Sustainability is firmly embedded into our strategy and organization. Sustainability management supports our strategic principle “We drive sustainable solutions” and follows our corporate purpose – “We create chemistry for a sustainable future.”
Responsibilities and standards
- BASF defines sustainability as balancing economic success with social and environmental responsibility, both today and in the future
- Strategic responsibilities: minimizing risks, taking advantage of business opportunities, establishing trust-based relationships with our stakeholders
BASF defines sustainability as balancing economic success with social and environmental responsibility. The conflicts of interest involved here challenge us to weigh varying concerns and find the best possible solutions.
We have strategically embedded sustainability into our company as a significant driver for growth. Our sustainability management has three responsibilities: Minimizing risks, taking advantage of business opportunities and establishing relationships with our stakeholders based on trust. We minimize risks by using our materiality analysis to identify relevant issues early on, and through operational excellence in our business processes. We set ourselves globally uniform standards for the environment, safety, security, health protection, product stewardship and compliance, as well as labor and social standards. We conduct internal audits on process and occupational safety as well as environmental and health protection. We review labor and social standards within the framework of a monitoring system. Ecological and social criteria are also relevant for us in the selection of our suppliers.
We take advantage of business opportunities by offering our customers innovative products and solutions that contribute to sustainable development. Our acclaimed instruments for sustainability evaluation are among the methods we employ. For example, we review our product portfolio to identify those products and solutions that contribute to sustainable development. In addition, we ensure that sustainability is integrated into the development and implementation of our business units’ strategies and research projects. Furthermore, we have integrated sustainability criteria into our processes for making investment decisions. We systematically evaluate the contribution to sustainability made by expenditures for property, plant and equipment as well as by investments in financial assets on a case-by-case basis.
More on the Responsible Care Management System
For more on monitoring labor and social standards, see
Labor and social standards