Chemical companies often run the risk of being associated with environmental degradation and pollution. BASF is conscious of such concerns and that’s why it has adopted a sophisticated strategy to ensure sustainable development. For BASF, sustainability is a concept that runs throughout the lifecycle of a product. The company views sustainable development not just as an operational imperative, but also looks at it as a source of future growth.
As Johnny Kwan, Chairman of BASF Greater China Country Board, says, “In 2004 we launched our Strategy 2015 where we categorically said that ensuring sustainable development is one of our strategic pillars.”
BASF has taken its commitment to sustainability a step further–instead of focusing on its own sustainability goals, the company is trying to work with everyone in the value chain. In 2006 BASF China launched the ‘1+3’ project, an initiative in which the company shares best practices and works closely with supply chain partners to ensure that everyone works towards the same sustainability goals.
In Part 2 of this interview with CKGSB Knowledge‘s Carol Wang, Kwan elaborates on how the company incorporates sustainable development in its strategic planning, and how R&D and innovation help combine business goals with sustainability goals.