OCP Group

OCP & Fortescue to partner in green energy, hydrogen and ammonia in Morocco

Abdelaziz.Barzani — Mon, 08 Apr 2024 15:23:33 +0000

OCP & Fortescue to partner in green energy, hydrogen and ammonia in Morocco Abdelaziz.Barzani Mon, 04/08/2024 - 15:23 OCP & Fortescue to partner in green energy, hydrogen and ammonia in Morocco Today, OCP Group, a global leader in plant nutrition and phosphate-based... Press 2024 08 Apr 2024

Today, OCP Group, a global leader in plant nutrition and phosphate-based fertilizers, and Fortescue Energy, part of global green energy, metals and technology company Fortescue Ltd (Fortescue), announced a landmark Joint Venture (JV) in Morocco. This equal partnership aims to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets. It includes the potential development of manufacturing facilities and an R&D hub to advance the rapidly growing renewable energy industry in Morocco.

Fortescue and OCP Group, leaders in iron ore and phosphate respectively, are united in their goal to reach their emissions reductions targets. They share a common vision for the pivotal role of green hydrogen and ammonia in forging a sustainable future globally.

The partners have laid out proposed plans for four cornerstone projects in Morocco:

Large-scale integrated green ammonia and green fertilizer production capacity, including renewables, energy generation, electrolysis, ammonification and fertilizer production;
Manufacturing of green technology and equipment;
An R&D and Technology Hub, located alongside Mohammed VI Polytechnic University (UM6P) near Marrakech, to bolster the JV, the ecosystem and other players, with research in renewable energy, green hydrogen and minerals processing; and
Collaboration of corporate venture capital funds to drive investment in key technology advancements.

The partners’ objective is to supply green hydrogen and ammonia for use both as sources of green energy and in the manufacture of carbon-neutral and customized fertilizers that are accessible and affordable for farmers around the world.

Mostafa Terrab, Chairman and CEO of OCP Group, said: “Our strategic partnership with Fortescue is a testimony to our joint commitment to decarbonisation, driving the development of cutting-edge facilities and delivering competitive renewable energy, products and technology.

This is a key step towards fulfilling our vision of simultaneously ensuring global food security and combating climate change.”

Dr Andrew Forrest AO, Fortescue Executive Chair and Founder said: “Together, Fortescue and OCP will build a world-leading and globally competitive platform to accompany Morocco's journey into a green energy production, manufacturing, and industrial powerhouse.

Together, we will be a key originator and green corridor into Europe and to and from the Atlantic basin.

Morocco will be a major player in the global energy transition given it is home to some of the world’s most prospective wind and solar resources, two large coastlines, and is in close proximity to Europe and the Americas.

We are proud to partner with OCP, a global industrial leader, with a shared ambitious commitment to invest in renewable energy, products and technology to reduce global emissions.”

Fortescue Energy CEO, Mark Hutchinson added: “OCP and Fortescue are fully aligned on their ambitions. We intend to create in Morocco one of the world’s leading integrated renewable energy, manufacturing, and technology enterprises, supplying not only a large and growing domestic market for green products, but also with the potential to supply other countries and continents.

This is a very significant moment for Fortescue, OCP Group and Morocco as we help revolutionize the way we power our planet and diversify the world’s future energy security, while creating thousands of jobs and industries in Morocco.”

These proposed projects will also leverage the expertise of INNOVX, a multi-sectoral venture platform that is dedicated to building innovative and sustainable businesses, and contributing to creating emerging ecosystems with a strong local impact.

Today’s agreement underlines OCP Group’s and Fortescue’s shared vision to help make Morocco a green energy production, manufacturing and industrial powerhouse, with significant long-term benefits for Morocco.

The venture is subject to customary closing conditions, including regulatory approvals.

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With over a century of expertise and a turnover of more than USD 9 billion in 2023, OCP is the world leader in plant nutrition solutions and phosphate-based fertilizers. Headquartered in Morocco and present on five continents, OCP has approximately 20,000 employees and works closely with over 350 customers around the world. OCP recently launched a green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The strategy foresees an overall investment of approximately USD 13 billion over the period 2023-2027, which will enable the Group to use 100% renewable energy by 2027 and achieve full carbon neutrality by 2040 (Scope 1 and 2 by 2030, and Scope 3 by 2040). The strategy also aims to reach a water desalination capacity of 560 million m3 in 2026 and to increase the production of green fertilizers. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: ocpgroup.ma

About Fortescue

Fortescue is focused on becoming the number 1 integrated green energy, metals and technology company, recognised for its culture, innovation and industry-leading development of infrastructure, mining assets and green energy initiatives. It operates with two divisions – Metals and Energy. Fortescue is committed to producing green hydrogen, containing zero carbon, from renewable electricity. Green hydrogen is a zero-carbon fuel that, when used, produces primarily water. It is a practical and implementable solution that can help revolutionise the way we power our planet: helping to decarbonise heavy industry and create jobs globally. Fortescue is leading the green industrial revolution, building a global portfolio of renewable green hydrogen and green ammonia projects, while also leading the global effort to help decarbonise hard-to-abate sectors. This includes developing and acquiring the technology and energy supply to help decarbonise the Australian iron ore operations of one of the world’s largest producers of iron ore, Fortescue Metals, by 2030 (Scope 1 and 2 terrestrial emissions).

