Yara

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Yara
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Quick Facts
TypePublic
sectorFertilizer
Headquarters (Benelux Organization)Oslo, Norway
Year of Origin1905
Emissions (All Scopes)71,1 Megatons of CO2 (2020)
Net IncomeUSD$ 11,6 billion (2020)
Key People
  • Svein Tore Holsether (CEO Yara worldwide)
  • Michael Schlaug (CEO Yara Sluiskil)
Subsidiaries
  • Yara group consists of 127 legal entities [1]

Yara

Yara is a wellknown international company active in the business of fertilizers. The focus of this page is the Dutch branch of Yara. In the Netherlands, Yara is located in Sluiskil and in Vlaardingen. Yara Sluiskil is the largest fertilizer plant in North-western Europe, and in Vlaardingen Yara mainly produces soluble fertilizers, potting soil fertilizers and liquid fertilizers. Where accessible, data from the Dutch locations is used. Where no information is available or information from the mothercompany is more relevant, this information is used. The facts on the right of the page are based on information from the Dutch plants only.

Yara International

Yara, stylized as Yara, was founded in 1905 and currently operating an integrated business model with around 17000 employees and operations in over 60 countries. Yara claims to be the world’s leading fertilizer company and a provider of environmental solutions. [2] In 2020, Yara’s reported revenu was 11,6 billion USD. [3] Operating income was 1,1 billion USD. [4] Net income was 690 million USD. [5] Effective tax rate was 19%. [6] Yara shares are traded at the Oslo Stock Exchange. Norwegian state owns most of the shares (36,2%). Norwegian private partners own 23,9%. The rest of the shares are primarily US or UK owned. [7] Yara is headquartered in Oslo, Norway. [8] Yara’s balance sheet value was 16605 million in 2020. [9]

Yara Netherlands

Yara has a plant in Sluiskil and a location in Vlaardingen.

Yara Sluiskil has been active since 1929 when it started producing ammoniumsulphate. Yara Sluiskil takes up about 15% of the total production volume of the entire Yara company. [10] Yara Sluiskil employs 666 people and processes about 5 million tonnes of product on a yearly basis. [11] Yara claims to have reduced its CO2 emission from 2005 to 2015 by 60% while production increases by 1,5 million tonnes. [12] Yara Sluiskil is the largest factory of articifial fertilizer in Northern Europe. [13] According to the country by country report of Yara, the revenu of the different branches in the Netherlands was combined 1,028 billion USD. Profit before taxes is 2,136 billion USD. [14] The profit is twice the revenu. Suspected is some tax structures are applied here. Yara Sluiskil makes a revenu of 835 million USD, profit before taxes is 141 million USD. [15] These numbers deviate largely from the numbers circulating in the press. De Groene Amsterdammer published in 2018 that Yara Sluiskil had a revenue of 730 million EUR with a profit of only 33 million EUR. [16]

Yara Vlaardingen produces water soluble fertilizers, potting soil fertilizers and liquid fertilizers targeting the fertigation segment. [17] Information on Yara Vlaardingen is very limited. There is no information available about remuneration of the direction or balance sheet value of Yara Netherlands.

Company Structure

Yara International

Yara is 50% owner of Yara Pilbara Nitrates Pty Ltd (Australia), 49% owner of Trinidad Nitrogen Co. Litd. (Trinidad) and 68% ownership of Yara Freeport LLC DBA Texas Ammonia (USA). [18] Yara has a non-controlling interest in Yara Dallol (Netherlands). [19]

Yara Netherlands

The Yara group consists of 127 legal entities [20] Yara Nederland B.V. is the main parents to 15 of these legal entities. Next to that Yara Holding Netherlands B.V. is also registered in the Netherlands. [21]

The information below on board of directors and supervisory board is all data from the mothercompany. There is very limited information on the directors of the Dutch branches.

