Plenary
The UN Sustainable Development Goals create the framework for sustainable business practices at the economic, social and environmental levels. They are driving companies to better manage their social risks and integrate social impact into their core business strategies. BASF developed a leading-edge approach to assesses how its business activities affect the health and well-being of people. Understanding relevant financial, natural, and social capital issues across the entire value chain is critically important to maximizing the value of the company’s contribution to a sustainable future and lively societies. For the world’s largest chemical company this has been a major undertaking, against the backdrop of its very complex value chain including 75,000 tier one suppliers, 358 sites and more than 60,000 product applications in various markets and industries. At the beginning of this year, the company published for the first time its efforts to value its economic, social, and environmental impacts on society in Euro-terms. – BASF’s Value-to-Society. BASF is one of the frontrunners in applying an integrated profit and loss approach, which is acknowledged to be the most comprehensive one in the market from a value chain and impact category perspective. By going beyond traditional reporting – from output to outcome and impact – BASF is shifting the perspective on business performance from a financial accounting to net positive thinking. Join Dirk Voeste’s presentation to gain exciting insights into how BASF implemented its impact-oriented, efficient, and scalable solution for assessing the “real” contribution to a sustainable future.
