BASF Report 2023

Stakeholder Management and Our Societal Engagement Approach

BASF’s business success depends on the societal acceptance of our business activities (license to operate). Parts of our business activities, such as the use of certain new technologies or our environmental impacts, are often viewed by stakeholders with a critical eye. We take questions from our stakeholders seriously, initiate dialogs and participate in discussions (see Stakeholder Engagement). Our stakeholders include customers, employees, investors, suppliers, the communities surrounding our sites, and representatives from industry, academia, politics and society. We are in ongoing exchange through a variety of formats of our strategic stakeholder engagement.

We are involved in networks, lobbying groups and associations in order to jointly promote sustainability topics. In our own independent exchange formats, we discuss our contribution to a socially just climate transformation (just transition) with representatives from business, science, politics and civil society. For example, we discussed solutions and challenges on the path to climate neutrality with our stakeholders at the BASF Sustainability Lab in 2023. In-depth, context-related discussions take place in topic-specific committees such as the Human Rights Advisory Council and the Nature Advisory Council.

We promote continuous exchange between local residents and our site management with community advisory panels. We also involve key stakeholders in the decision-making process about future investments at an early stage in order to work together on viable solutions. Our political advocacy is conducted in accordance with transparent guidelines and our publicly stated positions.

Our societal engagement approach

Our societal engagement is an important part of our sustainability management and our corporate responsibility. Communities at our sites and disadvantaged groups around the world are particularly important to us. Our activities are bundled in three action areas globally across all levels of the BASF Group: We want to improve people’s quality of life by preventing and combating disease (health), promoting educational equality, employability and economic participation (skills), and conserving natural resources (resources). Our aim is to make a positive contribution to society by leveraging our expertise and resources. In accordance with our societal engagement policy, our actions are in line with our compliance requirements, BASF’s strategy and our sustainability commitments.

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