Recommendations of the Task Force on Climate-related Financial Disclosures
BASF supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Disclosures recommended by the TCFD are presented in a number of places throughout this report. The table shows the sections and subsections in which the relevant information can be found.
Topic |
Recommended disclosures |
Section / explanation |
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Governance Disclose the organization’s governance around climate-related risks and opportunities. |
Describe the board’s oversight of climate-related risks and opportunities. |
Corporate Governance – Direction and management by the Board of Executive Directors |
Describe management’s role in assessing and managing climate-related risks and opportunities. |
Our Sustainability Concept – Our organizational and management structures |
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Strategy Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning where such information is material. |
Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term. |
Opportunities and Risks – Operational opportunities and risks |
Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning. |
Energy and Climate Protection – Strategy and governance |
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Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. |
Opportunities and Risks – Tools |
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Risk management Disclose how the organization identifies, assesses, and manages climate-related opportunities and risks. |
Describe the organization’s processes for identifying and assessing climate-related risks. |
Opportunities and Risks – Risk management process |
Describe the organization’s processes for managing climate-related risks. |
Opportunities and Risks – Risk management process |
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Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization’s overall risk management. |
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Metrics and targets Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material. |
Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process. |
Energy and Climate Protection – Global targets |
Disclose Scope 1, Scope 2, and Scope 3 greenhouse gas (GHG) emissions and the related risks. |
Corporate carbon footprint |
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Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets. |
Energy and Climate Protection – Strategy and governance |