For more information: fortescue.com

Press contacts

OCP Group

international.media@ocpgroup.ma

Fortescue

media@fortescue.com

1800 134 442

Plain Background

Joint Press Release - 08-04-2024 - OCP Fortescue.pdf

OCP and Fortescue to partner to develop green energy, hydrogen and ammonia in Morocco 190048

3 loan agreements between the AfDB and OCP Group for green investment

Abdelaziz.Barzani — Tue, 20 Feb 2024 12:01:35 +0000

3 loan agreements between the AfDB and OCP Group for green investment Abdelaziz.Barzani Tue, 02/20/2024 - 12:01 3 loan agreements between the AfDB and OCP Group for green investment 3 loan agreements between the AfDB and OCP Group for green investment Press 2024 20 Feb 2024

Signing of 3 loan agreements between the African development bank and OCP Group: 188 million dollars for green investment.

• 150 million dollars from the African development bank, 18 million dollars from the Canada Climate Fund – African development bank, and 20 million dollars from the Clean Technology Fund.

The African development bank and OCP Group have signed three loan agreements in Rabat, totaling 188 million dollars as part of the financing for OCP Group's Green Investment Program.

The first loan, amounting to 150 million dollars from the African development bank, and the second loan amounting to 18 million dollars from the Canada Climate Fund – African Development Bank, will be used to finance the construction of three modular seawater desalination plants. These plants from OCP Group, a world leader in sustainable plant and soil nutrition solutions, will have a total annual capacity of 110 million m3. In addition to providing OCP Group's industrial and mining sites with non-conventional water autonomy, the project will supply up to 75 million m3 of drinking water to the cities of Safi, El Jadida, and the areas neighboring OCP Group's Safi and Jorf plants. More than 1.5 million people will benefit from this drinking water.

The third loan, amounting to 20 million dollars from the Clean Technology Fund, will be used to finance energy storage systems generated from renewable sources. These systems will power desalination plants and other productive units of OCP Group.

This financing is an example of the support that the African development bank, the Canada Climate Fund – African development bank (CACF), and the Clean Technology Fund (CTF) intend to provide in the fight against climate change, both in terms of adaptation and mitigation of its effects. It also aims to support the most vulnerable populations, among others, by supplying drinking water and by creating jobs, including for youth and women, as well as in rural areas.

The projects are essential components of OCP Group's Green Investment Program and are part of the Emergency Plan for Drinking Water Supply initiated by the Moroccan government.

The financing agreements were signed by Mr. Ousmane Fall, director of the Industrialization and Trade Development Department at the African development bank, and Mr. Karim Lotfi Senhadji, Chief Financial Officer of OCP Group. Representatives of the Canadian government also attended the signing of the loan agreements, marking the contribution of the CACF and strengthening common commitments against climate change and for the empowerment of women. Furthermore, the closure of this financing operation represents the first non-sovereign financing signed under the CACF. They reinforce the long-term partnership between the African development bank and the Kingdom of Morocco in its efforts to address the challenges of climate change.

“We are proud to be associated with this ambitious project that provides a strategic response to the increasing water stress in Morocco. The project will also optimize the management of water resources in OCP's industrial activities by using desalinated seawater”, appreciated Achraf Tarsim, the head of the African development bank's country office in Morocco.

“We greatly appreciate these loans, which represent significant contributions to our $13 billion investment program from 2023 to 2027. Our sustainability goals aim to achieve 100% non-conventional water by 2024, 100% renewable energy by 2027, self-sufficiency in green ammonia by 2032, and total carbon neutrality by 2040”, said Karim Lotfi Senhadji, Chief Financial Officer of OCP Group.

“We are pleased to see that this fund is being effectively deployed in Morocco to help address climate challenges. We are delighted to be associated with it alongside our partners: the African development bank and OCP Group”, emphasized Jean Touchette, advisor and head of cooperation at the Canadian Embassy in Morocco.

Since 1978, the African development bank has deployed more than 180 operations in various sectors in Morocco, totaling 12 billion euros.

About the African Development Bank Group

The African Development Bank Group (AfDB) is the leading multilateral development finance institution dedicated to the development of Africa. It comprises three distinct entities: the African development bank (AfDB), the African development fund (ADF) and the Nigeria trust fund (NTF). The AfDB operates on the ground in 44 African countries, with an external office in Japan, contributing to the economic development and social progress of its 54 regional Member States.

