Many aspects of how to measure sustainable performance are coming together, Christian informs us. For example, BASF brings various methodologies together building on company data and measurement methods (bottom-up) and industry data and methods (top-down). .
Christian, formerly responsible at BASF for the project Value to Society, and his team started with indicators such as profits, taxes, wages, training, health and safety, air pollution, climate, land use, water consumption and pollution, or waste. ... The methodology involves evaluating a production processas well as the up-stream and down-stream value chain.
The central question: can you define and measure consistently the positive and negative value drivers of a company, which reflect and demonstrate the sustainability performance of a company? Yes, BASF has proven that measuring its value to society since 2013. The results of different applications inform the decision making and steering processes within the company.
"In time, we need to have a globally effective baseline for reporting. If financial and non-financial aspects are not measured in a consistent approach, robust and standardized, we cannot compare the performance of companies. This does not yet exist as a standard, but BASF, together with its partners, strive to develop and implement a holistic approach for better decision making and transparency in reporting," Christian says.