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New BASF Report Makes Business Sustainability Transparent

Published on 2009-03-17. Author : SpecialChem

LUDWIGSHAFEN , Germany -- BASF creates measurable value for employees, shareholders, customers and society with its products and solutions as proved by the Report 2008 published by the company. The publication has again gained the highest quality rating, Level A+, from the Global Reporting Initiative ( GRI). The independent institution's rating reaffirms BASF's broad application of internationally recognized criteria for sustainability reporting. BASF is the only DAX company to date to combine financial and sustainability reporting in an integrated report and to reach the GRI's highest level.

The report clearly illustrates how corporate and social interests are linked. One such example is a solution in the area of energy efficiency: In BASF's Energy Verbund, heat from production processes is not discharged to the environment; instead it is captured to power other production plants. The company's Ludwigshafen site thus saves €200 million per year and emits 1.5 million metric tons less carbon dioxide. Renewable energies is another area where the company and society benefit in equal measure. BASF is heavily involved in research into organic solar cells. This innovation is important to the company as a means of securing participation in the energy markets of the future. Society in turn benefits from an innovative way of converting sunlight into cost-effective electricity and generating clean energy.

" Long-term success is not possible unless the environment and society are treated carefully, and that is why sustainability is a firm component of our strategy," said Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE. "Difficult times especially show that companies which conduct their business sustainably and responsibly are more successful in the long term."

BASF measures its economic, environmental and social performance on the basis of clearly defined targets, most of them long-term. Each year, the company reports on the extent to which it has achieved these goals. The report shows, for instance, that the company earned a high premium on its cost of capital in 2008, reduced specific greenhouse gas emissions by 14 percent, and raised the proportion of senior managers with international experience to 74 percent (in each case versus the respective baseline year).

Last year, BASF achieved external recognition for its sustainable development strategy and its implementation in the company from a number of sources. For instance, BASF received the German Sustainability Award in 2008 and heads the Dow Jones Sustainability Index as best chemical company.

About BASF:

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has approximately 97,000 employees and posted sales of more than €62 billion in 2008. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

Source: BASF

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