Norway
Sustainability
Leadership & Governance Index
Management of Legal & Regulatory Environment (SASB Code: RT-CH-530a.1)
Accounting metric
Discussion of corporate positions related to government regulations and/or policy proposals that address environmental and social factors affecting the industry
Information
Political dialog in compliance with corporate values and principles
We support and promote responsible, accountable, transparent and democratic processes that benefit society at large. This means for us to respect the roles and responsibilities of the institutions and organizations we seek to engage and being open about the interests we seek to advance.
In this context, we commit ourselves to responsible, honest and transparent action based on our values and principles. We are committed to ensuring that our dialogue and advocacy is in compliance with our Global Code of Conduct, and the rules and principles set out in our policy.
Integration of ESG in Enterprise Risk Management
The sustainability-related topics relevant for BASF are addressed by the responsible operating divisions, functional units and the regions, which assess the risks identified as being relevant according to impact and probability of occurrence. We also systematically assess opportunities and risks with effects that cannot yet be measured in monetary terms, such as reputational risks. We minimize sustainability risks with our sustainability management tools. For instance, we have established global monitoring systems to verify compliance with laws and our voluntary commitments in this area. These also incorporate our suppliers.
As part of our analysis of sustainability-related opportunities and risks, we also consider the physical risks associated with climate change (such as damage to plants caused by external weather events) and transition risks (such as impairment due to emission levels of plants) as defined by the Task Force on Climate-related Financial Disclosures (TCFD).
Source
BASF Report 2019: Opportunities and Risks: Risk Management Process, p.139-140
Political Communication and Advocacy
Critical Incident Risk Management: Operational Safety, Emergency Preparedness & Response (SASB Code: RT-CH-540a.1)
Accounting metric
Process Safety Incidents Count (PSIC), Process Safety Total Incident Rate (PSTIR), and Process Safety Incident Severity Rate (PSISR)
Information
In 2019, we recorded 0.3 process safety incidents per 200,000 working hours worldwide (2018: 0.3).
BASF uses the global ICCA definition instead of the US-focused ACC definition, since we as a globally operating company adhere to the globally acknowledged standard.
Our data collection methods for environmental protection and occupational safety are based on the recommendations of the International
Council of Chemical Associations (ICCA) and the European Chemical Industry Council (CEFIC).
Source
BASF Report 2019: Safety in Production, Process Safety, p. 110
Further information on our global data reporting:
BASF Report 2019: About the Report, p. 6
Critical Incident Risk Management: Operational Safety, Emergency Preparedness & Response (SASB Code: RT-CH-540a.2)
Accounting metric
Number of transport incidents
Information
We are systematically implementing our measures to improve transportation safety. We report in particular on goods spillages that could lead to significant environmental impacts such as dangerous goods leaks of BASF products in excess of 200 kilograms on public traffic routes, provided BASF arranged the transport.
We recorded three incidents in 2019 with spillage of more than 200 kilograms of dangerous goods (2018: 3). None of these transportation incidents had a significant impact on the environment (2018: 0).
Source
BASF Report 2019: Transportation and Safety, p. 115
Comment/Additional Information