€38 billion
collective financial support and facilities were announced by the 38 members of the Business for Inclusive Growth platform on May 8, 2020 in Paris in response to the Covid-19 crisis.
Sustainability
BASF is member of the G7 Business for Inclusive Growth (B4IG) coalition
Business for Inclusive Growth (B4IG) is a global coalition, powered by the OECD. It aims to pool and strengthen efforts by private companies to reduce inequalities linked to opportunity, gender and territories, and to build greater synergies with government-led efforts. B4IG was launched in presence of President of France Emmanuel Macron on August 23, 2019 ahead of the G7 Leaders’ Summit in Biarritz.
The Business for Inclusive Growth (B4IG) business coalition was launched in connection with the G7 Leaders’ Summit in Biarritz, France
In recognition of record-high levels of inequality, a coalition of 40 leading international companies has committed to step up business action to advance human rights throughout their value chains, build inclusive workplaces and strengthen inclusion in their internal and external business ecosystems. In doing so, they will advance G7 government-led efforts to strengthen equality of opportunity, tackle regional disadvantages and fight gender discrimination.
The B4IG coalition is the first public-private initiative on global level of its kind. It gathers 40 members investing a combined total of USD 1.4 billion in more than 70 inclusive growth initiatives, benefiting more than 100 million people to date. The OECD is providing the analytical arm and the measuring mechanism to ensure impact from the actions of B4IG, as well as the links to policies in member and partner countries.
At BASF we are convinced that successful business is only possible within inclusive societies on a healthy planet. We have joined B4IG to work hand in hand with public and private partners for economic growth reaching all levels of society.
The coalition’s strategy rests on three pillars
- A Business Pledge Against Inequalities to advance human rights in direct operations and supply chains, build inclusive workplaces and promote inclusion in company value chains and business ecosystems;
- An incubator to design or expand new inclusive business models. The incubator will strengthen, scale up and replicate projects of B4IG member companies, and provide a space for co-creation of new inclusive business solutions.
- An inclusive growth financing forum to promote innovative financing mechanism between business, governments and philanthropic actors. It will seek to leverage the fast-growing impact investing market.
BASF chairs the B4IG Working Group “Impact Measurement”, also linking it to its activities in the the Value Balancing Alliance, and participates among others in the Working Groups “Inclusive Workplaces” and “Human Rights”.