BASF globally has been named the world’s most transparent chemical company, in a new global ranking by non-governmental organization Transparency International. BASF was also the top rated German-headquartered company of any industry. Scores were based on public availability of information about anti-corruption systems, transparency in reporting on how they structure themselves, and the amount of financial information they provide for each country they operate in.
“This type of reporting responds to the pressing need for improvements in corporate transparency and helps restore public trust. Companies in Asia, including India are therefore increasingly embracing this trend even though there are no legal requirements”, said Mr. Prasad Chandran, Chairman, BASF Companies in India & Head South Asia. BASF India has been publishing an integrated report since 2009. The BASF in India Report 2011 documents the development, progress and performance of the company’s activities in India across the three spheres of local influence - economy, ecology and society. “Our triple bottom line reporting sets benchmarks in governance and promotes transparent communication and open dialogue with the communities in which we operate”, added Chandran.