After being taken over by Abu Dhabi National Oil Company (Adnoc), the plastics group Covestro is getting a new chief financial officer from among its owner's ranks. The appointment is considered the first signal for a possible strategic realignment under Arab control. For the construction industry, this could become relevant in the medium term: Covestro supplies polyurethane insulation materials, binders and coatings – products with a high CO₂ footprint, whose decarbonization remains questionable under an oil company. Whether Adnoc will continue to pursue the announced sustainability goals or shift the focus to petrochemical value creation will become apparent in the coming quarters.
This article was created with AI assistance and editorially reviewed.