Sustainable Business

BASF, RWE in partnership to cut green house gas emissions

1 minute read

A logo is seen on the facade of the BASF plant and former Ciba production site in Schweizerhalle near Basel, Switzerland July 7, 2009. REUTERS/Christian Hartmann/File Photo

FRANKFURT, May 17 (Reuters) - German chemicals giant BASF (BASFn.DE) said on Monday it would form a strategic partnership with Germany's top utility RWE (RWEG.DE) for its long-term goal to achieve climate neutrality.

BASF did not provide further details but said a press briefing would be held on the matter on Friday with the chief executives of both companies.

BASF, the world's largest chemicals and plastics producer by sales, in March pledged to spend up to 4 billion euros ($4.7 billion) to slash greenhouse gas emissions by a quarter by 2030. It also wants to become carbon neutral by 2050.

RWE, one of Europe's largest polluters, aims to be carbon neutral by 2040.

Deals for access to renewable electricity were part of that plan, it said at the time.

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Reporting by Ludwig Burger; Editing by Christoph Steitz

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