Recommendations of the Task Force on Climate-related Financial Disclosures
BASF supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Disclosures recommended by the TCFD are presented in a number of places throughout this report. The table shows the sections and subsections in which the relevant information can be found. The table is divided into four key areas in line with the TCFD recommendations: governance, strategy, risk management, and metrics and targets.
Topic |
Recommended disclosures |
Section/explanation |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
||||||||
Governance Disclose the organization’s governance around climate-related risks and opportunities. |
Describe the board’sa oversight of climate-related risks and opportunities. |
Corporate Governance Report – Direction and management by the Board of Executive Directors |
||||||||
Describe management’sb and senior executives’ role in assessing and managing climate-related risks and opportunities. |
Our Sustainability Concept – Our organizational and management structures |
|||||||||
|
|
|
||||||||
Strategy Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning |
Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term. |
Opportunities and Risks – Operational opportunities and risks |
||||||||
Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning. |
Energy and Climate Protection – Strategy and governance |
|||||||||
Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. |
Opportunities and Risks – Tools |
|||||||||
|
|
|
||||||||
Risk management Disclose how the organization identifies, assesses, and manages climate-related risks. |
Describe the organization’s processes for identifying and assessing climate-related risks. |
Opportunities and Risks – Risk management process |
||||||||
Describe the organization’s processes for managing climate-related risks. |
Opportunities and Risks – Risk management process |
|||||||||
Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management. |
||||||||||
|
|
|
||||||||
Metrics and targets Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material. |
Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process. |
Energy and Climate Protection – Global targets |
||||||||
Disclose Scope 1, Scope 2, and Scope 3 greenhouse gas (GHG) emissions, and the related risks. |
Energy and Climate Protection – Corporate carbon footprint |
|||||||||
Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets. |
Energy and Climate Protection – Strategy and governance |
|||||||||
|
||||||||||