BASF Report 2021 Management’s Report – Our Values and Global Standards 31 Our Values and Global Standards How we act is critical to the successful implementation of our strategy and how our stakeholders perceive us. This is what our four corporate values represent: creative, open, responsible, entrepreneurial (CORE). They are binding for all employees worldwide. Together with our Code of Conduct and our global standards and guidelines, they provide the framework for responsible conduct. Our CORE values define how we want to work together – as a team, – The Responsible Care® Global Charter with our customers and our partners. – The German Corporate Governance Code Good to know Creative: We make great products and solutions for our customers. We stipulate binding rules for our employees with standards that This is why we embrace bold ideas and give them space to grow. apply throughout the Group. We set ourselves ambitious goals with We act with optimism and inspire one another. voluntary commitments and regularly monitor our performance in environmental protection, health and safety with our Responsible Open: We value diversity, in people, opinions and experience. This Care Management System. We mainly approach our adherence to is why we foster feedback based on honesty, respect and mutual international labor and social standards using three elements: the trust. We learn from setbacks. Compliance Program including our Code of Conduct and compli- ance hotlines, close dialog with our stakeholders, and the global CORE Leadership Values Responsible: We value the health and safety of people above all management process to respect international labor norms. Our else. We make sustainability part of every decision. We are commit- business partners are expected to comply with prevailing laws and Leaders have a special responsibility for our success, especially in ted to strict compliance and environmental standards. regulations and to align their actions with internationally recognized challenging and changing times. Good leadership provides sup- principles. We have established appropriate monitoring systems to port and is vital to our employees’ motivation and performance. Entrepreneurial: We focus on our customers, as individuals and ensure this. That is why we have derived specific leadership skills from each as a company. We seize opportunities and think ahead. We take For more information on the Responsible Care Management System, see page 117 onward CORE corporate value – our CORE Leadership Values. They serve owner ship and embrace personal accountability. For more information on compliance, see page 171 onward as guiding principles and describe our expectations of leadership For more information on stakeholder engagement, see pages 47 and 106 behavior – such as living optimism, inspiring teams, promoting Our standards fulfill and in some cases, exceed existing laws and For more information on our expectations of our suppliers, see page 109 onward diversity and making even difficult decisions. regulations and take internationally recognized principles into We support our leaders at every stage of their careers in fulfilling account. We respect and promote: their responsibilities and acting as role models. One component of this is the CORE Leadership Upskilling program launched in 2021. – The 10 principles of the U.N. Global Compact It comprises a range of virtual training modules and learning – The Universal Declaration of Human Rights and the two U.N. resources that encourage self-reflection and provide opportunities Human Rights Covenants for global dialog. – The core labor standards of the ILO and the Tripartite Declaration For more information on what we expect from our leaders, see page 98 of Principles Concerning Multinational Enterprises and Social Policy (MNE Declaration) – The OECD Guidelines for Multinational Enterprises