For more information: https://www.afdb.org/en

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With over a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP Group is the world leader in sustainable plant and soil nutrition solutions. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP Group recently launched a new green investment strategy, dedicated to increasing sustainable plant and soil nutrition solutions, and investing in renewable energy. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: www.ocpgroup.ma

Media Contact :

Department of communication and External Relations

media@afdb.org

OCP Group

international.media@ocpgroup.ma

Plain Background

CP OCP GROUP & BAD_20022024_vUK.pdf

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4th edition of the Focus report « Agriculture in Africa 2023 »

Abdelaziz.Barzani — Mon, 11 Dec 2023 09:11:08 +0000

4th edition of the Focus report « Agriculture in Africa 2023 » Abdelaziz.Barzani Mon, 12/11/2023 - 09:11 4th edition of the Focus report « Agriculture in Africa 2023 » Oxford Business Group (OBG) has unveiled the fourth edition of the focus... 11 Dec 2023

Oxford Business Group (OBG) has unveiled the fourth edition of the focus report titled “Agriculture in Africa 2023”, produced in collaboration with OCP Group.

This comprehensive report explores the roles of local communities, female and youth-focused initiatives in cultivating innovation and sustainable, inclusive growth within Africa’s agricultural landscape. It underscores the importance of transitioning to knowledge-based farming systems and highlights initiatives from various organisations across different subsegments that are paving the way for empowering Africa’s local communities, youth and women to shape sustainable agri-food systems.

The report emphasises initiatives aimed at empowering farmers, particularly women, and addressing gender-based financing and disparities. Additionally, it highlights the role of technology and innovation in shaping the future of sustainable African agriculture and discusses youth-focused programs, entrepreneurship initiatives, and education and training opportunities in this sector.

The report is now available to view and download at: report link

Plain Background Sustainability 2023 No

OCP Group signs the UN Climate Change High-Level Champions Call to Action

Abdelaziz.Barzani — Fri, 01 Dec 2023 21:19:46 +0000

OCP Group signs the UN Climate Change High-Level Champions Call to Action Abdelaziz.Barzani Fri, 12/01/2023 - 21:19 OCP Group signs the UN Climate Change High-Level Champions Call to Action OCP Group signs the UN Climate Change High-Level Champions Call to Action.. Press 2023 01 Dec 2023

OCP Group, the leading global plant nutrition company and the world’s largest producer of phosphate-based fertilizers, today announces that it has signed the UN Climate Change High-Level Champions’ Call to Action for Transforming Food Systems for People, Nature, and Climate, on the eve of the start of COP28.

The Call to Action mobilises collective efforts around a shared vision of sustainable food systems to deliver significant, measurable progress for people, nature, and climate by 2030.

Through this endorsement, OCP recognises the urgent need to drive a just global agricultural transition to transform our food system into one that is resilient, fair, and sustainable. We need to radically change the way we farm to achieve zero hunger while combatting climate change, managing our impact on nature and the environment and supporting local communities. As a proudly African company, OCP is leading by example, investing across its supply chain to ensure that it is carbon neutral (Scope 1, 2 and 3) by 2040.

With increasing pressure on the world’s available arable land from climate change and population growth, rebalancing our soils is essential. By keeping soils healthy, particularly through customised fertilisers that are tailored to each crop, soil and local climate, and by ensuring that these nutrients are applied at the right time, in the right place and at the right rate, farmers can play a decisive role not only to decarbonise agriculture, but also to sequester carbon, while improving both crop yields and the nutritional value of food.

OCP is developing the science, technology and products needed to achieve these vital goals. Our ambitious Green Investment Programme ($13bn by 2027) will establish a leading global industrial ecosystem and drive the development of sustainable, climate positive agriculture solutions. Solar and wind projects will enable us to run 100% of our operations on renewable energy by 2027 and produce the green hydrogen and green ammonia we need to reach full carbon neutrality by 2040.

As the continent with the fastest growing population, the greatest crop yield potential, and a large proportion of the world’s unused arable land, OCP believes that Africa must kickstart, drive and champion this much-needed agricultural transition.

Iliass El Fali, Managing Director, Head of Corporate Strategy, Sustainability and Innovation, OCP said: “We are supporting the call to unlock the potential of food systems as one of the main sustainable solutions for people, nature and climate.

“OCP is developing the science, technology and products to improve soil health and accelerate a just transition to climate positive agriculture and make food systems more resilient.

“By providing farmers with customized fertilizers and plant nutrition solutions to improve yields and by building partnerships with organizations like the UN, OCP is leading efforts to work towards a more resilient global food system.”

