BASF Accelerates Exit from Xinjiang Joint Ventures Amid Human Rights Concerns
BASF has initiated the process to divest its shares in two joint ventures in Korla, China, due to increased competitive pressure and concerns about the high carbon footprints of the products. The decision is also influenced by recent reports of serious allegations related to the joint venture partner's activities inconsistent with BASF's values. Despite this, BASF remains committed to its business activities and planned investments in China, where it anticipates significant growth in chemical production until 2030.