Category Archives: News

Steel Scrap Demand to Rise Sharply as India Expands Capacity, Says DayaNidhan Pandey at IMRC 2026

India’s Demand for Steel Scrap To Increase Sharply On Capacity Expansion; Shri. DayaNidhan Pandey, Joint Secretary, Ministry of Steel at IMRC 2026 in Jaipur

Jaipur, Jan 21:“Scrap currently contributes nearly 21% of India’s crude steel production, compared to a global average of around one-third. While the scrap consumption in the Indian steel sector has been rising, the scrap availability is estimated to rise to nearly 36 million tonnes,which clearly indicates that demand for steel scrap will increase sharply as large-scale capacity expansion continues,” said Shri Daya Nidhan Pandey, Joint Secretary, Ministry of Steel, addressing the inaugural session of the 13th International Material Recycling Conference and Exposition (IMRC 2026) at Jaipur today.

Referring to policy measures, Pandey said,

“The Government has taken coordinated action through the Steel Scrap Recycling Policy 2019, the Vehicle Scrappage Policy, the rollout of Registered Vehicle Scrapping Facilities, and the integration of scrap management with national circular economy initiatives. Recently notified Extended Producer Responsibility (EPR) mandates for end-of-life vehicles and construction and demolition waste are expected to accelerate formal scrap recycling.”

Looking ahead, Pandey said, “India aims to progressively raise the share of scrap in steelmaking towards the global average of 31%. As the country moves towards 300 million tonnes of steel capacity by 2030 and 500 million tonnes by 2047, steel scrap will play a decisive role in conserving raw materials, reducing coal imports, lowering emissions, and supporting India’s commitment to achieve net zero by 2070.”

Shri. Pandey affirmed India’s positioning in scrap – based steel making as a booster to its decarbonisation efforts, as it helps to avoid carbon emission and also substitutes iron ore, coking coal. As India is targeting 300 million tonnes of crude steel capacity by 2030-31, the recycled steel scrap consumption will gain a momentum. “

Highlighting operational challenges, Shri. Sanjay Mehta, President, MRAI, stressed the urgent need for policy rationalisation.

“The recycling industry needs GST on scrap to be reduced to 5%, as current high rates are hurting growth and pushing the sector into non-compliance. Further, the import duty on aluminium scrap needs to be fully removed. Extended Producer Responsibility across e-waste, tyres and plastics must also be implemented more effectively, as weak enforcement is undermining the recycling value chain,” he said.

Emphasising the social dimension of recycling, Shri. Mehta added that nearly one-third of scrap in India originates from ragpickers, households and small workshops.

“Lower GST and routing scrap purchases from the unorganised sector through UPI-based transactions, while discouraging cash at the first level of collection, will help bring these workers into the formal economy with dignity and sustainability,” he said.

Speaking on the evolving industry landscape, Shri. Dhawal Shah, Senior Vice President, MRAI, said that recycling in India has decisively transitioned from a CSR-driven activity to a core business strategy.India today had more than 1400 start-ups operating across waste management and sustainability. At this pace, the recycling industry could surpass mining well before 2050, reflecting the scale, confidence and long-term opportunity emerging across the sector.”

Shri. Zain Nathani, Vice President of MRAIcalled India’s recycling industry to be a game changer and the Government’s duty rationalisation impetus would further help. Shri. Amar Singh, Secretary General of MRAI mentioned that the Indian recycling industry has seen a transition and poised to take further leaps with enhanced contributions in the GDP.

Shri. Rajat Agarwal, Managing Director of Gravita India Limited, while addressing the role of finance and global capital stresses that  capital was no longer a constraint for responsible recyclers. He said, “Global green funds and ESG-focused investors are actively backing scalable recycling platforms that deliver both financial returns and environmental impact. Recycling today sits at this powerful intersection.” He added that with strong governance, supportive policies such as EPR, and India’s circular economy vision, Indian recyclers are now globally competitive climate-solution providers.

Organised by the Material Recycling Association of India (MRAI), the three-day conference is being held from January 20–22, 2026, at the Novotel Jaipur & Convention Centre, Jaipur, and brings together policymakers, industry leaders, and global stakeholders to discuss recycling’s role in sustainable industrial growth.

The conference opened with discussions on sustainability, climate change, energy storage and circular economy transitions, while also addressing long-standing industry concerns around regulatory clarity and market stability.