For more information on the UN Climate Change High-Level Champions’ Call to Action: https://climatechampions.unfccc.int/transforming-food-systems-for-people-nature-andclimate- a-shared-call-to-action/

For more information on Sustainability at OCP Group, see our Sustainability Report: www.ocpgroup.ma/sustainability

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP Group is the world leader in plant nutrition solutions and phosphate-based fertilizers. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP Group recently launched a new green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: www.ocpgroup.ma

Plain Background

CP OCP GROUP & UNFCC_02122023_vUK.pdf

OCP Group signs the UN Climate Change High-Level Champions Call to Action 134079

OCP Group extends its leadership on building a sustainable future for all

Abdelaziz.Barzani — Mon, 27 Nov 2023 15:40:58 +0000

OCP Group extends its leadership on building a sustainable future for all Abdelaziz.Barzani Mon, 11/27/2023 - 15:40 OCP Group extends its leadership on building a sustainable future for all OCP Group, the global leader in plant nutrition and the world’s largest... Press 2023 27 Nov 2023

OCP Group, the global leader in plant nutrition and the world’s largest producer of phosphatebased fertilizers, is committed to supporting the world’s fast-growing population in achieving a sustainable, food secure future. OCP Group’s leading contributions to sustainability as a whole and to this crucial goal specifically, have again been recognized by the World Benchmarking Alliance (“WBA”) in their newly released 2023 benchmarks. The WBA is a global corporate benchmarking initiative which independently assesses the private sector’s contributions to achieving the UN’s SDGs.

WBA confirms OCP Group as the global industry leader in progressing the food systems transformation

The WBA has again recognized OCP Group’s leadership in helping to achieve the SDGs related to food systems and agriculture by tackling the dual challenge of climate change and global food security simultaneously, ranking OCP Group as the number one performer amongst 44 global peers in the agricultural input industry and number four amongst 350 peers in the global agricultural & food industry. OCP Group has maintained these rankings since 2021, being assessed on indicators such as governance and strategy, environment, nutrition, and social inclusion.

WBA additionally recognizes OCP Group as a leader in protecting the nature, environment and biodiversity

The WBA has additionally recognized OCP Group’s efforts in protecting the environment and biodiversity within their newly launched Nature Benchmark, with OCP Group being ranked as number eight amongst 380 companies, and as number three amongst 44 of its global peers in the agricultural input industry. Notably, the WBA applauded OCP Group’s significant achievements in reducing its carbon emissions and its use of non-conventional water sources.

As part of these efforts, OCP Group is pursuing a $13bn Green Investment Program to meet its demanding targets of full carbon neutrality by 2040, water self-sufficiency by 2024 and sourcing 100% of its electricity needs from renewables by 2027. Simultaneously, the company is also increasing the production of the green fertilizers that will be vital to ensure the food security of the growing global population while also preserving the environment and climate.

For more information on Sustainability at OCP Group, see our Sustainability Report:

www.ocpgroup.ma/sustainability

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP Group is the world leader in plant nutrition solutions and phosphatebased fertilizers. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP Group recently launched a new green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

Plain Background

CP OCP GROUP & WBA_27112023_vUK.pdf

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OCP, UM6P et Regrow sign a partnership to develop a MRV system

Abdelaziz.Barzani — Fri, 03 Nov 2023 18:24:22 +0000

OCP, UM6P et Regrow sign a partnership to develop a MRV system Abdelaziz.Barzani Fri, 11/03/2023 - 18:24 OCP, UM6P et Regrow sign a partnership to develop a MRV system OCP Group, the world’s largest phosphate-based fertilizer producer Press 2023 03 Nov 2023

OCP Group, the world’s largest phosphate-based fertilizer producer, the University Mohammed VI Polytechnic (UM6P), and American agriculture startup Regrow have signed a strategic partnership to develop an MRV (Measuring, Reporting, and Verification) system specific to African soil.

The system is based on the biogeochemical “DNDC” model (DeNitrification-DeComposition), a globally calibrated and validated scientific model, recognized by reference standards. The objective of the project is to explore the potential of soil to sequester carbon, boost its fertility, and improve equitable access to the carbon market, thereby promoting soil health on the continent.

The project will provide African farmers with access to a state-of-the-art MRV (Measuring, Reporting, and Verification) system at a competitive cost compared to conventional MRV systems. It will also encourage them to adopt sustainable agricultural practices, improve their soil health and yield, and develop an additional income streams through carbon credits.

MRV (Measuring, Reporting, and Verification) systems are essential pre-requisites for the certification of carbon sequestration projects, which consists of investing in soil carbon fixation programs through the adoption of sustainable agricultural practices. However, the cost of conventional carbon dioxide (CO2) quantifying methods via direct soil analysis constitutes a barrier of entry for project developers, as well as farmers (particularly African ones), wishing to adopt more sustainable agricultural practices that are likely to generate carbon credits. The digitalization of MRV (Measuring, Reporting, and Verification) would remove this obstacle and respond to the needs to quantify CO2eq in an agile and more affordable manner.

A crucial consequence of this project will be the development and implementation of a digital platform, with a user-friendly interface containing key farmer characteristics, management data inputs, carbon project tracking, and a link with teledetection tools based on Regrow’s satellite imagery, as well as the validated and calibrated DNDC model.