Board of Directors

Yara Group Executive Board
Name Function Remuneration x1000 EUR
Svein Tore Holsether Chief Executive Officer & President 720
Tove Anderson Europe 378
Pål Hestad Global Plants & Operational Excellence 187
Lars Røsæg Chief Financial Officer 187
Kristine Ryssdal Legal & HR 350
Terje Knutsen Farming Solutions 355
Pablo Barrera Lopez Communication & Procurement 350
Chrystel Monthean Americas 193
Fernanda Lopes Larsen Africa & Asia 80

These numbers exclude share-based remuneration and other benefits. [22]

Yara Board of Directors

Yara Board of Directors
Name Function Remuneration x1000 EUR
Trond Berger Chair 773
Kimberley Lein-Mathisen Vice-chair 40
Rune Bratteberg Member 48
Håkon Reistad Fure Member 44
Ragnhild Flesland Høimyr Member 24
Øystein J. Kostøl Member 24
Adele Bugge Norman Pran Member 53
Geir O. Sundbø Member 44
John Thuestad Member 56
Brigitte Ringstad Vartdal Member 29

These number exclude compensation in shares and dividend. [23]

Yara Netherlands

Michael Schlaug is the general director of Yara Sluiskil. [24] Gijsbrecht Gunter is the manager of external affairs and communicaion for Yara Sluiskil. [25] No other information on the direction of Yara Sluiskil or Yara Netherlands can be found online.

Accountant

Deloitte is the independent auditor of Yara, both the parents company as well as most of the subsidiaries. [26]

Main Activities

Yara is the worlds leading fertilizer company. One of Yara's main ingredients is ammoniak. This is a very high energy-consuming production process. [27]

Government

To what extent can the government influence company policy? (shareholder, licensing authority, client etc.) Has company received NOW support or royal status?

Paris Agreement to Today

What has company done or refused to do since the Climate Accord of Paris? Per company, where applicable refer to research on the benefits of fossil companies in the form of subisidies etc.

Financial Results since 2015

This tabel is meant to indicate that the companies have plenty of money to make their company more sustainable. Clearly distinguish between Dutch data and international data.

Financial situation
Year Revenue Profit Dividend
2015 XXX Billion EUR XXX EUR XXX EUR
2016 XXX Billion EUR XXX EUR XXX EUR
2017 XXX Billion EUR XXX EUR XXX EUR
2018 XXX Billion EUR XXX EUR XXX EUR
2019 XXX Billion EUR XXX EUR XXX EUR
2020 XXX Billion EUR XXX EUR XXX EUR
2021 XXX Billion EUR XXX EUR XXX EUR

Current Policies and Emissions

Description of the emissions per scope. Critical analysis of (missing) information based on GHG protocol (probably most relevant for scope 3). Describe current climate policies of companies and possible reduction trends.

Yara International

‘’Planet’’ is weighed for 25% in the performance indicators based on which remuneration of the board executives is decided. [28]

Yara is well positioned to meet is reduction target of 55% by 2030 compared to 1990 levels. Yara has the ambition to reduce scope 1 & 2 emissions by 30% in 2030. For scope 3 emissions, Yara awaits a sectoral approach for the entire industry. [29]

Yara sees opportunities in clean ammonia. Yara wants to be a key player in the hydrogen economy. [30] Yara is a partner in the Science Based Targets initiative [31]

Yara’s emissions worlwide for scope 1 & 2 are reported at 17,7 million tonnes. [32] Yara has the ambition to become climate neutral by 2050. [33] 800000 tonnes CO2 reduction. [34] In 2020, Yara’s GHG emissions totalled 71.1 million tonnes of CO2 equivalents (CO2e) for scopes 1, 2, and 3 combined. [35]

Total emissions XXX Megatonnes of CO2 (2020)
Scope 1 Scope 2 Scope 3
XXX Megatonnes of CO2 (2020) XXX Megatonnes of CO2 (2020) XXX Megatonnes of CO2 (2020)

