BASF: INTEGRATED REPORTING FACILITATES HOLISTIC ASSESSMENTS

HOW DOES SASB COMPLEMENT YOUR USE OF GRI, GLOBAL COMPACT, TCFD AND OTHER FRAMEWORKS? FOR EXAMPLE, DOES IT SERVE A SPECIFIC AUDIENCE? Tanja: The SASB standard is a meaningful addition to the established ESG reporting standards that form the basis for our reporting. [...] WHAT WERE THE CHALLENGES OF USING SASB STANDARDS FOR THE FIRST TIME, AND HOW DID YOU OVERCOME THEM? FOR EXAMPLE, HOW WERE YOU ABLE TO ADAPT THE SASB METRICS TO INTERNATIONALLY ACCEPTED DEFINITIONS, SUCH AS FROM THE ICCA? Tanja: Thanks to our long-established reporting processes, we were able to report on most of the required indicators relatively efficiently. [...] To complete the picture, we would welcome the inclusion of enabling elements, such as products with a positive impact on sustainability, in sector-specific standards in the future. [...] WHAT ARE THE BENEFITS TO BASF AND THE BROADER CORPORATE COMMUNITY TO HAVE CORPORATE INVOLVEMENT IN SETTING DISCLOSURE STANDARDS? Tanja: In 2014, we were the only German company and one of only a handful of European companies to participate in the working group on the development of a sector-specific standard for the chemical industry. [...] ORG/COMPANY-USE 5 BASF INTEGRATED REPORTING FACILITATES HOLISTIC ASSESSMENTS WHAT IS BASF’S APPROACH TO EXTERNAL ASSURANCE FOR ESG DISCLOSURES? IN ADDITION TO GIVING INVESTORS TRUST IN THE RELIABILITY OF THE DATA, DOES ASSURANCE HELP IN TERMS OF INTERNAL PROCESSES AND MANAGEMENT’S CONFIDENCE IN THE DATA? Stefanie: BASF has all of its sustainability information aud.