OCP Group, UM6P, and Regrow support the sustainable transformation of agricultural systems to feed the planet and fight climate change. This project is only the beginning of a larger collaboration between the stakeholders to promote soil health and carbon sequestration. Thanks to this partnership, OCP Group reaffirms its position as a leader in the transition to a green and sustainable agriculture in Africa.

“The OCP Group works hand-in-hand with its partners and farmers to implement sustainable practices to improve soil health, contribute to global food security, and combat global warming. This project to adapt the DNDC model to African soil with UM6P and Regrow is an important step to unlock the potential of Africa in this global effort. OCP thereby affirms its commitment to African farmers, particularly the smallholder ones,” Naoufal Mahdar, Vice-President of Climate Action & Decarbonization at OCP Group, emphasizes.

“We are delighted to be joining forces to promote resilient, equitable and sustainable food systems in Africa, with the aim of ensuring food and nutritional security for all. This partnership represents a firm commitment to actively participate in the fight against climate change by understanding the carbon storage capacity of African soils,” declared Mr. Hicham EL Habti, President of UM6P.

William A. Salas, Regrow’s Chief Strategy Officer, commented, “Regrow is focused on improving agricultural resilience. Approximately half of Africa’s workforce is employed in farming, which further underscores why advancing agricultural productivity is crucial to the continent’s economic prospects. Regrow is pleased to be partnering with OCP, a leading agribusiness, and UM6P to positively impact farmer livelihoods.”

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP is the world leader in plant nutrition solutions and phosphate based fertilizers. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP recently launched a new green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The strategy foresees an overall investment of approximately $13 billion over the period 2023-2027, which will enable the Group to use 100% renewable energy by 2027 and achieve full carbon neutrality by 2040. The strategy also aims to reach a water desalination capacity of 560 million m3 in 2026 and to increase the production of green fertilizers. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: www.ocpgroup.ma

About University Mohammed VI Polytechnic (UM6P)

Mohammed VI Polytechnic University (UM6P) is a Moroccan non-profit research university. Its main campus is located in Benguerir, near Marrakech, with branches in Rabat, Laayoune and Paris. The university is an applied research and innovation-oriented institution committed to economic and human development, with a focus on Africa.

UM6P prioritizes research and innovation relevant to Morocco and Africa by focusing on topics such as industrialization, food security, sustainable development, industrialization, mining, behavioral and social sciences. It federates a number of schools and research institutes, covering science and technology (agriculture, mining, energy, medicine, chemistry, computer science), social sciences and business administration.

The University welcomed its first cohort of students in 2013 before being officially inaugurated on January 12, 2017. Since then, it has continued to grow into a leading research institution dedicated to collaboration between Africa and the rest of the world. As such, UM6P has entered into numerous partnerships with universities in Africa, Europe, Asia and the Americas.

For more information: www.um6p.ma

About Regrow

Regrow Ag powers Agriculture Resilience globally for today’s leading retailers, CPGs, processors, and farmers. Named one of the TIME100 Most Influential Companies of 2023, its rapidly growing list of partners includes Cargill, General Mills, and Kellanova. With Regrow’s Agriculture Resilience Platform, companies across the ag supply chain gain the ability to perpetually ensure profitable supply and protect operational integrity by accelerating the needed scale of GHG emissions reduction, adoption of regenerative farming practices, and proactive adaptation to the changing climate. Regrow earned the standing of No. 41 on Fast Company’s list of the World’s 50 Most Innovative Companies in 2023, and was named the No. 1 Most Innovative Company in Agriculture.

For more information: www.Regrow.ag

Plain Background

CP OCP GROUP_MRV_03122023_vUK.pdf

OCP Group, UM6P, and American startup Regrow collaborate to develop a carbon stock monitoring and ve 198179

U.S. DOC Announces Results of First Administrative Review of CVDs

Abdelaziz.Barzani — Thu, 02 Nov 2023 21:56:12 +0000

U.S. DOC Announces Results of First Administrative Review of CVDs Abdelaziz.Barzani Thu, 11/02/2023 - 21:56 U.S. DOC Announces Results of First Administrative Review of CVDs OCP welcomes the final results announced by the U.S. Department of Commerce 02 Nov 2023

OCP welcomes the final results announced by the U.S. Department of Commerce (DOC) in the first administrative review of the countervailing duty order on certain Moroccan phosphate fertilizer imports into the United States. The result is a reduction in the overall tariff rate from 19.97% to 2.12%. This new and far lower rate will be the final tariff rate applied to our 2021 imports, and will also serve as the new provisional rate required to be deposited with U.S. Customs for imports occurring from November 2023 and onward until the conclusion of the next administrative review in Q4 2024. At that time, the rate will again be updated.