During the inaugural session, Lifetime Achievement Awards were presented to Jinesh Shah, Director, Rajhans Impex Pvt. Ltd.; Purshottam Parolia, CMD, Nihon Ispat Pvt. Ltd.; and Hitesh Shah, Chairman, Mono Steel (India) Limited. The Global Recycler of the Year Award was conferred on Anshul Gupta, Chairman, PAN Gulf IInternational.

Subway India reaches Historic Landmark of 1,000 stores

Bangalore, Jan 20 : Subway, one of the world’s largest quick service restaurant brands in freshly made-to-order, customisable sandwiches, announced the opening of its 1,000th store in India at Paras Florett, Gurugram. This historic milestone reflects the brand’s strong growth across the country. With an average of two new stores opening every week over the last three years, it is among the fastest-growing premium quick service restaurant brands in India.

Operated by EverBrands (part of Everstone Group), Subway India has in the last three years, opened 350+ stores in new locations in its network, expanding its footprint into over 165 cities with 3,500+ employees. Since its entry into the Indian market in 2001, Subway India continues to rank among Subway’s top global growth markets, encouraged by rising demand for fresh, customisable, value-driven food offerings.

Subway’s rapid expansion has been supported by a consistent evolution of its menu offerings including the value-oriented Sub Cravers range starting at INR 79, indulgent range Hot & Cheesy Signature Subs, Fresh Salads with 1.5x protein, and an innovative all-day Breakfast range, catering to the fast-paced Indian lifestyle. The Signature Rice Bowls offering a new range of flavours and customisable options designed with the Indian palette in mind, are the most recent addition to the already vibrant Indian menu. These offerings represent Subway’s ethos of adaptation to dynamic consumer preferences.

Tarun Bhasin, CEO, Culinary Brands (Subway India) remarked,

“This is a defining moment in time for Subway India’s growth trajectory and reflects the increasing scale of the brand’s ‘Better for You’ menu positioning across India. We are very grateful to our customers for their trust. I would also like to thank the thousands of Sandwich Artists and the great team working relentlessly across our stores, delighting customers every day. We look forward to the next 1,000!”

Eastern Coalfields Limited Conducts 64th Corporate-Level Tripartite Safety Committee Meeting

Sanctoria, Jan 20: Eastern Coalfields Limited successfully convened its 64th Corporate-Level Tripartite Safety Committee Meeting at the Dishergarh Officers’ Club, Sanctoria, reaffirming the organization’s unwavering commitment to occupational safety, health and welfare in mining operations.

The meeting was attended by ECL’s top management, including Shri Satish Jha, Chairman-cum-Managing Director; Md. Anzar Alam, Director (Finance); Shri Niladri Roy, Director (Technical/Operations); Shri Gunjan Kumar Sinha, Director (HR) and Shri Girish Gopinathan Nair, Director (Technical/Planning & Projects). The deliberations were further enriched by the presence of Shri Supriyo Chakraborty, Deputy Director General, representing the Directorate General of Mines Safety (DGMS), Eastern Zone.

The proceedings were presided over by Shri Binod Singh, Corporate Safety Board Member and representative of CMSI (CITU). Corporate Safety Board Members representing major trade unions—CMS (AITUC), WBKMS (UTUC), CMC (HMS), and KSC (BMS)—also participated. Senior officials from ECL HQ, all Area General Managers, Area Safety Officers and officers from DGMS (Eastern and Central Zones) took part, reflecting the strong spirit of tripartite collaboration.

The Committee deliberated on a wide range of critical safety issues, including enhancement of safety awareness through structured safety talks; strengthening of safety monitoring mechanisms; integration of advanced safety features in mining equipment and winding installations; expeditious conversion of steam winders to electrical winders with fail-safe technology; provision of statutory manpower; improvement of mine ventilation systems; identification and fast-tracking of man-riding systems; slope stability monitoring; and stowing lag. Emphasis was laid on developing comprehensive short-term and long-term action plans to ensure effective implementation and continuous improvement in safety performance across ECL’s mining operations.

The meeting concluded with a collective resolve by all stakeholders to work in close coordination towards fostering a safer, healthier, and more secure working environment for both regular and contractual workmen, thereby reinforcing ECL’s steadfast commitment to Zero Harm and sustainable mining practices.

Herbalife India Flags Off All-Women E-Auto Fleet in Mysuru, Powering Green Mobility Revolution

 Herbalife India, a premier health and wellness company, community, and platform, in partnership with Shishu Mandir, today launched the Mysuru chapter of its flagship ECO Wheels Women’s Initiative. The event flagged off 75+ electric autos driven by women, kicking off the “Her Route, Our Future” movement and year-long “Green Mysuru, Clean Mysuru” campaign to promote green mobility and economic independence.

