Identification and Management of Sustainability Issues
Through our materiality analysis, constant dialog with stakeholders, and our many years of experience, we are continuously refining a better understanding of significant topics and trends as well as potential opportunities and risks along our value chain.
We used a materiality analysis in 2013 to identify and prioritize relevant sustainability topics for BASF. We started by collecting around 100 potentially relevant subjects. A workshop and qualitative interviews with internal and external specialists revealed that 38 of these were particularly relevant. Using a global survey, we gathered feedback on these 38 topics from around 350 external stakeholders worldwide, as well as around 90 experts and managers from various functions within the company. The participants rated the topics in terms of their current and future relevance for BASF. The results of this ranking are presented in a materiality matrix. Finally, the findings were discussed in internal workshops.
Material aspects derived from this include, for example, energy and climate, water, resources and ecosystems, responsible production, and employment and employability. These are the focus areas of our reporting. We have also integrated them into our steering processes and used them as the basis for working out our new global sustainability goals.
Since 2015, we defined new focus topics along the value chain based on the materiality analysis as part of an annual strategic evaluation process.
These formulate the commitments with which BASF positions itself in the market an how it aims to meet the growing challenges along the value chain:
Relevant topics resulting from these commitments – such as supply chain responsibility, responsible production, resource efficiency, energy and climate protection, water, stewardship, employment and employability, and portfolio management – form the focal points of our reporting. We also integrate these topics into our long-term steering processes to ensure societal acceptance and take advantage of business opportunities.