We are very pleased that the DOC has taken account of the detailed evidence provided by OCP during the DOC’s first administrative review and verification process. This result reflects OCP’s commitment to cooperate fully with the DOC review and verification process, leading to a markedly reduced tariff based on the DOC’s more thorough review of the facts.

OCP continues to believe that there is no justification for any tariffs on our US fertilizer imports. We therefore look forward to the DOC’s and the US International Trade Commission’s redeterminations in the next few months in response to the remand orders issued in September 2023 by the US Court of International Trade. We remain, as always, ready to provide the US agencies with any further information they may require to complete their redeterminations. We are grateful to all those voices representing US farmers who spoke out loudly in opposition to these duties. And we remain eager to resume our role of serving as a reliable, high-quality provider of sustainable phosphate fertilizers that are essential in enabling US farmers to feed their fellow citizens and the wider world.

Plain Background 2023 No

TDB, MIGA and OCP to enhance collaboration in Africa to boost food security

Abdelaziz.Barzani — Thu, 12 Oct 2023 17:29:45 +0000

TDB, MIGA and OCP to enhance collaboration in Africa to boost food security Abdelaziz.Barzani Thu, 10/12/2023 - 17:29 TDB, MIGA and OCP to enhance collaboration in Africa to boost food security TDB, MIGA and OCP Group to enhance collaboration in Africa to boost food... Press 2023 12 Oct 2023

The Eastern and Southern African Trade and Development Bank (TDB), the Multilateral Investment Guarantee Agency (MIGA) and OCP Group have signed a Memorandum of Understanding (MoU) today, during the World Bank Group and International Monetary Fund Annual Meetings, to enhance collaboration in addressing agriculture and food security challenges in Africa.

Specifically, the three parties have agreed to identify suitable areas for deploying MIGA’s risk mitigation instruments. They have expressed willingness to collaborate in trade finance transactions, using MIGA’s guarantees for the importation of strategic commodities including fertilizers in Africa.

This collaboration aims to enhance food security, promote employment and farmers’ livelihoods, secure their access to international markets, bolster productivity, and increase foreign exchange availability and earnings by facilitating the export of commercial crops.

This MoU follows a first-of-its-kind credit enhancement facility signed in 2020 between MIGA and TDB via which MIGA provided a 10-year guarantee for commercial bank financing extended to TDB with longer tenors and lower interest rates. This facility has so far succeeded in supporting transactions worth over USD 300 million in TDB member states, making it possible for their corporates, financial institutions, and public sector to import commodities which are vital to their food and energy security, foreign exchange earnings, employment, and tax revenues.

The MoU further strengthens TDB’s long-standing relationship with OCP Group, thanks to which, USD 2 billion of fertilizer imports from Morocco were facilitated into the TDB region over the past six years.

Among several milestones, TDB and OCP Group collaboratively executed the first-ever intra- Africa trade finance transaction using blockchain technology. In 2022 alone, three-quarters of the USD 700 million in transactions OCP Group and TDB completed together were realized using this technology, resulting in important savings in terms of time, costs and carbon footprint.

The parties expect to enhance their cooperation in promoting stable and sustainable economic growth and further economic and trade cooperation in Africa.

Admassu Tadesse, TDB Group President Emeritus and Managing Director said: “With this MoU, we are expanding our strategic partnerships with both MIGA and OCP Group, with whom we have successfully rolled-out pioneering and impactful trade finance solutions. We look forward to doing more together to promote intra-African trade, and help our region better source the essential commodities it needs to safeguard socio-economic development, especially during this complex period marked by severe global shocks and macroeconomic challenges.”

Hiroshi Matano, Executive Vice President of MIGA said: “Food security is a high priority for MIGA, and we look forward to working more closely with TDB and OCP, our long-standing partners, to help support food security challenges as well as access to trade finance in Africa by providing de-risking solutions to the exporter and a regional development bank. MIGA is eager to expand partnerships to support economic advancement in emerging markets.”

Mostafa Terrab, Chairman and CEO of OCP Group said: “OCP is actively supporting African farmers through the reliable supply of cost-effective crop nutrients, tailored to boost yields based on specific crops, soils and local conditions. This agreement with TDB and MIGA builds on our successful track record of co-operation in promoting food security, enhancing the livelihoods of farmers and fostering sustainable rural development across Africa.”

About TDB

Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a regional development finance institution with investment-grade ratings and assets totaling USD 8.4 billion. TDB serves 25 economies in its region, with the mandate to finance and foster trade, regional economic integration, and sustainable development.

TDB is part of TDB Group, which also comprises the Trade and Development Fund (TDF), Eastern and Southern African Trade Advisers Limited (ESATAL), TDB Captive Insurance Company (TCI), and the TDB Academy.

For more information: www.tdbgroup.org

About MIGA

MIGA was created in 1988 as a member of the World Bank to promote foreign direct investment in emerging economies by helping to mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance; and offering credit enhancement to private investors and lenders. Since its creation, MIGA has issued over $76 billion in guarantees across 123 developing countries, supporting more than 1,000 projects. Over the past decade, MIGA’s guarantees have generated more than 156,000 jobs in developing countries.

