Low-carbon products now ready, BASF says
Chemicals group BASF has reiterated its intention to reduce its greenhouse gas emissions by 25% by 2030, compared to the levels it measured in 2018. It renewed this commitment, which it first made public a year ago, in an update for investors and analysts on March 28.
This target, part of a broader ambition to achieve net zero emissions by 2050, will mean reducing emissions to 16.4 million tonnes by 2030. Chairman Dr Martin Brudermüller, said a large number of projects to reduce CO2 emissions was already under way across the BASF group and with its suppliers.
He added that BASF was now ready to offer net-zero and low carbon footprint products. He explained that its use of green energy, low-carbon steam, bio-based feedstocks and efficient processes had made this possible.
BASF said it expects demand for these low-carbon footprint products to exceed supply in the medium term and that their market value will more than compensate for higher production costs.
