BASF accelerates implementation of CO2 reduction targets

● The new project division "Net Zero Accelerator" will be led by President Dr.
Lars Kissau, reporting to the Group CEO

● Leading cross-company projects in low carbon technologies, circular economy and renewable energy

● Initiate and accelerate new emission reduction projects

BASF is consolidating and accelerating its wide range of cross-company projects through the creation of a new project division to achieve its goal of reducing CO2 emissions by 25% by 2030 compared to 2018 levels and achieving net-zero global CO2 emissions by 2050
.
The unit, called Net Zero Accelerator, will focus on implementing and accelerating projects related to low-carbon production technologies, circular economy and renewable energy
.
Dr.
Martin Brudermüller, Chairman of the Executive Board of BASF Europe "Through the creation of the new project division, we will continue to accelerate our ambitious goals and build a stronger organizational structure within BASF
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This further demonstrates our commitment to transforming into a climate-neutral business
.
"

The Net Zero Accelerator will be led by President Dr.
Lars Kissau (48) and will report to the Chairman of the Executive Board
.
Zebolan will lead and initiate projects related to the achievement of CO2 reduction targets at the Group level globally, with the aim of advancing them to the implementation phase over the next few years
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By integrating expertise in renewable energy, alternative feedstocks and CO2 reduction technologies, BASF will accelerate implementation and achieve economies of scale faster, thereby making an outstanding contribution to climate protection
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At the same time, each operating division will continue to carry out various divisional projects to jointly achieve BASF's emission reduction targets
.

Current cross-company projects managed by the division include BASF's activities in the circular economy, such as BASF's ChemCycling™ project and zero-carbon technologies including methane cracking
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Renewable energy is another area of ​​interest, where BASF has pursued several projects and signed specific agreements in recent months
.
For example, BASF signed a contract with Vattenfall to acquire a 49.
5% stake in the Hollandse Kust Zuid wind farm with a total installed capacity of 1.
5 GW; 186 MW of power output from the Borkum Riffgrund 3 offshore wind farm in the North Sea
.

The new project division is based in Ludwigshafen, Germany, effective January 1, 2022, and will initially employ around 80 people
.