BASF recognized as global leader in corporate climate action
January 22, 2019
BASF has been highlighted as a global leader in corporate climate action in 2018 by non-profit CDP, ranking in the CDP Climate Change A List. Every year, thousands of companies disclose their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2018, companies were requested to do so by over 650 investors with over US$87 trillion in assets, and 115 major purchasing organizations with US$3.3 trillion in purchasing power.
BASF has participated in the CDP’s program for reporting on data relevant to climate protection since 2004. After achieving a score of A- in the last years, awarding “Leadership” status, BASF has improved to the top A rating in 2018. At Leadership level, companies are distinguished by factors such as the completeness and transparency of their reporting. Furthermore, they have approaches in place for managing the opportunities and risks associated with climate change as well as clear corporate strategies to reduce emissions.
To accomplish BASF’s climate target, 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. BASF’s Carbon Management supports achieving the Sustainable Development Goal 13 – Climate Action.
Paul Simpson, CEO of CDP, said: “Congratulations to all companies that made it onto CDP’s A List this year. As the severity of environmental risks to business becomes ever more apparent, these are the companies that are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy.”
The full list of companies on this year’s CDP Climate Change A List is available here, along with all other public company scores.
CDP assesses companies on the comprehensiveness of their disclosure, their awareness and management of environmental risks and their demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.