Stakeholder Advisory Council
An inherent part of our sustainability management is the continuous exchange with our stakeholders. In 2013, in order to involve our stakeholders more intensively, we established the independent Stakeholder Advisory Council.
The Stakeholder Advisory Council consists of various renowned thinkers and leaders, whose knowledge and experience on material sustainability topics bring an important external perspective to the table in discussions with BASF’s Board of Executive Directors. Thus, the Stakeholder Advisory Council supports us in expanding sustainability-related strengths and identifying areas for improvement. Its members include:
- Peter Bakker, President of the World Business Council for Sustainable Development (WBCSD)
- Ralf Fücks, Founder and Director of The Center for Liberal Modernity
- Christine Loh, Chief Development Strategist at the Institute for the Environment, Hong Kong University of Science and Technology
- Fiona Reynolds, CEO of the Principles for Responsible Investment
- Youba Sokona, Senior Advisor for Sustainable Development at the South Center and Vice-Chair of the Intergovernmental Panel on Climate Change (IPCC)
The Stakeholder Advisory Council meets annually with BASF’s Board of Executive Directors to evaluate critically and refine the sustainability management of BASF on the basis of a shared dialogue. The meetings are chaired by the Chairman of BASF’s Board.
In the previous meetings of the Stakeholder Advisory Council, issues such as corporate strategy and targets, responsibility in the supply chain, climate change, human rights, the impact of externalities or the challenge of renewable raw materials were discussed. Based on recommendations of the Stakeholder Advisory Council we continuously review and update our sustainability approach and positioning.