By Dieter Holger

Bayer AG received independent confirmation that its greenhouse gas emissions targets are in line with Paris Agreement on climate change.

The Germany-based drug and agroscience company said Friday that its plan to cut emissions by 42% by 2029 earned approval from the Science Based Targets initiative, a nonprofit auditor that nearly 1,000 companies have joined.

Bayer said it is among more than 150 companies that have received approval from the United Nations-backed group.

Late last year, Bayer said it would achieve carbon neutrality by 2030 and tied the goal to the compensation of management.

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

(END) Dow Jones Newswires

August 21, 2020 05:33 ET (09:33 GMT)

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