On Friday, the BASF announced its plan to allocate up to EUR4 billion (USD4.7 billion) to cut greenhouse gas (GHG) emissions by 25% until 2030.
The company plans to be carbon neutral by 2050.
BASF will invest up to EUR1 billion (USD1.18 billion) to 2025 and EUR2-3 billion (USD2.36-3.5 billion) by 2030 to replace fossil fuel with renewable electricity for its energy requirements.
The carbon dioxide (CO2) cut target replaces the commitment BASF previously made in 2018 but the company has not publicized the investment budget for the effort. In 2018, the company’s GHG emissions were 21.9 million tonnes of CO2 equivalents.
