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Magyarország
Magyarország

Chemistry creates value for the society

Sustainable development has been defined as the balance of economic success, ecological protection and social responsibility. To effectively manage sustainability, a company must be able to measure or otherwise quantify sustainability in each of these pillars.

BASF’s strategy in agriculture is aiming for innovation-driven growth in specific markets and for finding the right balance for success – for farmers, for agriculture and for future generations.

Though several different measurement and valuation methods exist, most are focused exclusively on ecological aspects, i.e. impact on climate, forest decline or water. However, methods developed on that basis reflect only a small part of what sustainability is all about: balancing environment, society and economics. The aim of BASF’s analysis methods is therefore to quantify corresponding aspects.

Based on our purpose “We create chemistry for a sustainable future”, we want to contribute to a world that provides a viable future with an enhanced quality of life for everyone. But is there a way to measure this?

We create value

BASF has developed a new method with external experts to perform the first monetary assessment of the economic, ecological, and social impacts of its business activities along the value chain: the “Value to Society” approach.

We want to measure the value proposition of our actions along the entire value chain, aware that our business activities are connected to both positive and negative impacts on the environment and society. We strive to increase our positive contribution to society and minimize the negative effects of our business activities.

Aerial images are the basis for detailed evaluations of the condition of agricultural fields. An innovative technology platform developed by Hummingbird Technologies uses proprietary algorithms driven by aerial images captured from satellites, planes and unmanned aerial vehicles. It processes image data to create precise harvest forecasts or accurately calculate how much fertilizer is needed. BASF Venture Capital and Canada’s TELUS Ventures are among the lead investors in a series B investment round for British startup Hummingbird Technologies, a global leader in advanced crop analytics. Copyright: ThinkstockPhotos

Value to Society

Our “Value-to society” assessment reflects BASF’s economic, social and environmental contribution to society along the value chain in monetary terms. We show how chemistry is enabling businesses to generate sustainable growth. With a pragmatic, efficient, auditable and transferable approach, we share our experiences and learnings with our stakeholders and standard setting communities.

Sustainability

Value to Society