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BASF achieves CDP leadership level in corporate water security and climate action
February 3, 2020
BASF has been included in the group of globally leading companies (leadership level) for corporate water security and climate action in 2019 by non-profit organization CDP (formerly Carbon Disclosure Project). BASF now ranks in the CDP Water Security A list. The company achieved the rank A- for its climate action. The CDP rank recognizes companies’ extensive and ongoing efforts in managing environmental impact and according transparency and disclosure measures.
BASF is introducing sustainable water management at all relevant production sites. These include the major Verbund sites as well as the sites in water stress areas. Up to now, these were regions in which more than 60% of available water is used by industry, household and agriculture. In 2019, BASF has expanded the definition of water stress areas: Since then, regions are included in which more than 40% of available water is used by industry, household and agriculture. BASF considers the quantitative, qualitative and social aspects of water use. The company wants to identify where it can improve at its own sites and continually increase the efficiency when using the resource water, especially in water stress areas.
To accomplish BASF’s climate target of growing CO2-neutrally until 2030, the company is continuously optimizing existing processes, gradually replacing fossil fuels with renewable energy sources and developing radically new low-emission production processes. The company is bundling all of its work under an ambitious Carbon Management.
Every year, thousands of companies disclose their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2019, over 525 investors with over US$96 trillion in assets and 125 major purchasers with US$3.6 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform and over 8,400 responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D-, based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provide insufficient information are marked with an F.
The full list of companies that rank in this year’s CDP Water Security A List is available here along with an overview of all the ranks that have been assigned by CDP in 2019. You can find more information about BASF’s water management here.
Find more information about CDP here.