Covestro smart in its green approach
Smart materials company Covestro hopes to expand into sustainable development projects in China.
Richard Northcote, the firm’s chief sustainability officer, believes a decade of cooperation with the Tongji University in Shanghai, can help transform city landscapes.
Covestro, formerly known as Bayer Material Science and based in Germany, is heavily involved in automotive manufacturing, electrical engineering and construction.
“The fields we cover involve construction and transportation which all point to sustainable city development,” said Northcote.
The Frankfurt-listed company manufactures products such as coatings, adhesives and polyurethanes that are used in thermal insulation, electrical housings and even FIFA World Cup soccer balls.
Sustainable development has become a key part in Covestro’s business model.
“By 2050, one quarter of the world’s largest cities will be in China, and Covestro is exploring the role of smart materials to create sustainable urban communities through the Covestro-Tong ji Chair for Sustainable Development,” said Northcote.
He stressed that there were exciting growth opportunities in energy efficiency, urban development, electric vehicles and renewable energy projects here.
Innovation will also play a key role in planning for a sustainable future in major cities.
“We understand the role of innovation in driving sustainable business development and our collaboration with Tong ji through the cooperation,” said Northcote. “This offers a platform to develop a blueprint for modern sustainable urban communities.”
Covestro already has an integrated center in Shanghai which includes a sustainable nitric acid plant.
This facility tightly controls emissions, cutting down nitrous oxide (N2O) gases by 65 percent and nitrogen oxides (NOx) by 30 percent.
“There are real opportunities to implement new technologies much quicker in China,” said Northcote.
“The ability to move quickly, to grow partnerships, to license technologies and to see it implemented is easier here compared to Europe or America. China is really moving forward.”
The company and the UN have already launched a sustainability competition for environmental solutions from young entrepreneurs aged between 18 and 30.
On offer are six age group prizes of $15,000 each which will help “seed fund” the winning ideas.
“As I’ve seen time and again, when young people are given opportunities and support, they can be a powerful catalysts for change,” said Erik Solheim, UN environment executive director.
There are real opportunities to implement new technologies much quicker in China.” Richard Northcote, chief sustainability officer at Covestro
Contact the writer at wang_ying@ chinadaily.com.cn