Bayer AG
Bayer is a global enterprise with core competencies in the life science fields of healthcare and nutrition. We design our products and services to help people and planet thrive by supporting efforts to address the unprecedented global challenges presented by a growing and aging global population. At Bayer, we’re committed to drive sustainable development and generate a positive impact with our businesses. Through bold ideas and unprecedented insights, we’re pioneering new possibilities that advance life for all of us. That means reimagining how we care for ourselves and one another by empowering everyday health, improving approaches to patient care, and finding better ways to nourish our communities around the world.
Company details
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- Business Type:
- Manufacturer
- Industry Type:
- Pharmaceuticals
- Market Focus:
- Globally (various continents)
- Year Founded:
- 1863
- Employees:
- Over 1000
- Turnover:
- more than 1,000,000,000 €
This company also provides solutions for other industrial applications.
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Our Vision & Strategy
A growing and aging world population and the increasing strain on nature’s ecosystems are among the major challenges facing humanity. As one of the world’s leading companies in the fields of health and nutrition, we are able to play a key role in devising solutions to tackle these challenges. The COVID-19 crisis and Russia’s invasion of Ukraine have reminded us of the importance of health and nutrition and underlined our systemic relevance.
Guided by our purpose “Science for a better life”, we deliver breakthrough innovations in healthcare and agriculture. We contribute to a world in which diseases are not only treated but effectively prevented or cured, in which people can take better care of their own health needs, and in which enough agriculture products are produced while conserving our planet’s natural resources. That’s because at Bayer, growth and sustainability go hand in hand. In short, we are working to make our vision of “Health for all, hunger for none” a reality. Our strategy operationalizes our vision, as we look to achieve long-term profitable growth and make a positive contribution to society and the environment.
We focus on four strategic levers:
- We develop innovative products and solutions and leverage cutting-edge research to address unmet societal challenges. We are also continuing to drive the digitalization of our entire value chain.
- We drive the operational performance of our business by optimizing our resource allocation and cost base.
- Sustainability is an integral part of our business strategy, operations and compensation system. Through our businesses, we contribute significantly to achieving the United Nations’ Sustainable Development Goals (SDGs). We also pursue resolute, science-based climate action along our entire value chain.
- As a global leader in health and nutrition, we continue to develop our business. We create value with strategy-based resource allocation focused on profitable growth. We are active in regulated and highly profitable businesses that are driven by innovation and in which we have the objective to grow ahead of the competition.
Our Mission
Bayer is an innovation company with a long tradition of research. By applying science to the major global challenges, we deliver innovations that address unmet customer and market needs.
Our focus on innovation is the key to maintaining or gaining a leading position in every market in which we operate. It is also the foundation for improving the lives of many millions of people:
- We help patients around the world by preventing, alleviating and curing diseases as well as improving diagnosis.
- We ensure a sufficient supply of high-quality food, feed and fiber.
- We make significant contributions in the fields of energy and resource efficiency, mobility and home living – to name just a few.
- By working sustainably and accepting our role as a socially and ethically responsible corporate citizen – and by committing to our Bayer values – we create benefits for the communities in which we live.
Science For A Better Life: this is the promise we all give to our stakeholders.
Our Values
Our vision 'Health for all, Hunger for none' with its focus on innovation and sustainability as a leading life science company is based on values and behaviors that enable our employees to fulfill our purpose of 'Science for a Better Life'. Our four LIFE values - leadership, integrity, flexibility and efficiency - are each represented by three attributes that define what is expected of everyone at Bayer. To ensure that we meet current societal expectations and create value for all stakeholders through our business activities, Bayer enacts the Bayer Societal Engagement (BASE) Principles. They represent our guiding principles and form the basis for our activities.
Our corporate culture is built on our LIFE values, which are firmly anchored in our company and provide us with guidance in our daily work. LIFE stands for Leadership, Integrity, Flexibility and Efficiency.
Everything we do is aligned with these values.
Sustainability
Contributing to sustainable development is a core element of Bayer’s corporate strategy and of our core values. Guided by our vision “Health for all, Hunger for none”, we promote inclusive growth and a responsible use of resources to help people and planet thrive.
