- BASF Report 2010 integrates our financial and sustainability reporting
- Report serves as a progress report for the United Nations Global Compact
- Financial reporting is based on requirements of International Financial Reporting Standards, German Commercial Code and German Accounting Standards
- Sustainability reporting follows guidelines of the Global Reporting Initiative
- Dialogue with sustainability experts and stakeholders regarding relevant topics
- Our information and bases for calculation are in accordance with international standards for financial and sustainability reporting
- Data collection on environmental protection and safety follows the recommendations of the European Chemical Industry Council (CEFIC)
- Report includes relevant information available up to the editorial deadline of February 23, 2011
Content and structure
This report combines our financial and sustainability reporting and is addressed to readers interested in both areas. The reporting of the BASF Group is complemented by our short report BASF in Brief 2010.
In addition to the publication of this integrated report, we publish information on sustainability topics online. To find out more about these topics on our website, follow the links listed in the different chapters of this report.
The information in the BASF Report 2010 also serves as a progress report on the implementation of the ten principles of the United Nations Global Compact. The symbol indicates information that is relevant to the principles of the Global Compact. These topics are listed in the .
United Nations Global Compact
The information on the financial position and performance of the BASF Group is based on the requirements of International Financial Reporting Standards (IFRS), and, where applicable, the German Commercial Code as well as the German Accounting Standards (GAS). After delisting from the NYSE, we have retained a modified form of the control system for financial reporting based on the guidelines of the Sarbanes-Oxley Act. Internal control mechanisms ensure the reliability of the information presented in this report. BASF’s management confirmed the effectiveness of the internal control measures and compliance with the regulations for financial reporting.
Our sustainability reporting is aligned with the international guidelines (G3) of the Global Reporting Initiative (GRI). We want to identify and evaluate sustainability issues relevant for BASF at an early stage. To do so, we work with experts and use our materiality analysis to analyze sustainability issues. Our aim is to develop strategies well in advance for dealing with potential opportunities and risks. In 2010, we updated the analysis again and portrayed the results in a materiality matrix which considers the degree of societal interest as well as the significance of these issues for BASF. We used this analysis as the basis for identifying key topics for the report.
All information and bases for calculation in this report are based on national and international standards for financial and sustainability reporting. All of the data and information for the reporting period were sourced from the responsible units using representative methods. The reporting period was the financial year 2010. BASF Group’s reporting includes BASF SE, the parent company, with its headquarters in Ludwigshafen, Germany, as well as all of its material subsidiaries. All financial performance indicators include the effects of the acquisition of the Cognis group from the closing date on December 9, 2010. The effects of Cognis on non-financial performance indicators will be included in our reporting for 2011. All employees of the BASF Group as of December 31, 2010, including the employees of the Cognis group, are represented in the information contained in the chapter Employees unless otherwise indicated.
Our data collection methods for environmental protection and occupational safety are based on the recommendations of the European Chemical Industry Council (CEFIC). In the area of emissions and energy, we report on approximately 98% of all emissions from our production sites worldwide. The emissions of joint venture companies are included pro rata, based on our stake. We compile information on work-related accidents at all our sites worldwide. Accidents at joint venture sites are compiled and reported in full. Further data on social responsibility apply to all consolidated group companies, unless otherwise indicated.
To make this report as current as possible, we have included relevant information available up to the editorial deadline of February 23, 2011. The report is published each year in English and in German.
More on emissions see