The launch took place in the presence of Uday Prakash, VP of Strategy and Implementation at Herbalife India; T.S. Srivathsa, MLA of Krishnaraja Constituency, Mysuru; Shri Anand C, Director, Shishu Mandir; Smt. Seema Latkar, I.P.S., Commissioner of Mysuru City Police and other distinguished dignitaries. The initiative empowers marginalized women with e-autos, driving training for local terrains, licensing, maintenance, digital tools, financial literacy, self-defense, and market linkages.

Uday Prakash, Vice President – Strategy and Implementation at Herbalife said, 

“At Herbalife, we’re deeply inspired by the ECO Wheels Women’s Initiative, which embodies our commitment to sustainable progress and shared prosperity. Following Bengaluru’s remarkable success, this expansion to Mysuru is transforming lives by equipping these women with vital skills and the confidence to thrive. They’re not just driving electric autos; they’re steering their families and communities towards a brighter, greener future.”

Building on the success of Bengaluru’s ECO-Wheels initiative, which enabled 115 women beneficiaries to increase their monthly incomes from ₹10,000 to ₹30,000 and positively impacted over 750 individuals and the wider community through a zero-emission mobility model, Herbalife India in partnership with Shishu Mandir is now scaling the program to Mysuru as Phase 2.

The next phase will focus on high-demand transport routes, accelerating the adoption of clean mobility while creating sustainable livelihoods. The expansion is projected to deliver impact equivalent to planting around 1.4 lac trees over five years, aligning with the Government of India’s FAME-II objectives. Over a five-year period, the Mysuru rollout is expected to generate a cumulative income of ₹50 crore for all women beneficiaries, reinforcing Herbalife India’s commitment to inclusive growth, women’s empowerment, and environmental stewardship.

Addressing the gathering Shri. Seema Latkar, I.P.S., Commissioner, Mysuru City Police said

“As Commissioner of Mysuru City Police, I have seen firsthand how economic independence transforms the lives of women and makes our communities safer and more resilient. The Eco-Wheels Women’s Initiative is a commendable step toward enabling women to take charge of their futures while contributing to greener, cleaner urban mobility. Mysuru Police extends its full support to such initiatives that champion equality, inclusion, and social progress.”

Shri Anand C, Director, Shishu Mandir, added 

“For over three decades, Shishu Mandir has worked to create dignified, scalable livelihood opportunities for underserved communities. Eco-Wheels has grown from a mobility program into a movement of confidence and self-reliance. With the Mysuru launch, we are enabling more women and transgender individuals to claim their rightful place as independent earners and respected contributors to society.”

Bandhan AMC CEO Highlights FoF Route as Smarter Way to Invest in Gold and Silver

Tata AIA Life Makes Long-Term Savings Easier with Premium Offset and Guaranteed Income Options

Bangalore, Jan 20: Saving for the future is something most people want to do—but sticking to a long-term savings plan can often feel difficult. Rising household expenses, changing priorities, and the pressure of paying premiums year after year can make long-term commitments hard to sustain. To make saving simpler and more affordable, Tata AIA Life Insurance has enhanced its long-term savings plan, Fortune Guarantee Supreme*, with features that ease the financial burden while offering guaranteed returns.

Sharing the Responsibility of Saving with the ‘Premium Offset’ feature

At the heart of this enhancement is Tata AIA’s unique ‘Premium Offset’ proposition. Under this feature, customers pay premiums only for the first six years of a 12-year premium-paying term, and can choose to offset the remaining six premiums with the income benefit offered by Tata AIA. This offset structure allows customers to stay invested for the long term without the pressure of paying premiums throughout the entire term. By reducing the out-of-pocket commitment, the plan lowers the barrier to disciplined saving—especially in an environment where costs and taxes often make long-term financial commitments feel overwhelming.

Commenting on the enhancement, Sujeet Kothare, Chief of Products, Marketing, Corporate Communications & Business Mid Office, Tata AIA Life Insurance, said:

“Many consumers want to save for the long term but hesitate because the commitment often feels heavy and difficult to sustain—especially with rising costs and taxes. With the strengthened Fortune Guarantee Supreme, we are changing this experience by sharing the responsibility of saving with our customers. The premium offset proposition, combined with guaranteed income options, is designed to make disciplined saving simpler, more predictable, and easier to sustain over time.”

