Implementation of the German Corporate Governance Code (GCGC)
Please note
With the exception of the “Disclosures according to sections 289a and 315a of the German Commercial Code (HGB) and explanatory report of the Board of Executive Directors according to section 176(1) sentence 1 of the German Stock Corporation Act (AktG),” the content of this section is not part of the statutory audit but is part of a separate audit with limited assurance.
The content of this section is not part of the statutory audit of the annual financial statements but has undergone a separate limited assurance by our auditor.
The content of this section is voluntary, unaudited information, which was critically read by the auditor.
BASF advocates responsible corporate governance that focuses on sustainably increasing the value of the company. BASF SE follows all of the recommendations of the German Corporate Governance Code in the version dated April 28, 2022 (Code 2022), the version in force at the time of submitting the Declaration of Conformity on December 19, 2024. In the same manner, BASF follows almost all of the nonobligatory suggestions of the German Corporate Governance Code. Only suggestion A.7, whereby the duration of the Annual Shareholders’ Meeting should not exceed six hours, was not complied with by BASF in 2024 due to the large number of questions asked at the Annual Shareholders’ Meeting.
The joint Declaration of Conformity 2024 by the Board of Executive Directors and Supervisory Board of BASF SE is rendered in section Declaration of Conformity Pursuant to Section 161 AktG.
This content fulfills the Disclosure Requirements of the European Sustainability Reporting Standards (ESRS). The ESRS Index gives an overview of the references to the ESRSs in this report.