Leadership status for BASF renewed by CDP
Sustainability

Leadership status for BASF renewed by CDP

BASF once again achieved an A- rating on CDP’s climate list and thus leadership status.

  • By ICN Bureau | February 12, 2024

BASF again rated as one of the world's leading companies

The non-profit organization CDP (formerly the Carbon Disclosure Project) has again ranked BASF as one of the world’s leading companies for its sustainable water management and forest and climate protection measures. BASF received an A- in all three categories.

“I am very pleased that BASF has once again been ranked as a global leader in sustainability by CDP,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE. “This shows that we have already achieved a great deal on our sustainability journey and at the same time reinforces our efforts to continue to pursue our sustainability goals with determination, even in a difficult environment.”

Climate change

BASF once again achieved an A- rating on CDP’s climate list and thus leadership status. BASF has participated in CDP’s program for reporting on data relevant to climate protection since 2004. Among other things, the assessment considers the transparency of emissions reporting, the handling of risks and opportunities arising from climate change, the climate protection strategy and CO2 reduction measures. BASF has set itself the goal of reducing its CO2 emissions (scope 1 and scope 2) by 25 percent by 2030 compared with 2018 – while growing production volumes. This corresponds to a reduction of 60 percent based on 1990 as reference year, which is used, for example, by the European Union and Germany for their target setting. By 2030, BASF also wants to reduce its emissions associated with the goods and services the company purchases from its suppliers. BASF aims to reduce its specific Scope 3.1 emissions by 15 percent compared with 2022 across the portfolio. The company aims to achieve net zero emissions by 2050 (Scopes 1, 2 and 3.1).

Water

After receiving an A rating last year, BASF was awarded an A- this year for water security. A reason for the downgrade is a new CDP guideline that stipulates that companies that manufacture products containing hazardous substances cannot receive an A in the water security category. 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’s assessment takes into account how transparently companies report on their water management activities and how they reduce risks such as water scarcity. CDP also evaluates the extent to which product developments can contribute to sustainable water management for customers of the companies assessed.

Forests

As in previous years, BASF was ranked A- for its efforts to protect forests. The assessment is based on detailed insights into the palm value chain and activities with an impact on ecosystems and habitats. Palm kernel oil and its primary derivatives are among the company’s most important renewable raw materials. BASF has once again fulfilled its voluntary commitment to source only RSPO-certified palm oil and palm kernel oil. The company is aware of the importance of protecting forests for the well-being of the environment and society. BASF’s position paper on forest protection sets out the company’s commitment to preserving biodiversity in areas of High Conservation Value such as High Carbon Stock forest areas and peatlands in the procurement of renewable raw materials. BASF reports transparently on these activities in its current Responsible Sourcing Report.

 

CDP represents more than 740 investors with over $136 trillion in assets. More than 330 companies with $6.4 trillion in purchasing power ask their suppliers to participate in CDP reporting. CDP data is also used in other assessments by leading rating agencies. CDP scores are awarded annually on a scale from A (best result) to D-. Companies that provide no or only insufficient information are marked with F


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