How does BASF assess its environmental impact?

BASF assesses its environmental impact by regularly conducting life cycle assessments. This method involves analyzing the entire lifecycle of a product—from raw material extraction through production, distribution, use, and disposal. By evaluating every stage, BASF can identify areas where environmental impacts occur and develop strategies to minimize them. Life cycle assessments provide a comprehensive overview of the ecological footprint and guide decision-making to enhance sustainability efforts within the company's operations and product offerings. This proactive approach helps BASF to not only meet regulatory requirements but also to align with global sustainability goals and consumer expectations.

Financial audits typically focus on monetary aspects rather than environmental metrics, while customer feedback and industry comparisons may not provide the in-depth evaluation necessary to accurately measure ecological impacts across a product's lifecycle.