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BASF SE BASFY and Boortmalt, a leading malted barley producer, have produced the first Verified Impact Units (VIUs) by lowering and eliminating on-farm greenhouse gas (GHG) emissions. This achievement demonstrates the potential of climate-smart agriculture and the Global Carbon Farming Program, as well as the importance of connecting farmers with stakeholders throughout the value chain to develop scalable solutions.
BASF's Global Carbon Farming Program, powered by Xarvio Digital Farming Solutions, has helped barley farmers in Ireland adopt sustainable methods, including cover crops. These initiatives resulted in an average savings of 2.3 tons CO2e per hectare, cutting GHG emissions by nearly 90% and bringing barley production closer to net zero. This is a key milestone for companies looking for a way to certify the impact of on-farm initiatives that help lower scope 3 emissions and achieve Science Based Targets Initiative (SBTi) obligations.
Farmers are rewarded for sustainable practices that improve the environment while maintaining productivity through credible verification and certification. BASF continues to collaborate with the food value chain and farmers on the Carbon Farming Program, providing them with creative solutions for sustainable agriculture.
BASF plans to expand its Global Carbon Farming Program in the future by collaborating with partners throughout the world on a variety of crops to provide similar advantages to diverse value chains. The insights obtained from this program are also highly significant for Boortmalt as it grows its ambitious regenerative agriculture program across multiple regions, adapting it to each country. In accordance with its SBTi commitments, the company intends to promote the transition to regenerative agriculture methods and lower barley emissions by 30.3% by 2030 compared to the baseline in 2023.
Shares of BASFY have lost 1.5% over the past year compared with a 10.8% decline of its industry.
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BASFY’s Rank & Key Picks
BASFY currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Methanex Corporation MEOH and Axalta Coating Systems Ltd. AXTA
Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 218.2% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Methanex, which currently carries a Zacks Rank #2, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 85.2%, on average. MEOH’s shares have gained 1.5% over the past year.
Axalta Coating Systems, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have rallied 10.7% over the past year.