International. BASF takes another step on its path to net zero and commits to Scope 3.1 emissions targets.
The announcement was made during an update for investors and analysts in Ludwigshafen, in which Dr. Martin Brudermüller, Chairman of the Board of Management of BASF SE, and Dirk Elvermann, Chief Financial Officer, reported on the progress made in the implementation of the corporate strategy announced in 2018.
BASF provided investor representatives with an update on its progress on the path to climate neutrality, starting with the original goal of ensuring climate-neutral growth in the 2018 strategy.
In March 2021, BASF increased this ambition and set reduction targets for Scope 1 and 2 emissions: a 25% reduction by 2030 compared to 2018 and net zero emissions by 2050. To achieve these goals, BASF is focusing on the use of renewable energy and technologies for carbon reduction.
In view of the progress the company has made in obtaining reliable primary data on emissions associated with purchased feedstocks, BASF is now confident that it has a sufficiently solid foundation to set Scope 3.1 emissions reduction targets.
By 2030, BASF aims to reduce its specific Scope 3.1 emissions by 15 percent compared to 2022 across its entire portfolio: from 1.57 to 1.34 kilograms of CO2 per kilogram of feedstock purchased.
"We have defined a specific target because our goal is to improve the carbon footprint of our sales products, which we calculate in kilograms of CO2 per kilogram of BASF product sold," Brudermüller continued.
"Our short- and long-term ambitions and efforts are clear: BASF will work with both customers and suppliers to find pragmatic solutions that are cost-effective and good for the environment. Our long-term ambition is also clear: we are committed to achieving scope 3.1 net-zero emissions by 2050," Brudermüller added.
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