Themen:
Media Release
July 31, 2024
Deutsche Bank has launched BASF’s first sustainability-linked payables finance program in Asia, with a focus on its operations in China. The solution meets global standards and has been tailored to suit local business requirements.
The program will support BASF’s activities in China. The solution provided by Deutsche Bank converts BASF’s existing payables finance program to a sustainability-linked financing for some of its subsidiaries in China, allowing BASF to incentivise its suppliers to adopt sustainable practices.
The sustainability-related performance of suppliers will be measured by EcoVadis, a globally recognised supplier sustainability rating platform. The rated suppliers are incentivised to progressively improve their performance to qualify for preferential interest rates. Unrated suppliers are motivated to get rated, encouraging them to transition to sustainable practices. The program will enhance the performance of BASF’s payables finance program through shared value and common goals.
Ole Matthiessen, Head of Corporate Bank for Asia Pacific, Middle East and Africa and Global Head of Cash Management said: “We are delighted to partner with BASF on its first sustainability-linked payables finance program in Asia. We are strongly committed to our sustainability strategy and helping our clients find innovative new solutions that not only improve resilience of their supply chains, but also advance their sustainability footprint to future proof their operations. We look forward to continuing to help BASF with its sustainable growth ambitions globally.”
Birka Benecke, Senior Vice President Corporate Treasury at BASF, said: “With this program, we can deepen our collaboration with our suppliers and strengthen the partnership in the area of sustainability transformation. This also gives us the opportunity to further optimise our supply chains.”
This sustainability-linked payables finance program was recently recognised by The Asset’s Triple A Treasurise Awards for ‘Best ESG Solution in China’. In addition, Deutsche Bank was named by Euromoney’s Awards for Excellence as ‘World’s Best Bank for Corporates’.
Deutsche Bank AG
Media Relations
Kate Fields
Phone: +852 2203 5094
Email: kate.fields@db.com
Doris Yu
Phone: +86(10)59698619
Email: doris.yu@db.com
Further links on the topic
Learn more about BASF
Find out more about Deutsche Bank in Asia Pacific
Learn about Deutsche Bank’s corporate banking solutions
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