being environment friendly and as part of its endeavour the company has joined the World Business Council for Sustainable Development (WBCSD) on January 1, 2020.

The WBCSD is a global, CEO-led organisation working together to accelerate the transition to a sustainable world. At the core of the network are its six work programs, for example on climate and energy or circular economy, targeting the realisation of the United Nation’s Sustainable Development Goals (SDGs). The WBCSD’s approximately 200 member companies represent 19 million employees and $8.5 trillion (Rs 60,341,500 crore) in sales. Interestingly among the global names, around 10 Indian companies are already part of WBCSD, which includes Aditya-Birla Group, Godrej, ITC, Infosys, Jain Irrigation, Mahindra Rise, Reliance Industries, Tata Group, UPL and Vedanta.

Commenting on the initiative, Matthias Zachert, CEO, Lanxess said: “Sustainability bolsters our business objectives in many different ways – whether by ensuring greater resource efficiency, good relationships with our stakeholders, greater risk awareness or long-time beneficial cost structures. I am delighted to have joined the World Business Council for Sustainable Development where, together with other member companies, we will be able to make a business case for sustainability.”

Peter Bakker, president and CEO,  World Business Council for Sustainable Development: “WBCSD is pleased to welcome Lanxess as our newest member. We are dedicated to working towards a transformation of the key systems across society, and Lanxess – as a provider of sustainable solutions for a wide range of areas – will strengthen the collaboration we aim for and help accelerate the transition to a sustainable world.”

According to the compant, there is an increased focus on sustainability in the past few months. In November 2019, Lanxess had announced its target to become climate neutral by 2040. In December, they went on to link the interest rate terms of the main revolving credit facility to the overall sustainability criteria.