BASF earned an A- from the CDP in both water management and forest protection.
The non-profit organization CDP has ranked the multinational company BASF as one of the world’s leading companies thanks to its sustainable water management as well as forest and climate protection measures – receiving 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. 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,” has stated Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE.
The assessment drawn up by the CDP, with which BASF has collaborated since 2004, considers the transparency of emissions reporting, the management of risks and opportunities arising from climate change, the climate protection strategy and CO2 reduction measures. As a matter of fact, BASF has set itself the objective of reducing by 25%
the carbon emissions - for scope 1 and scope 2 - by 2030.
Taking into account 1990 as the reference year, this reduction would correspond to 60%.
In addition, BASF wants to reduce its emissions associated with the goods and services the company purchases from its suppliers, with the goal of decreasing its specific Scope 3 emissions by 15%. The company ultimately aims to achieve net-zero emissions by 2050.
After receiving an A rating last year, BASF earned an A- for water safety this year due to the new CDP guideline, which states that manufacturers of solutions containing hazardous substances cannot receive an A in the safety category water. BASF is introducing sustainable water management at all relevant production sites, including major Verbund sites and water-stressed areas. CDP's assessment also takes into account the transparency with which companies report on their water management activities and how they reduce risks of scarcity.
BASF ranked A- in forest protection, just as in past years. The assessment is based on detailed insights into the palm value chain, activities impacting ecosystems and habitats. Palm kernel oil and its primary derivatives are in fact among the company's most important renewable raw materials, which has pushed the company to source exclusively RSPO certified oils. Furthermore, BASF has declared its commitment to preserving biodiversity in areas of high conservation value, such as high-carbon forest areas and peatlands.