China - November 28, 2024 German chemical giant BASF integrates sustainability into its China strategy (Voice_over) The relationship between German chemical giant BASF and China has been growing steadily since it first began more than a century ago. The multinational Fortune 500 company makes chemical products used in all aspects of daily life. It maintains strong production bases in China with facilities in four cities including Shanghai and Nanjing. The company’s Sr. VP of Operations and Site Management in the country says in recent years, BASF has been promoting its green transformation together with the Chinese market. (Sound_bite) Jan Peter Bredehoft, Senior vice president, Operations and Site Management, BASF Greater China： "China is already today the biggest chemical market worldwide and we have a strong confidence. So, we invest in two areas. One is we want to increase our local production and the second is we want to develop sustainable solutions together with our customers." (Voice_over) Part of those investments went into creating and expanding the Innovation Campus Shanghai, BASF’s largest research and development center in Asia and home to ten percent of the company’s roughly 10,000 global R and D employees. BASF says all of the company’s investments into China are being viewed optimistically. (Sound_bite) Jan Peter Bredehoft, Senior vice president, Operations and Site Management, BASF Greater China： "[By the end of 2023,] we invested together with partners already 14 billion euro in China, and all of these investments have a very good track record. So, we are looking forward to the future development, and we highly appreciate also the change of the growth model into high quality growth and into sustainable growth." (Voice_over) BASF hopes to achieve net-zero greenhouse gas emissions by 2050, while also planning to assist China in achieving its clean energy goals of becoming carbon neutral by 2060. [Restriction: No access Chinese mainland]