Yara Netherlands

Yara Sluiskil is the largest fertilizer plant in nort-western Europe. Their main ingredient is ammoniak, of which the production costs a lot of energy. 70& of the costs of Yara Sluiskil are electricity costs. [36] Due to the high gas prices, Yara had to cut 40% of its production at the end of 2021. This was the case for the plant in the Netherlands as well as in other countries. [37]

Yara Sluiskil has come from 5,8 megaton in 1990 to 3,6 megaton in 2018. 1,4 megaton is reused, so the netto emission is 2,2 megaton. In this line they have halved their emissions since 1990. However, the chemical sector is still one of the largest polluting sectors in the Netherlands. [38] In 2020, the bruto emissions for Yara Sluiskil were 3,3 megatonnes. Critics say Yara had taken the easy steps to get tot his reduction. For example by reducing emissions of NOx. Yara states that a lot of their emissions is reused and can therefore not be accounted to them. [39]

Despite Yara’s slogan ‘’Responsibly feed the world and protect the planet’’ they are high-ranking on multiple lists of large polluters. They are the fourth largest CO2 emitter in the Netherlands with 2,5 megatonnes, number 13 on NOx (824000 kilo’s), number 2 on N2O (824000 kilo’s) and number 1 for NH3 (504000 kilo’s). [40]


Total emissions XXX Megatonnes of CO2 (2020)
Scope 1 Scope 2 Scope 3
XXX Megatonnes of CO2 (2020) XXX Megatonnes of CO2 (2020) XXX Megatonnes of CO2 (2020)

Climate Plans

Description of the climate plans of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?

Yara international

Our ambition is to become climate neutral by 2050, and to reach a milestone of a 30% reduction in our scope 1 and 2 emissions by 2030. [41] The strategic pillars to reach these goals are accelerating operational excellence and expanding commercial reach and offering [42] Yara plans to increase energy efficiency and reduce GHG emission intensity. However, subisdiaries and daughter companies are left out of these goals [43]

We are contributing along two main avenues: reducing greenhouse gas emissions from our own operations, and offering and exploring new, sustainable solutions for farmers and food companies as well as for a clean hydrogen and ammonia-based economy. [44]

Performance measures for the climate goals of Yara are increasing the amount of hectares under management to 150 million (2025), reduction of GHG emissions intensity to 2,7 ton CO2 per tonne nitrogen(2025), reduce absolute scope 1 and 2 emission by 30 percent in 2030, reduce energy intensiy (2023). [45]

Yara plans to optimize energy efficiency in ammonia production, as this accounts for 80 percent of direct GHG emissions. Plan is to undertake regular interna land external benchmarking activities, and by carrying out efficiency diagnosis and audits, resulting in systematic improvement actions. However, benchmarks have proven that Yara’s plans are already 2.o percentage points better dan the 2016-2017 global average. [46]

Yara aims to have all major production sites certified to ISO 500001 Energy Management stadard by 2022. [47].

Having reduced our GHG emissions by 45% since 2005, we are well-positioned to meet the EU 55% reduction target [48]

Yara Netherlands

Yara has developed a climate roadmap to reduce net-emissions from 1,9 megaton (2020) to 0,7 megaton in 2030. Projects in this roadmap are reducing the rest of NOx emissions, reuse of heat, replacing gas turbines with electrical turbines, differentiating steam and electricity balance in factories, capture and making CO2 liquid to store in empty gas fields. Yara also wants to use more CO2 in their endproducts. [49]

Yara claims the unrendable top of investment until 2030 is 1,5 billion euro’s. The price of prevented CO2 emissions per ton would be 60-80 euro’s. Yara claims this is a small price in comparison to for example the price of electrical vehicles. Yara also claims that their production is up to four times as efficient as Chinese producers and therefore they need help to become more sustainable [50]


Due Diligence

Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.

Scandals and controversies

Any dirt on the companies can be added here.

