What does "Circular Economy" refer to in the context of BASF?

The concept of a "Circular Economy" is centered around the idea of creating a sustainable economic model where resources are kept in use for as long as possible. In the context of BASF, this model emphasizes minimizing waste and promoting the reuse and recycling of materials. The goal is to close the loop of product lifecycles through greater resource efficiency, thereby reducing environmental impact and making the most of existing materials.

This approach aligns with BASF's commitment to sustainability by fostering innovations that allow for the recovery of materials and utilizing them in new products. Engaging in practices that promote reuse not only conserves resources but also reduces the need for new raw materials, ultimately resulting in less waste and a more sustainable society. This is in stark contrast to ethos where waste creation, short-term gains, or overproduction are prioritized, highlighting the unique and forward-thinking nature of a circular economy.