BASF Report 2021 Management’s Report – Overview 19 Recommendations of the Task Force on Climate-related Financial Disclosures in the relevant chapters of the integrated report Topic Recommended disclosures Section/explanation Page Governance Describe the board’sa oversight of climate-related risks and opportunities. Corporate Governance Report – Direction and management by the Board of Executive Directors Pages 162–163 Report of the Supervisory Board Pages 177–183 Disclose the organization’s governance around climate-related risks and opportunities. Describe management’sb role in assessing and managing climate-related Our Sustainability Concept – Our organizational and management structures Page 46 risks and opportunities. Strategy Describe the climate-related risks and opportunities the organization has Energy and Climate Protection – Strategy Pages 126–127 identified over the short, medium, and long term. Opportunities and Risks – Operational opportunities and risks Pages 154–158 Disclose the actual and potential impacts of Opportunities and Risks – Strategic opportunities and risks Pages 158–160 climate-related risks and opportunities on the organization’s businesses, strategy, and financial Describe the impact of climate-related risks and opportunities on We Drive Sustainable Solutions – Steering Our Product Portfolio Pages 141–142 planning where such information is material. the organization’s businesses, strategy, and financial planning. Opportunities and Risks – Operational opportunities and risks Pages 154–158 Opportunities and Risks – Strategic opportunities and risks Pages 158–160 Describe the resilience of the organization’s strategy, taking into Opportunities and Risks – Risk management process Pages 152–154 consideration different climate-related scenarios, including a 2°C or Opportunities and Risks – Strategic opportunities and risks Pages 158–160 lower scenario. Risk management Describe the organization’s processes for identifying and assessing Opportunities and Risks – Risk management process Pages 152–154 climate- related risks.c Disclose how the organization identifies, assesses, and manages climate-related Describe the organization’s processes for managing climate-related risks. Opportunities and Risks – Risk management process Pages 152–154 risks. Opportunities and Risks – Strategic opportunities and risks Pages 158–160 Describe how processes for identifying, assessing, and Opportunities and Risks – Risk management process Pages 152–154 managing climate-related risks are integrated into the organization’s overall risk management. Metrics and targets Disclose the metrics used by the organization to assess climate-related Energy and Climate Protection – Global targets and measures Pages 128–129 risks and opportunities in line with its strategy and risk management Water – Global target and measures Page 136 Disclose the metrics and targets used to process. We Drive Sustainable Solutions – Steering Our Product Portfolio Pages 141–142 assess and manage relevant climate-related risks and opportunities where such information Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas Energy and Climate Protection – Strategy Pages 126–127 is material. (GHG) emissions, and the related risks. Energy and Climate Protection – Global targets and measures Pages 128–129 Describe the targets used by the organization to manage climate-related Energy and Climate Protection – Strategy Pages 126–127 risks and opportunities and performance against targets. Water – Strategy Page 135 We Drive Sustainable Solutions – Steering Our Product Portfolio Pages 141–142 a Refers to the Supervisory Board b Refers to the Board of Executive Directors and senior executives c Climate-related risks are identified, assessed and managed as part of the general risk management process.