Clarity, Certainty, and Confidence with the ‘Power of 6’

Fortune Guarantee Supreme also offers customers the option to receive a guaranteed income and other guaranteed benefits with an attractive Internal Rate of Return (IRR) upwards of 6%, subject to policy terms and conditions. This feature, known as the ‘Power of 6’, is designed for individuals seeking certainty and regular income in the future—whether to support post-retirement needs, long-term family goals, or financial stability during later life stages.

The “Power of 6” variant strengthens the company’s focus on dependable long-term solutions by offering customers an attractive guaranteed of 6% IRR. Built for individuals planning for life goals such as children’s education, retirement, and income security, the variant combines assured returns with life insurance protection to deliver greater confidence in financial planning.

Designed for Long-Term Security

As an individual, non-linked, non-participating life insurance savings plan, Fortune Guarantee Supreme provides guaranteed benefits along with life cover throughout the policy term—ensuring continuity and financial protection even in unforeseen circumstances. Eligible premiums continue to qualify for tax benefits under Section 80C, while maturity and death benefits are exempt under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.

With these enhancements, Tata AIA Life Insurance aims to help consumers move beyond hesitation and cost-related concerns—empowering them to commit to long-term savings with greater ease, confidence, and clarity.

Niyo’s Vinay Bagri Calls for Budget 2026 Focus on Efficient, Transparent Global Spending

By:-  Vinay Bagri, CEO & Co-Founder, Niyo

“As Indians spend more money beyond borders for travel, education and work, we believe the focus in Budget 2026 should shift from just transaction limits to spending efficiency. While LRS limits often dominate the conversation, the bigger issue for consumers is the silent cost of foreign exchange markups that inflate overseas expenses. Simplifying international payment processes, reducing TCS on legitimate foreign transactions, and continuing to encourage digital banking innovation will go a long way in making global spending more transparent and accessible. A stable policy environment and close collaboration between regulators and fintechs can help empower Indian travellers and support responsible growth across the cross-border fintech ecosystem.”

Mumbai Climate Week Flags off  Community-Led, Gender-Responsive Climate Planning as the Future of Local Climate Action

Mumbai, Jan 20: Mumbai Climate Week (MCW) today underscored the critical importance of community-led and gender-responsive climate action with the launch of a pioneering district-level climate planning initiative in Raigad, Maharashtra. The three-year pilot project aims to embed gender justice, indigenous knowledge, and grassroots leadership into climate governance, setting a replicable model for districts across the state and beyond.

The initiative was formally launched during the two-day national seminar, “Pathways to Gender-Responsive Local Climate Action and Justice: Localizing SDGs, Decolonizing Governance, Indigenizing Knowledge,” held as part of the 90th-year Navati celebrations of the Tata Institute of Social Sciences (TISS). The seminar also served as a curtain-raiser to Mumbai Climate Week 2026, scheduled from February 17–19, 2026.

The project is being led by TISS in partnership with the Maharashtra State Climate Action Cell (SCAC), Asar Social Impact Advisors, Waatavaran Foundation, and the Policy & Development Advisory Group, with support from the University of Toronto India Foundation. Together, the partners highlighted the urgent need to localise climate action by centring communities most affected by climate change.

The Raigad Climate Action Planning initiative was inaugurated by Shri Abhijit Ghorpade, Director, State Climate Action Cell, and aims to strengthen district-, village-, and Panchayat-level climate planning processes in alignment with Maharashtra’s SAPCC 2.0.

Speaking at the inauguration, Shri Shishir Joshi, Founder, Mumbai Climate Week, said:

“Climate action in India cannot succeed if it remains confined to policy rooms and global summits. Real solutions will emerge from districts, villages, and communities—especially from women and indigenous groups who experience climate impacts first-hand. The Raigad initiative reflects the spirit of Mumbai Climate Week: localising climate action, democratising decision-making, and building models that are just, inclusive, and scalable.”

Echoing this emphasis on inclusion, Prof. M. Mariappan, Officiating Vice Chancellor, TISS, said:

“Women play a critical role in building resilience and shaping adaptation efforts, often drawing on deep community knowledge and care practices. Climate action planning must therefore centre community voices while also addressing structural inequalities. TISS remains deeply committed to just and inclusive approaches to such planning.”

Mumbai Climate Week 2026 will continue to amplify such locally rooted climate solutions, creating a platform where policymakers, practitioners, researchers, and communities can collectively shape the next phase of India’s climate journey.

Climate change is not only an environmental challenge but also a social and economic one, disproportionately affecting women, tribal populations, and marginalised communities. By prioritising participatory planning, this initiative moves beyond top-down climate frameworks and reimagines governance through lived experiences and indigenous knowledge systems.

