BASF

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

• · berkeley_voluntary_registry

BASF pursues a make-and-buy renewables approach. In 2024 raised renewable electricity share to 26% (2023: 20%) of total electricity, targeting >60% by 2030. Hollandse Kust Zuid 1.5GW offshore wind farm (JV with Vattenfall and Allianz) fully operational summer 2024. Agreed 49% stake in Vattenfall's Nordlicht 1&2 (1.6GW combined, construction from 2026, operational 2028) to supply European sites incl. Ludwigshafen. JV with Mingyang for 500MW offshore wind farm in Zhanjiang (operational end-2025). Zhanjiang Verbund site supplied 100% renewable electricity from 2025 via SPIC and GEDI 25-year PPAs. Long-term green power PPAs across China, South Korea sites. ~150MW solar PPA capacity in North America via virtual PPAs. NAS battery storage at Schwarzheide.

BASF expects a residual share of unabatable emissions in 2050 and aims to offset all remaining emissions through high-quality nature-based and technical removals (DAC, BECCS, biochar, carbon farming). Planning to use ratings such as BeZero and Sylvera, and ICVCM Core Carbon Principles. Developing internal standards and considering own projects, potentially under European Carbon Removal and Carbon Farming Certification Framework (CRCF). Will likely use a portfolio mix including Verra, Gold Standard, Article 6 credits and CRCF. BASF did not use any carbon credits in the past business year. Also exploring carbon capture and storage (CCS) at Antwerp (Kairos@C project, potentially preventing up to 1 million metric tons CO2/year).

• Operational excellence and energy efficiency

  Continuously improving plant efficiency through certified ISO 50001 energy management systems. In 2024 implemented >450 measures reducing emissions by ~200,000 metric tons CO2. Examples: Antwerp site prevented >45,000 tCO2/year through process optimization; Yeosu (South Korea) reduced 9,000 tCO2/year via heat integration; Camaçari (Brazil) cut 5,000 tCO2/year. Potential reduction up to 0.6 million tonnes CO2 (primarily Scope 1) by 2030.

• Renewable electricity sourcing for own production

  Renewable energy lever can reduce Scope 2 emissions by up to 3.2 million metric tons CO2 by 2030. Half of Scope 1+2 emissions are from energy production. BASF Renewable Energy GmbH coordinates procurement. In 2024 reduced ~1 million metric tons CO2 through renewable electricity. Carbon footprint of purchased electricity: ~0.20 tCO2/MWh market-based.

• Low-emission steam generation via heat pumps and electrification

  BASF received funding approval from German BMWK for world's largest industrial heat pump at Ludwigshafen (up to 500,000 metric tons steam/year, reducing up to 100,000 tCO2/year), operational 2027. Exploring geothermal partnership with Vulcan Energy in Upper Rhine Graben (potential 300MW thermal, ~800,000 tCO2 avoidance). 25MW power-to-heat electrode boiler with 50Hertz at Schwarzheide operational end-2026. Lever offers up to 0.6 million tonnes CO2 reduction (Scope 1) by 2030.

• Climate-smart technologies: electric crackers, hydrogen, CCS

  Commissioned demonstration electric steam cracker furnace at Ludwigshafen with SABIC and Linde in 2024, could reduce process emissions by 90%+. PEM electrolyzer (54MW) at Ludwigshafen with Siemens Energy, operational March 2025, producing up to 8,000 metric tons emission-free hydrogen/year (~72,000 tCO2/year). Methane pyrolysis test plant ongoing. Partnership with Envision Energy for e-methanol. Antwerp@C/Kairos@C CCS project could prevent up to 1 million tCO2/year. Potential 1.1 million tonnes CO2 reduction by 2030 from climate-smart technologies lever.

• Supplier CO2 Management Program for raw materials (Scope 3.1)

  Launched 2021 to obtain transparency on raw materials-related emissions. Requested PCFs from >1,900 suppliers covering ~80% of raw materials-related GHG emissions; validated PCFs for >1,700 raw materials (~30% coverage of GHG emissions). Phase 2 launched 2024 to agree PCF reduction pathways with suppliers via BASF Supplier Days in Ludwigshafen and São Paulo. Long-term biomethane contract with ENGIE for Antwerp and Ludwigshafen Verbund sites. Industry-wide PCF data sharing via TfS-Siemens platform launched October 2024.

• Product portfolio steering via TripleS toward Sustainable-Future Solutions

  TripleS methodology assesses >50,000 products by sustainability performance, categorizing as Pioneer, Contributor, Standard, Monitored, Challenged. By 2030 target: >50% of TripleS-relevant sales from Sustainable-Future Solutions. 2024 achieved 46.3% (2023: 41.4%). Challenged products phased out within 5 years of classification. Examples include reduced-PCF Ultramid ZeroPCF, AdBlue ZeroPCF, biodegradable polymers.

• Circular feedstocks: bio-based, recycled raw materials, mass balance

  Use of bio-based and recycled feedstocks fed into existing Verbund plants via mass balance approach (REDcert2, ISCC PLUS certified). ChemCycled products use pyrolysis oil from used tires and mixed plastics. In 2024 expanded mass balance portfolio incl. Ccycled automotive refinish coatings and biomass balanced products. New Loop Solutions target: €10bn sales by 2030 (2024: €5.7bn). Long-term partnership with Encina Development Group for chemically recycled benzene.