Conclusion

Recap of the position and influence of the company. Are the climate plans of the company enough to be in line with goals of the Paris Agreement? Is the company doing enough? Are the companies targets realistic?

References

  1. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 211
  2. ↑ https://www.yara.com/this-is-yara/
  3. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 3
  4. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 60
  5. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 11
  6. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 62
  7. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 70
  8. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 101
  9. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 114
  10. ↑ https://www.yara.nl/siteassets/over-yara/sluiskil/yara-sluiskil-general-presentation.pdf/
  11. ↑ https://www.yara.nl/contentassets/6ca92ab7997f4f3faa50fd9ada6d6855/2210781-duurzaamheidsverslagsite.pdf/ p. 2
  12. ↑ https://www.yara.nl/over-yara/yara-in-de-benelux/yara-sluiskil/over-yara-sluiskil/cuurzaamheid/
  13. ↑ https://www.yara.nl/contentassets/6ca92ab7997f4f3faa50fd9ada6d6855/2210781-duurzaamheidsverslagsite.pdf/ p. 3
  14. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-country-by-country-report-2020-web.pdf/ p. 6
  15. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-country-by-country-report-2020-web.pdf/ p. 6
  16. ↑ https://www.groene.nl/artikel/te-veel-kunstmest-is-een-killer
  17. ↑ https://www.yara.nl/over-yara/yara-in-de-benelux/yara-vlaardingen/
  18. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 155
  19. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 167
  20. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 211
  21. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 213
  22. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 203
  23. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 201
  24. ↑ https://www.yara.nl/contentassets/6ca92ab7997f4f3faa50fd9ada6d6855/2210781-duurzaamheidsverslagsite.pdf/ p. 3
  25. ↑ https://www.yara.nl/contentassets/6ca92ab7997f4f3faa50fd9ada6d6855/2210781-duurzaamheidsverslagsite.pdf/ p. 20
  26. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 210
  27. ↑ https://www.yara.com/this-is-yara/
  28. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 87
  29. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 21
  30. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 28
  31. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 35
  32. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 3
  33. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-integrated-report-2020-web.pdf/ p. 21
  34. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 3
  35. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 55
  36. ↑ https://www.trouw.nl/duurzaamheid-natuur/kunstmestfabriek-yara-in-het-zeeuwse-sluiskil-moet-als-broeikasbom-vergroenen-hoe-dan-ook~be96cc59/
  37. ↑ https://www.omroepzeeland.nl/nieuws/14024045/yara-vermindert-ammoniakproductie-het-gas-is-onbetaalbaar
  38. ↑ https://www.trouw.nl/duurzaamheid-natuur/kunstmestfabriek-yara-in-het-zeeuwse-sluiskil-moet-als-broeikasbom-vergroenen-hoe-dan-ook~be96cc59/
  39. ↑ https://www.pzc.nl/zeeuws-nieuws/yara-sluiskil-gaat-co2-uitstoot-terugdringen-maar-co2-blijft-ook-nodig-niemand-wil-plat-bier~aaf25af8/
  40. ↑ https://www.groene.nl/artikel/te-veel-kunstmest-is-een-killer
  41. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 17
  42. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 16
  43. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 19
  44. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 53
  45. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 54
  46. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 57
  47. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 57
  48. ↑ https://www.yara.com/siteassets/investors/057-reports-and-presentations/annual-reports/2020/yara-sustainability-report-2020-web.pdf/ p. 93
  49. ↑ https://www.pzc.nl/zeeuws-nieuws/yara-sluiskil-gaat-co2-uitstoot-terugdringen-maar-co2-blijft-ook-nodig-niemand-wil-plat-bier~aaf25af8/
  50. ↑ https://www.pzc.nl/zeeuws-nieuws/yara-sluiskil-gaat-co2-uitstoot-terugdringen-maar-co2-blijft-ook-nodig-niemand-wil-plat-bier~aaf25af8/
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