For more information:

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP is the world leader in plant nutrition solutions and phosphatebased fertilizers. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP recently launched a new green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The strategy foresees an overall investment of approximately $13 billion over the period 2023-2027, which will enable the Group to use 100% renewable energy by 2027 and achieve full carbon neutrality by 2040. The strategy also aims to reach a water desalination capacity of 560 million m3 in 2026 and to increase the production of green fertilizers. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: www.ocpgroup.ma

Contact

• Trade and Development Bank (TDB)

Anne-Marie Iskandar

Senior Communications Officer Corporate Affairs and Investor Relations

Email: Anne-Marie.Iskandar@tdbgroup.org

• OCP Group

Email: International.media@ocpgroup.ma

• Multilateral Investment Guarantee Agency (MIGA)

Subhash Ghimire

Email: sghimire1@worldbank.org

Plain Background

CP_OCP_GROUP_IFC_SOLAR_10102023_vUK.pdf

TDB, MIGA and OCP Group to enhance collaboration in Africa to boost food security. 203239

OCP and the World Bank Join Forces in West Africa

Abdelaziz.Barzani — Wed, 11 Oct 2023 14:03:10 +0000

OCP and the World Bank Join Forces in West Africa Abdelaziz.Barzani Wed, 10/11/2023 - 14:03 OCP and the World Bank Join Forces in West Africa The partnership will unlock opportunities for African farmers to improve... Press 2023 11 Oct 2023

The partnership will unlock opportunities for African farmers to improve agricultural productivity and soil health through the use of customized fertilizers and sustainable farming practices.

The World Bank and the OCP Group today announced a game changing partnership to support farmers in West Africa and the Sahel.

At the World Bank and IMF Annual Meetings in Marrakech, the OCP Chairman and CEO Mostafa Terrab and World Bank Vice President for Western and Central Africa Ousmane Diagana signed a Memorandum of Understanding (MoU) to foster cooperation and programs benefitting five million farmers in Benin, Guinea, Mali, and Togo, covering 10 million hectares. This cooperation aims at accelerating investments and reforms to make fertilizers more accessible and affordable to farmers. “These projects are an important step towards unlocking Africa’s potential in global food security” said OCP Group’s Chairman and CEO, Mr. Mostafa Terrab. “The goal is to drive a just and sustainable agricultural transition, by widening the access of farmers in West Africa to customized fertilizers that nourish the soil and improve crop yields, which in turn enhances the livelihoods of farmers, thereby contributing to African development and prosperity.”

This is a critical partnership to help achieve the commitments made by the Ministries of Agriculture and Food Security of member countries of the Economic Community of West African States (ECOWAS) in the Lomé Declaration endorsed in May 2023.

“Both our institutions believe in accelerating investments and reforms to support a resilient agriculture that promotes sustainable development and creates jobs. This partnership between the World Bank and the OCP Group is turning the Lomé Declaration into action,” said Ousmane Diagana, World Bank Vice President for Western and Central Africa.

The partnership will focus on five areas of cooperation: (i) Improving soil health and fertility through digital soil mapping analysis and customized fertilization; (ii) Establishing agricultural technology and service centers to train and support smallholder farmers; (iii) Launching a Digital Farming School program to foster local capacities and entrepreneurship to transform the agri-food sector; (iv) Strengthening the capacity of ECOWAS to operationalize its Roadmap on fertilizers and soil health; and (v) Supporting the establishment of a Regional Center for Soil Health and Fertility management in West Africa hosted by the International Institute of Tropical Agriculture (IITA).

Under the partnership, both institutions reaffirm their commitment to the United Nations’ Sustainable Development Goals, in particular SDG 2 on hunger and food security, and SDG 13 on climate change.

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP is the world leader in plant nutrition solutions and phosphatebased fertilizers. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP recently launched a new green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The strategy foresees an overall investment of approximately $13 billion over the period 2023-2027, which will enable the Group to use 100% renewable energy by 2027 and achieve full carbon neutrality by 2040. The strategy also aims to reach a water desalination capacity of 560 million m3 in 2026 and to increase the production of green fertilizers. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: www.ocpgroup.ma

About The World Bank

The World Bank provides financing, global knowledge, and long-term commitment to help low- and middle-income countries end poverty, achieve sustainable growth, and invest in opportunity for all. We comprise the International Bank for Reconstruction and Development (IBRD), the world’s largest development bank, and the International Development Association (IDA), one of the largest sources of funding for the world’s poorest countries. With the other World Bank Group institutions as well as partners across the public and private sectors, we are helping build solutions to the global challenges of the 21st century in all major sectors of development. A world where no one lives in poverty, and everyone has the opportunity for a better life is within our reach

