Bayer has announced a plan to reduce the company’s environmental impact with a goal of a 30 percent global reduction by 2030. As part of the new sustainability initiative, Bayer plans to invest more than $5.5 billion to address new methodologies in weed abatement. The company is looking to raise the bar “in transparency, sustainability and engagement.” The company is looking at new technologies and more precise application, as well as scaling down crop-production volumes as a means of achieving its goal.
“This will help to restore and retain biodiversity, combat climate change, and make the most efficient use of natural resources,” the company said in a press release. Bayer will also be working to better communicate the companies efforts to reduce its environmental impact. “The company will evolve its engagement policies that ground all of its interactions with scientists, journalists, regulators and the political sphere in transparency, integrity and respect.”
There have been some questions surrounding Bayer’s future after the acquisition of Monsanto last year for $63 billion and inheriting the ongoing litigation related to it glyphosate product RoundUp. Although glyphosate will remain an important aspect of Bayer’s portfolio, the company will be exploring other avenues to provide growers more choices for weed control materials. Research and development will be aimed at improving the overall understanding of resistance mechanisms, as well as developing new modes of action. Bayer will also be partnering with weed scientists around the world to help with the development of customized solutions for farmers at a local level.
“We’re making good progress on integrating the acquired agriculture business, and are now starting to implement a series of measures to drive transparency and sustainability across our business,” said Werner Baumann, Chairman of the Board of Management of Bayer AG. “We will continue to advance our standard, driven by our commitment to a better life for this generation and generations to come.”