- BASF achieves “A-” rating for water management and forest protection
- Continued excellent “A-” ranking for climate protection despite stricter requirements
(PRESS RELEASE) LUGWIGSHAFEN, 13-Dec-2021 — /EuropaWire/ — BASF (ETR: BAS), world’s largest chemical producer, has announced that its activities in climate, water and forests have again been recognized by CDP in 2021. The company has ranked again among the world’s leading companies for its water management and forest and climate protection measures by the non-profit organization CDP (formerly the Carbon Disclosure Project) achieving an A- rating in all three important categories.
“We are proud that BASF has again been recognized as a global leader by CDP this year. This is a confirmation of our commitment to sustainability and demonstrates how deeply BASF’s activities to protect the climate, water and forests are anchored in our strategy,” said Dr. Christoph Jäkel, who heads BASF’s corporate sustainability unit.
BASF is introducing sustainable water management at all relevant production sites by 2030. This includes the major Verbund sites and sites in water stress areas. CDP assesses how transparently companies report on their water management activities and how they reduce risks, such as water scarcity. The assessment also takes into account the extent to which product developments can also contribute to sustainable water management at the customers of the companies assessed.
BASF was evaluated by CDP for the second time for its efforts to protect forests. BASF is aware of the importance of protecting forests for the well-being of the environment and society. As a player in various value chains, BASF is committed to ending deforestation in these supply chains. BASF has regularly reported on progress and collaboration along the value chain in its Palm Progress Report since 2016. In 2020, BASF exclusively sourced RSPO-certified sustainable palm (kernel) oil. BASF is also committed to expanding sustainable sourcing to include oleochemical palm and palm kernel derivatives and vegetable ester oils from 2025 at the latest. BASF has made additional progress in developing transparent supply chains: Almost 95 percent of the global palm oil footprint could be traced back to the oil mill.
BASF has been participating in CDP reporting on climate protection-relevant data since 2004, thereby providing relevant stakeholders with transparent information on its climate protection strategy and CO2 reduction measures. BASF has set itself the goal of achieving net zero CO2 emissions by 2050. Already by 2030, BASF aims to reduce its CO2 emissions by 25 percent compared to 2018. At the heart of the long-term emissions reduction is the use of new technologies that replace fossil fuels such as natural gas with electricity from renewable sources. Most of these technologies are newly developed by BASF and together with partners and are currently in the pilot stage. Widespread scaling up of these technologies will only be achievable in full after 2030. In order to reduce CO2 emissions at an accelerated pace even before then, BASF will continue to systematically implement continuous improvement processes for existing production plants. In addition, BASF has invested in renewable energy production facilities for self-supply in 2021 and has signed contracts to supply its sites with energy from renewable sources.
For more information, please visit our websites on sustainable water management, carbon management and sustainability rankings and ratings. For more information on CDP’s rankings and assessment methods, click here.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.
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SOURCE: BASF SE