49% stake in Vattenfall Nordlicht 1&2 offshore wind farms BASF acquired 49% of shares in Vattenfall's Nordlicht 1 and 2 wind farm projects in the German North Sea. Total installed capacity 1.6 GW. Purchase price €501m. BASF will use ~half the electricity to supply European production sites, particularly Ludwigshafen.
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Restated 2023 Scope 1+2 emissions due to updated data The 2023 figure for target-relevant Scope 1+2 emissions was adjusted from 17.0 to 16.975 million metric tons of CO2e to reflect updated data.
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Auditor changed from KPMG to Deloitte Following statutory rotation requirements, Deloitte GmbH Wirtschaftsprüfungsgesellschaft was elected as new auditor for the 2024 fiscal year, replacing KPMG which had reached the maximum audit period under the Financial Market Integrity Strengthening Act.
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Supplier sustainability target refined to focus on inadequate performers Previous target was 80% of suppliers improve sustainability performance upon reevaluation. Revised to focus on suppliers with inadequate prior results: by 2030, 80% of such suppliers should improve. 2024 figure: 76%.
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Acquisition of MDI plant from Huntsman JV in Shanghai BASF acquired one of the two MDI plants plus aniline/nitrobenzene precursor plants from the Shanghai Lianheng Isocyanate JV with Huntsman. Purchase price €192m.
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Restated Scope 3.1 baseline due to availability of further primary data The 2022 Scope 3.1 baseline was adjusted in line with TfS Guideline due to availability of further primary data under the Supplier CO2 Management Program. The 2023 figure (1.67 kg CO2/kg) was also adjusted due to increased data availability.
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New Winning Ways strategy announced September 2024 BASF announced new Winning Ways strategy in September 2024 with differentiation between core businesses (Chemicals, Materials, Industrial Solutions, Nutrition & Care) and standalone businesses (Surface Technologies, Agricultural Solutions). Focus on capital discipline with capex reduced from €19.5bn (2024-2027) to €16.2bn (2025-2028).
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CDP Water A- leadership rating BASF achieved leadership status with A- rating on CDP Water in 2024, recognizing transparent water management reporting and risk reduction efforts.
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CDP Forests A- leadership rating BASF participated in CDP Forests evaluation in 2024 and achieved A- grade, again attaining leadership status. Assessment based on palm value chain transparency and ecosystem activities.
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Scope 1+2 reduction target: 25% by 2030 vs 2018 BASF targets 25% reduction in Scope 1+2 CO2 emissions by 2030 vs 2018 baseline of 21.9 million tonnes (to 16.4 million tonnes). Long-term net-zero target by 2050 covering Scope 1, 2 and 3.1.
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