Content and Structure

• Integrated BASF Report serves as U.N. Global Compact progress report
• Sustainability reporting in accordance with Global Reporting Initiative (GRI) standards
• Financial reporting according to International Financial Reporting Standards (IFRS), the German Commercial Code and German Accounting Standards (GAS)

The BASF Report combines the major financial and sustainability-related information necessary to comprehensively evaluate our performance. We select the report’s topics based on the following reporting principles: materiality, sustainability context, completeness, balance and stakeholder inclusion. In addition to the integrated report, we publish further information online. The relevant links can be found at the end of each chapter.

Our sustainability reporting has been based on GRI guidelines and standards since 2003. We have applied the “Comprehensive” option since the BASF Report 2017.

We have been active in the International Integrated Reporting Council (IIRC) since 2014 in order to discuss our experiences of integrated reporting with other stakeholders and at the same time, receive inspiration for enhancing our reporting. This report addresses elements of the IIRC framework by, for example, providing an illustrative overview of how we create value or demonstrating the relationships between financial and sustainability-related performance in the sections on the segments. The information in the BASF Report 2020 also serves as a progress report on BASF’s implementation of the 10 principles of the United Nations’ Global Compact and takes into consideration the Blueprint for Corporate Sustainability Leadership of the Global Compact LEAD platform.

The detailed GRI and Global Compact Index can be found in the online report. It provides an overview of all relevant information to fulfill the GRI indicators, as well as how we contribute to the United Nations’ Sustainable Development Goals (SDGs) and the principles of the U.N. Global Compact. The results of the limited assurance of this information can also be found there in the form of an assurance statement issued by KPMG AG Wirtschaftsprüfungsgesellschaft. We also publish additional information on sustainability in accordance with the industry-specific requirements (Chemicals Standard) of the Sustainability Accounting Standards Board (SASB).

The information on the financial position and performance of the BASF Group comply with the requirements of International Financial Reporting Standards (IFRS), and, where applicable, the German Commercial Code, German Accounting Standards (GAS) and the guidelines on alternative performance measures from the European Securities and Markets Authority (ESMA). Internal control mechanisms ensure the reliability of the information presented in this report. BASF’s Board of Executive Directors confirmed the effectiveness of the internal control measures and compliance with the regulations for financial reporting.

Material topics along the value chain form the focal points of reporting and define the limits of this report. We take three dimensions into account in identifying and evaluating material topics: the impact on BASF, the impact of BASF and relevance for our stakeholders.