Covestro is committed to making the circular economy a model for a truly sustainable world. This was the message of the webcast hosted by CEO Markus Steilemann that was livestreamed 26 May to viewers around the world.
“The circular economy will lead the world as a whole to a sustainable future. It must become the global guiding principle to achieve climate neutrality and protect the dwindling resources of our planet,” Steilemann said.
“By working together, we can power the shift to Circular Economy, helping make our planet a more sustainable, healthier, cleaner place to live. In accelerating this transition, the plastics industry has a prominent role to play.”
The company launched a strategic programme last year with the aim doing just that.
“By using alternative raw materials and renewable energy, we aim to shrink plastic's environmental footprint, reduce our emissions, and eliminate waste. We're also working to develop innovative technologies that improve and promote the recycling of used products and materials,” Steilemann declared.
Underscoring that commitment, Covestro today announced that it was launching a strategic collaboration in Europe with Neste, a leading Finnish producer of renewable hydrocarbons, derived from renewable raw materials, such as waste and residue oils and fats. A drop-in, Neste’s product is suitable for existing production infrastructures.
“The polymers and chemicals industries will play a major role in the circular economy and fight against climate change. That is why Neste is committed to supporting the industry forerunners like Covestro on their sustainability journey,” said Neste’s President and CEO Peter Vanacker.
Over the short term, the collaboration aims to replace several thousand tons of fossil raw materials in the production of polycarbonates with raw materials produced with Neste’s renewable hydrocarbons.
“Cross-industry collaboration is needed to bring the Circular Economy forward”, said Steilemann “With this collaboration we are emphasizing our intention to make our production more sustainable and to drive forward the change to a circular economy. Using alternative raw materials more intensively as we are doing is an important basis for this.”
The companies plan to expand the scope of their partnership to other types of polymers in the future. At the same time, they are inviting other stakeholders along the value chains to cooperate.
As Steilemann emphasised: “We aim to collaborate with as many players as possible from across all areas of the value chain. By working together, we will not only realize new business opportunities but will also help make the world a brighter place for us all.”