Covestro Reaches Net-Zero Electricity Emissions at Four U.S. Sites Through Ørsted vPPA

Covestro Reaches Net-Zero Electricity Emissions at Four U.S. Sites Through Ørsted vPPA

(IN BRIEF) Covestro has achieved net-zero Scope 2 electricity emissions at four of its U.S. production sites through a virtual Power Purchase Agreement (vPPA) with Ørsted. This collaboration, which provides 90 MW of renewable energy capacity, allows Covestro to reduce approximately 90,000 tons of CO2 emissions annually. Three of its sites have achieved complete net-zero emissions, with the remainder of the certificates applied to the Baytown, Texas facility. The move supports Covestro’s broader goal of climate-neutral production by 2035 and underscores the company’s commitment to sustainable practices and circular economy principles.

(PRESS RELEASE) LEVERKUSEN, 19-Feb-2025 — /EuropaWire/ — Covestro, a leading supplier of high-tech polymer materials, has successfully reached net-zero Scope 2 electricity emissions at four of its U.S. production sites, thanks to its virtual Power Purchase Agreement (vPPA) with Ørsted, a global leader in renewable energy. This achievement reflects the company’s commitment to sustainability, leveraging Renewable Energy Certificates (RECs) to offset its electricity consumption.

The sites in Channelview, Texas, South Deerfield, Massachusetts, New Martinsville, West Virginia, and Pittsburgh, Pennsylvania, have all contributed to Covestro’s goal of climate-neutral production. Notably, the facilities in South Deerfield, New Martinsville, and Pittsburgh have already achieved complete net-zero Scope 2 emissions, while the remaining certificates have been applied to the Baytown, Texas facility.

Thorsten Dreier, Covestro’s Chief Technology Officer, stated, “Despite the ongoing challenges in the market, we are steadfast in our ambition for climate-neutral production by 2035. Our strategy, which integrates circular economy principles, enables us to reduce our carbon footprint and lead the way toward a more sustainable industry.”

The collaboration with Ørsted, which delivers 90 MW of renewable energy capacity, plays a pivotal role in helping Covestro achieve its environmental goals. With this initiative, the company is set to reduce around 90,000 tons of CO2 emissions annually, marking a significant contribution toward their broader climate goals.

Samir Hifri, Chairman and President of Covestro LLC, commented on the partnership: “Our collaboration with Ørsted is a testament to how innovation and collaboration can bring about real change. We are proud to be leading sustainable practices within the chemical sector and are excited to continue advancing our growth strategy in the U.S. while maintaining our commitment to sustainability.”

This milestone announcement follows Covestro’s recent investments, totaling hundreds of millions of Euros, into U.S. facilities, reinforcing the company’s dedication to both growth and sustainability in the North American market.

About Covestro: 
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.

The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.4 billion in fiscal year 2023. At the end of 2023, the company had 48 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).

Find more information at www.covestro.us.
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Forward-Looking Statements 

This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Media Contacts:

Sirin Emre-Flender
Corporate Channels & Media Relations
sirin.emre-flender@covestro.com
+49 162 733 0374

Tina Stockhausen
Corporate Messaging & Content, Covestro
tina.stockhausen@covestro.com
+49 172 130 6043

Russell Glorioso
Head of U.S. External Communications
russell.glorioso@covestro.com
+1 412 413 2051
+1 724 799 0321

SOURCE: Covestro AG