In Western and Central Africa, the World Bank focuses on strengthening the social contract, bolstering job creation and economic transformation, improving human capital, empowering women, and boosting climate resilience

For more information:

https://www.worldbank.org/en/events/2023/05/11/high-level-roundtable-fertilizing-westafrica- feeding-the-soil-to-feed-the-people

Contact

• The World Bank

Caitlin Denise Berczik

Phone: +1 203 458 9351

Email: cberczik@worldbankgroup.org

• OCP Group

Email: International.media@ocpgroup.ma

Plain Background

CP OCP GROUP_OCP & World Bank_11102023_vUK.pdf

OCP Group and the World Bank Join Forces to Boost Food Security and Agricultural Development in West 158827

IFC and OCP launch an agri-finance platform for sustainable food systems

Abdelaziz.Barzani — Tue, 10 Oct 2023 14:44:33 +0000

IFC and OCP launch an agri-finance platform for sustainable food systems Abdelaziz.Barzani Tue, 10/10/2023 - 14:44 IFC and OCP launch an agri-finance platform for sustainable food systems IFC and OCP Group, the world’s largest phosphate-based fertilizer producer. Press 2023 10 Oct 2023

IFC and OCP Group, the world’s largest phosphate-based fertilizer producer, today launched an agri-finance platform to mobilize $800 million of blended capital by 2030. The new platform will build and support sustainable food production and distribution systems in Africa, contributing to skills development, job creation, and food security.

By providing access to finance and skills training, the platform aims to strengthen 30 agricultural value chains across Africa through 60 agri-finance operations. These will cover a range of crop types and will address challenges holding back the sector’s growth and resilience.

Agriculture is vital to Africa’s economy, contributing about 20 percent of the continent’s GDP and more than 60 percent of its employment. However, Africa currently imports a large proportion of its food, reducing the continent’s resilience to external shocks. The platform’s targeted investment strategy will support the sustainable growth of the sector and increase food security across the continent.

“Today we take a major step towards a just African agricultural transformation by mobilizing substantial new financing for African farmers and for the value chains that support them” said Mostafa Terrab, Chairman and CEO of OCP Group. “The partnership between IFC and OCP is working to unlock the full potential of Africa to feed not only itself but the world.”

“Agriculture is a critical sector for Africa, and we are thrilled to scale up our partnership with OCP to improve food production and attract investment to the continent”, said IFC Managing Director, Makhtar Diop. “Both IFC and OCP Group will commit resources to grow the platform and we are keen to attract like-minded partners and potential investors to join us in this important and timely project.”

By building a pipeline of interventions, the platform aims to attract new investors who will be able to participate either directly or indirectly. Each investment will be monitored for its impact against social, economic and environmental measures.

Besides providing funding, the platform will undertake in-depth studies of targeted value chains to identify the challenges facing the sector and design solutions. The platform aims to foster the emergence of African champions and enable best practices to be shared so that success can be replicated across Africa.

The platform has already partnered with Bank of Africa to improve access to fertilizers and other inputs for African farmers and agri-processors. The platform has also designed new projects to support cashew and rice value chains in Côte d’Ivoire and has already started designing new projects in Cameroon, Gabon and other countries.

The development of the platform leverages the expertise of INNOVX, a multi-sectorial venture platform launched by Mohammed VI Polytechnic University (UM6P) that is dedicated to building innovative and sustainable businesses and ecosystems with a strong local impact, and the deep knowledge of OCP Africa (OCP Group’s subsidiary dedicated to the continent).

About IFC

IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.

For more information, visit: www.ifc.org

Stay Connected

About OCP Group

OCP Group helps feed a growing global population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of more than US$ 11.3 billion in 2022, OCP is the world leader in plant nutrition solutions and phosphatebased fertilizers. Headquartered in Morocco and present on five continents, OCP Group has approximately 20,000 employees and works closely with more than 350 customers around the world. OCP recently launched a new green investment strategy, dedicated to increasing fertilizer production and investing in renewable energy. The strategy foresees an overall investment of approximately $13 billion over the period 2023-2027, which will enable the Group to use 100% renewable energy by 2027 and achieve full carbon neutrality by 2040. The strategy also aims to reach a water desalination capacity of 560 million m3 in 2026 and to increase the production of green fertilizers. The Group is firmly convinced that leadership and profitability are synonymous with social responsibility and sustainable development. Its strategic vision sits at the junction of these two dimensions.

For more information: www.ocpgroup.ma

Contact

• IFC

Kamilia Lahrichi

Phone: +212 6 61 09 22 09

Email: klahrichi@ifc.org

• OCP Group

Email: International.media@ocpgroup.ma

Plain Background

CP OCP GROUP & IFC_AGRIFINANCE_09102023_vUK.pdf

IFC and OCP Group Launch $800m Agri-Finance Platform to Build Sustainable Food Systems in Africa. 202975