Helping customers assess their portfolio with BASF's Sustainable Solution Steering methodology
- BASF publishes detailed methodology
- BioMar, supplier of high-performance fish feed, applies Sustainable Solution Steering to its portfolio
Sustainability is an integral part of BASF’s corporate strategy. A tangible example of how BASF carries out its company purpose “We create chemistry for a sustainable future” is the Sustainable Solution Steering method. This method has been developed by BASF to assess and steer its product portfolio based on defined sustainability criteria. It considers the entire value chain and markets including industry- and region-specific views. The approach reflects economic, ecological and social aspects of the products and solutions in their respective application. The company is now publishing the detailed method to enable customers and other interested parties to steer their portfolio according to their sustainability targets.
BioMar applies Sustainable Solution Steering to its business
Since BASF cooperates with its customers and partners in creating and driving more sustainable solutions, first customers are already using the Sustainable Solution Steering method to analyze and steer their portfolios. BioMar, a leading supplier of high-performance aquaculture feed for farms around the world, applies BASF’s Sustainable Solution Steering methodology to its raw material and ingredient supply side. “BioMar strives to be the sustainability leader in the industry and this method supports us with a comprehensive and systematic tool that grants transparency and documentation from raw material to end-product application,” explained Vidar Gundersen, Global Sustainability Director BioMar. The Sustainable Solution Steering supports BioMar’s sustainability targets: It helps to foster the use of more´sustainable raw materials in feed recipes, thereby promoting more sustainably produced aquaculture and seafood.
Originally developed by BASF for its own use as a chemical company, the methodology was adapted for the aquaculture feed industry by thinkstep, a consulting company. “thinkstep has been supporting companies in various industries to customize and implement this approach – using a combination of consultancy, sustainability data and software tools,” said Martijn Gipmans, Principal Consultant and chemical sector lead at thinkstep. “Clients value BASF’s Sustainable Solution Steering method because it systematically reveals risks and opportunities along the entire value chain and enables the strategic steering of a product portfolio towards greater sustainability and revenue growth.”
BASF has applied the method to analyze, assess and steer its portfolio since 2012. “Our experience with Sustainable Solution Steering shows that it is a very effective tool to actively improve our portfolio towards solutions which make a larger contribution to sustainability,” said Dirk Voeste, Vice President Sustainability Strategy at BASF. “The method helps us achieve the ambitious sustainability targets we have set ourselves and supports our customers with unique sustainability solutions.”
The manual including the detailed Sustainable Solution Steering methodology can be found under: basf.com/en/sustainable-solution-steering
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of €64.5 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.