The seminar highlighted the need to integrate climate justice into development planning, ensuring that climate action plans are not only technically sound but also socially equitable.

Key Highlights of the Seminar:

• Launch of the Raigad Climate Action Planning Project: Training Village Development Committees and integrating SDGs into Panchayat Development Plans.
• Conference of Panchayats – COP of the Global South: A counter-narrative to global COPs, featuring Gram Sevaks and local leaders discussing decentralised climate governance.
• Documentary Screening: “Climate Resilience: Life as Told by Women” (58 mins), showcasing women-led climate adaptation practices in Kerala’s coastal regions.

“Young chefs are torchbearers of India’s culinary heritage,” says Shri Gajendra Singh Shekhawat

Symbiosis School of Culinary Arts and Nutritional Sciences, Pune emerged as the Winner of the maiden PHDCCI National Young Chef Competition (NYCC) 2025-26, while teams from Maharashtra State IHMCT and IHM Pusa, New Delhi were declared the 1^st Runner-Up and 2^nd Runner-Up respectively, at the Grand Finale held on 19 January 2026 at the Institute of Hotel Management, Pusa, New Delhi. The award for the Best Bhaja Dish was conferred upon the team from Chef’s Kitchen Institute of Culinary Arts and Hotel Management, Kolhapur.

The Grand Finale witnessed participation from 10 leading hospitality institutions representing all four zones of the country, including Asian Christian Culinary & Agricultural Science Institute, Hosur; Chef’s Kitchen Institute of Culinary Arts and Hotel Management, Kolhapur; Culinary Academy of India, Hyderabad; IHM Bhubaneswar; IHM Kolkata; IHM Kufri; IHM Pusa, New Delhi; IHM Hyderabad; Maharashtra State IHMCT, Pune; and Symbiosis School of Culinary Arts and Nutritional Sciences, Pune, underscoring the pan-India character of the competition.

The finalists were evaluated by an eminent jury comprising Chef Nand Lal Sharma, Deputy General Manager, Himachal Pradesh Tourism Development Corporation; Chef Debjeet Majumdar, Consultant Chef & Co-Founder, Passion 4 Hospitality; Chef Nitin Shende, Professor – Food Production, GIHMCT Nagpur; Chef Srinivas V, Executive Chef, Travel Food Services; and Chef M. Prabu, Joint Registrar, Dr. M.G.R. Educational and Research Institute, under the chairmanship of Chef Anil Grover, Certified WorldChefs Judge.

Gracing the occasion as the Chief Guest, Shri Gajendra Singh Shekhawat, Hon’ble Minister of Tourism and Culture, Government of India, said,

“Indian cuisine is among our most powerful cultural assets and a vital pillar of tourism-led growth. Our food traditions reflect the diversity, wisdom and lived heritage of our regions and our young chefs are the torchbearers of this legacy. He noted that rapid urbanisation and changing consumption patterns present Indian chefs with a unique opportunity to lead innovation in value-added, nutritionally balanced, and ready-to-eat food solutions rooted in India’s traditional knowledge systems. Platforms like NYCC are essential in nurturing chefs who are deeply rooted in tradition, yet globally confident and capable of representing India’s culinary excellence on the world stage.”

Organised by PHDCCI in partnership with the Ministry of Tourism, Government of India; Indian Federation of Culinary Associations (IFCA); and Tourism & Hospitality Skill Council (THSC), the National Young Chef Competition marked the culmination of a six-month nationwide culinary journey celebrating India’s rich gastronomic heritage while creating a focused national platform for Indian cuisine.

Welcoming the delegates, Mr. Anil Parashar, Chair – Tourism & Hospitality Committee, PHDCCI, said,

“NYCC was envisioned not merely as a competition, but as a national movement to restore pride in Indian cuisine among young professionals. By providing a credible, national platform, we are encouraging students to rediscover their regional food traditions and reinterpret them with contemporary relevance. The overwhelming response from institutions across India validates the relevance and timing of this initiative.”

The Steering Committee of NYCC comprised Chef Manjit Gill, President, IFCA; Chef Anil Grover, Certified WorldChefs Judge; Chef Sudhir Sibal, Founder Member, IFCA; Mr. Rajan Bahadur, CEO, Tourism & Hospitality Skill Council; Prof. Kamal Kant Pant, Principal, IHM Pusa; and Mr. Amarjit Singh Ahuja, Director – Procurement, Le Meridien New Delhi.

