Two recent reports by the CIKISI Observatory highlight the investments made by the BASF Group to meet the European Union's 2050 carbon neutrality target:
On the one hand, under the name of the Air Liquide project, BASF plans to develop the world's largest carbon capture and sequestration (CCS) mission, with the priority of significantly reducing CO2 emissions from the industrial hub of the Port of Antwerp.
In addition, BASF announced that it was grouping all its renewable energy activities under a single entity: BASF Renewable Energy. This new division is responsible for supplying green energy to all of the group's European production sites. By investing in new projects, such as the development of wind farms, BASF intends to gain more credibility in this field.
It is important to note that there are many alternatives to fossil fuels that contribute to reducing greenhouse gas emissions. Indeed, there are many more forms of renewable energy than wind power: solar, hydroelectric, marine, geothermal, biomass and biofuels.
In May 2021, by unveiling its Strategies for the Integration of Energy Systems [COM(2020)0299] and for the Use of Hydrogen [COM(2020)0301], the European Parliament expressed its support for decarbonisation and the development of renewable energies in electricity production.