Key Topics of Our Strategy
Inclusive growth means we’re providing more people in all the regions of the world with access to health care and food security and devising solutions to environmental protection, esp. decarbonization, climate adaptation, and biodiversity preservation. Our products, services and innovative prowess enables us to contribute significantly toward meeting the United Nations’ Sustainable Development Goals with regard to combating hunger (Goal 2) and providing health care (Goal 3). Our work also helps the fight against poverty (Goal 1). In addition, we are sharpening our focus on empowering women (Goal 5),working on the availability and sustainable management of water for all (SDG 6), redoubling our efforts to reduce greenhouse gases along our value chain and build resilience towards the impacts of climate change (Goal 13) and protecting life on land (Goal 15).
Sustainability – part of our corporate strategy
A growing and aging world population and the increasing burden on ecosystems are among the biggest challenges humanity is facing. As the world’s leading healthcare and nutrition company, Bayer can contribute more than any other enterprise to solving these global challenges through its businesses: with our activities and our products, we help to sustainably improve farming and access to nutrition and healthcare – and thus people’s lives. At the same time, we are reducing our own ecological footprint and that of the agricultural industry.
Basis of our strategic and normative compass
For us, sustainability means more than just corporate responsibility – it safeguards Bayer’s future growth. Sustainability is therefore an essential component of our corporate strategy, our business activities, our corporate values and the way in which we operate our businesses. Sustainability is at the center of our corporate vision “Health for all, hunger for none” and comprises the following three core elements for all divisions:
- Inclusive growth and value added for society
- Reduction of our ecological footprint
- Responsible business practices along our value chain
We deploy our innovation power to develop sustainable solutions for the pressing problems of our time. For example, we have established sustainability criteria in our own research and development. Furthermore, we invest in disruptive life science technologies with our Leaps by Bayer unit and promote social innovations with our foundations.
Contribution to the Sustainable Development Goals
Our strategy is aligned to the global Sustainable Development Goals (SDGs) of the United Nations, the attainment of which is targeted for 2030.
The global community lags behind the goals in many areas, which is why the contributions of corporations are all the more important. We can have a significant impact owing to our portfolio, our global reach and our innovation power. In this context, we support particularly those Sustainable Development Goals where there is a pressing need to act and where we can make the greatest contributions through our businesses and their sustainable transformation.
Agriculture
In the area of agriculture and nutrition, our innovative products and services help to better feed a growing world population and end hunger (> SDG 2). We are targeting inclusive growth in low- and middle-income countries (LMICs). As farming is often the only source of income in LMICs, we also help fight poverty through our engagement with smallholder farmers (> SDG 1).
Through innovative solutions that promote sustainable, low-emission and resilient farming, we help to protect the climate, the environment and biodiversity (SDGs 13, 15). We also want to reduce the consumption of water resources (> SDG 6) in agriculture in the future.
Healthcare
In healthcare, we help to prevent and treat diseases through the businesses of our Pharmaceuticals and Consumer Health divisions. We reach people all over the world with our products and solutions. We align ourselves here also to the needs of people in LMICs, for whom we make existing products and services accessible and affordable. We systematically advance innovations and increase the resilience of our production and supply chains. In this way, we help to improve people’s health and well-being (> SDG 3).
Climate protection and improved resilience
Our decarbonization goals are in line with the Paris Climate Agreement. To achieve them, we implement extensive measures to fight climate change and its effects (> SDG 13). For example, we are reducing our own greenhouse gas emissions (Scope 1 & 2) and greenhouse gas emissions along our value chain (Scope 3). Our reduction goals were confirmed by the Science Based Targets initiative (SBTi). Furthermore, we endeavor to achieve a net zero greenhouse gas emissions target throughout our value chain by 2050. Our climate strategy comprises far-reaching measures.
We also help to increase Bayer’s own resilience and that of our customers against the effects of climate change. In addition, we develop transformative solutions that enable agriculture to emit fewer greenhouse gases and instead help to capture CO2. This makes agriculture an important enabler in the fight against climate change.