Delivering the theme address, Chef Manjit Gill, President, IFCA and Chair of the NYCC Steering Committee, said,

“Indian cuisine is not merely a collection of recipes; it is a philosophy shaped by history, science and cultural memory. Before innovation comes understanding. NYCC encourages young chefs to respect the roots of Indian cooking and then reinterpret them with honesty, skill and responsibility. This is how we safeguard our culinary identity while preparing chefs for global kitchens.”

Mr. Rajan Sehgal, Co-Chair – Tourism & Hospitality Committee, PHDCCI, stated,

“NYCC is a strong example of what collaboration between industry, academia and government can achieve. When young talent is supported through mentorship, national exposure and fair evaluation, it results in confident, employable and future-ready professionals.”

The Grand Finale followed an intense live cook-off format, challenging participants to prepare a traditional Bhojan comprising a bhaja preparation, main dish, vegetable preparation, pulses preparation, curd preparation, rice or bread preparation and a sweet dish within two and a half hours, with evaluation based on technique, authenticity, innovation, sustainability and presentation. 

Presenting a brief on the NYCC journey and outlining the vision ahead, Ms. Shalini S Sharma, Assistant Secretary General, PHDCCI, said,

“From the curtain raiser to four zonal rounds across North, East, West and South India, NYCC has engaged over 100 hospitality institutions nationwide. Our vision is to scale NYCC into a sustained national platform that identifies talent, provides structured mentorship, industry integration and positions young Indian chefs confidently on global culinary platforms.

Proposing the formal vote of thanks, Ms. Meena Bhatia, Co-Chair – Tourism & Hospitality Committee, PHDCCI, said,

“The successful culmination of the first edition of NYCC reflects the collective commitment of government, industry, academia and our young chefs. PHDCCI remains firmly committed to institutionalizing NYCC as a flagship national initiative and expanding its impact in the years ahead.” 

NYCC was supported by leading industry partners including TATA Consumer Products, Lee Kum Kee, Nestle Professional, Cremica Food Industries, Venus Industries, Hospitality & Kitchen Solutions (HAKS),Hilton, Roseate hotels and resorts, Wagh Bakri Tea Group, Welbilt India, McCain Foods, Chefs Unlimited, Le-meridian, New Delhi and Purchasing Professional Forum India (PPFI), whose continued engagement underscores strong industry confidence in the initiative.

Covestro recognized as a Leading Employer in China for eight straight years

Covestro is pleased to announce that it has been recognized as a Top Employer in China for 2026 by the Top Employers Institute, marking the eighth consecutive year the company has received this honor. This recognition underscores Covestro’s continued commitment to world-class human resources practices that foster a high-performing workplace and strengthen employee engagement.

“This recognition reflects our unwavering commitment to our people at a time of change and transformation,” said Holly Lei, President of Covestro China. “We continue to invest in creating an environment where our employees can thrive, innovate, and contribute to making the world a brighter place.”

The Top Employers Institute, a global authority in HR certification, benchmarking and advisory services, certifies organizations based on the results of its comprehensive HR Best Practices Survey. In the latest assessment, Covestro excelled in areas including work environment, wellbeing, diversity, equity and inclusion, as well as digital HR. The following examples highlight selected key HR practices that contributed to this recognition:

• Employee reward and recognition initiative: Launched in 2020, Covestro China’s Five-Star Employee and Team Awards recognize individuals and teams who exemplify the company’s core cultural behaviors. By 2025, more than 40 employees and about 80 teams had been honored, with their stories shared across internal channels to reinforce values-driven behaviors and boost morale.
• Personalized learning and development: Introduced in 2025, the C-Pro program connects employees with internal experts through informal one-on-one exchanges to support employees’ personal growth and strengthen the self-driven learning culture. Supported by an AI-powered matching assistant, the pilot engaged over 300 employees within six months and achieved an exceptional net promoter score of 98.
• AI-powered HR support: Covestro’s intelligent HR assistant, built on the company’s Covestro Virtual Assistant platform, provides employees with instant 24/7 access to HR solutions, process guidance and personalized career coaching—all through natural language conversations. For example, by simulating realistic workplace scenarios, this AI assistant enables employees to practice and prepare for challenging discussions with managers or colleagues. Such comprehensive support empowers employees to efficiently manage their HR needs and advance their careers, setting a new standard for workplace support.

Beyond China, Covestro was also recognized as a Top Employer for 2026 in Germany and the U.S., demonstrating the company’s global commitment to HR excellence.