How BASF plans to achieve its ambitious climate targets
In March 2023, German Centre Beijing and AHK Greater China hosted an exclusive China 30.60 roundtable which featured a keynote speech about BASF’s sustainability strategy and the green transformation at their sites in China, followed by lively discussions and networking.
Jan Peter Bredehöft, Senior Vice President, Operations and Site Management Greater China, BASF China, spoke about their green transformation drive towards net zero emissions and how BASF plans to achieve ambitious climate targets of 25 percent reduction of CO2 emissions by 2030 and net zero product-related emissions by 2050.
BASF uses five strategic levers which include increasing importance of renewable energy as a main driver of emission reduction, as well as CO2–free steam generation, new technologies for production of base petrochemicals, new entry points for bio-based feedstocks in value chains, and the reduction of CO2 emissions through various operational excellence measures.
The corporate’s new Zhanjiang Integrated Verbund site – to be completed by 2030 with up to €10 billion investments – is a good example how the use of latest technologies reduces CO2 footprint compared with standard gas-powered petrochemical sites. At the same time, this creates new business opportunities with low carbon products and enables customers to decarbonize their value chains.
The keynote speech was followed by a lively discussion round that made clear that companies from different industries are facing similar challenges to achieve decarbonization goals and green transformation across entire value chains.
It is important to stay ahead of the decarbonization curve and be transparent about the journey and we are happy to provide a platform for exchange of best practices from businesses for businesses.