BASF Report 2022

Content and Structure

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

The information on the financial position and performance of the BASF Group comply with the requirements of the International Financial Reporting Standards (IFRS) and, where applicable, the German Commercial Code (HGB), 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.

We have reported on our sustainability performance in accordance with Global Reporting Initiative (GRI) guidelines and standards since 2003. The information contained in this report also serves as a progress report on BASF’s implementation of the 10 principles of the U.N. Global Compact. The 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 and shows how we contribute to the United Nations’ Sustainable Development Goals (SDGs) and the principles of the U.N. Global Compact. KPMG AG Wirtschaftsprüfungsgesellschaft has performed an independent limited assurance of the disclosures in the GRI Index. The results of this assurance are also available in the online report in the form of an assurance statement. We also publish online additional information on sustainability in accordance with the industry-specific requirements of the Sustainability Accounting Standards Board (SASB).

BASF’s Report addresses elements of the framework of the former International Integrated Reporting Council (IIRC). This framework and the SASB’s industry-specific requirements are now being incorporated into the work of the International Sustainability Standards Board (ISSB) to develop internationally recognized standards for sustainability reporting. The frameworks help us illustrate the impacts of our actions and explain how we create value for the environment, society and business (see How We Create Value). Our involvement in networks and in national and international standard-setting bodies gives us the opportunity to share our experiences of integrated reporting with stakeholders and at the same time, give and receive inspiration for enhancing our reporting.

Material topics along the value chain form the focal points of our reporting and define the limits of this report. In identifying, prioritizing and validating material topics, we are guided by the principle of double materiality, taking into consideration financial materiality and impact materiality. General information on the materiality analysis can be found under “Our Sustainability Concept”. The material topics are explained in this report in the “Material Topics in Focus” sections.

For more information on our sustainability reporting, see:

Global Compact, IFRS Sustainability Alliance and Global Reporting Initiative (logos)
Value chain
A value chain describes the successive steps in a production process: from raw materials through various intermediate steps, such as transportation and production, to the finished product.

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