Basf(US:BASFY) Di Yi Cai Jing·2025-06-07 09:11Core Insights - The release of the "Product Carbon Footprint Guide 3.0 (Chinese Version)" by the global chemical sustainability initiative "Together for Sustainability" (TfS) aims to provide precise technical tools for the chemical industry and other sectors using chemical materials to meet global climate goals [1][3][5] Group 1: Key Features of the New Guide - The guide integrates feedback from TfS member companies, suppliers, and industry stakeholders, simplifying the implementation process [3] - It offers clear guidance on definitions, methodologies, and data standards, particularly in areas like waste management and carbon capture, ensuring seamless integration into global operations [3][5] - The guide aligns with international standards such as the PACT framework and Catena-X, promoting collaboration across the supply chain by breaking down data barriers [5] - It enhances reporting accuracy and feasibility by refining terminology related to waste and multi-output process decisions [5] - The guide improves data quality by strengthening accounting methodologies, particularly for Scope 3 emissions, enabling transparent tracking throughout the process [5] Group 2: Industry Context and Implications - The chemical industry accounts for approximately 7% of global greenhouse gas emissions, with 77% of these being Scope 3 emissions, highlighting the urgent need for detailed and comparable emissions data [5] - The updated guide responds to increasing regulatory pressures and stakeholder expectations for transparency in sustainability reporting [5][6] - The launch of the Chinese version of the guide aligns with China's "dual carbon" strategy, aiming to foster collaboration among Chinese chemical companies, industry associations, and sustainability experts [6] - The event featured discussions on carbon management experiences and practices, emphasizing the commitment to continuous improvement and sustainable development across various industries [6][7]