Sustainability

Starting Ventures

Through Starting Ventures, BASF develops business solutions that empower people with low incomes to achieve a better quality of life. Starting Ventures demonstrates how we live our corporate purpose: we create chemistry for a sustainable future.

 

More than one billion people have escaped from extreme poverty since 1990. While this is a remarkable achievement, four billion people – the majority of the world’s population – still live on low incomes. Furthermore, they will account for the largest share of the global population growth by 2050. Worldwide, they strive to improve their quality of life. They aim to obtain better employment and to afford better food, housing, and hygiene – for themselves as well as for future generations.

Video: Starting Ventures – Partnering for a sustainable future

The opportunity

All sectors of society can empower low-income people to achieve their aims. This includes the state and civil society, but also the corporate sector as part of society. By integrating them into their value chains as customers, distributors, and suppliers, companies can create a positive impact on their lives. Opportunities for employment and entrepreneurship will improve their livelihoods. Better access to affordable products will meet their basic needs. For companies, these are also opportunities for innovation and growth.

As a globally operating chemical company, BASF is well positioned to fulfill this role. Our broad market access and the development of our portfolio towards downstream industries gives us the chance to create a positive impact on the daily lives of millions of low-income people throughout the world. By taking this chance, we also create opportunities to develop new business and to strengthen our supply chain. This contributes to our long-term success.

Sri Venkataramana Higher Primary School, Kulai (Mangalore) promotes the message of water conservation with prominent display boards in and around the neighboring community.

Our approach

Over the past decade, BASF has earned a track record of larger projects that succeeded in creating a positive social impact, while creating value for our business. The close cooperation with civil society, the public sector, and partners along our value chain has been key to fostering success.  

The projects have provided a rich learning experience that have enabled us to take the next step with our corporate program Starting Ventures. Through innovative business models and cross-sector partnerships, the projects develop business solutions that address people with low incomes throughout the world. Starting Ventures thereby contributes to our long-term success, while empowering people with low incomes to achieve a better quality of life.

The corporate program Starting Ventures provides resources to our business units to explore these new means of intrapreneurship. Furthermore, the program facilitates sharing of experience and expertise across the entire organization. The selection of project ideas by a central steering committee is based on criteria in three areas: social impact and impact on the environment as well as innovative business models. The UN Sustainable Development Goals form the basis for the criteria on social impact and environmental impact. 

Since 2016, the internal central steering committee has chosen a total of 36 projects. Out of this selection, 21 projects started since 2022 and  have either been completed or are currently in progress.

The projects

Africa

America

Asia-Pacific

Innovation Food Cluster

A shared value partnership to support local food producers and their infrastructure (in particular food warehouses) in the nutrition, agriculture and construction sector.

Sustainable Entrepreneurs

BASF is committed to help grow the business of the SSP’s long term and will use this platform to launch innovative crop protection solutions that will support the projected growth of soybean production, thus supporting the eradication of hunger.

Lampung smallholder project

The Lampung smallholder project will strengthen smallholders’ commitment to produce palm oil in a sustainable way, protect and respect the environment as well as improve labor practices and relations with the community in Lampung area, Indonesia.

Better Environment – Better Life

Together with partners (e.g. CCIA – China Cleaning Industry Association) BASF is co-developing more eco-friendly, efficient, water saving cleaning solutions.

#Hapi

Smallholder farmers face numerous challenges. #Hapi aims to address these challenges by delivering to Egyptian tomato growers real-time, tailor-made recommendations using mobile technology such as SMS and Interactive Voice Response (IVR).

Novasil Flour Fortification

With the help of partners this innovative business approach has various positive effects e.g. on health status, mortality rate and public health.

The West Bengal ecovio® Plus Project

The project is designed to establish and showcase the benefits of compostable packaging and bags and to help reinforce the relevant Indian policies.

Sustainable Development Goals icons. Which create framework for sustainable business practices at the economic, social and environmental levels