Title: Transparency and Compliance in the Chemical Industry: A Comparative Study of BASF and Saudi Aramco
Abstract:
This term paper explores the concepts of transparency and compliance in the context of the chemical industry, focusing on two prominent companies, BASF and Saudi Aramco. The paper examines their respective histories, organizational structures, goals and strategies, financial reporting practices, approaches to handling accidents, and concludes with a comparison of their overall transparency efforts. By analyzing these aspects, the study aims to shed light on the importance of transparency and compliance within the chemical industry, while highlighting areas for improvement.
Introduction:
The introduction presents the significance of transparency and compliance in corporate operations, emphasizing their role in building trust, accountability, and sustainable business practices. The chemical industry, with its potential for environmental impact, requires heightened transparency to address stakeholder concerns and maintain public trust. The companies selected for this study, BASF and Saudi Aramco, are introduced as exemplars from the chemical industry, representing different geographical regions and organizational structures.
History of the Companies:
This section provides a historical overview of BASF and Saudi Aramco, highlighting key milestones, growth, and transformation over the years. It explores how the companies have navigated the evolving landscape of the chemical industry, adapting to changing market demands, technological advancements, and environmental challenges.
Organizational Structure:
The organizational structure section examines the hierarchical frameworks of BASF and Saudi Aramco. It compares their decision-making processes, reporting lines, and the levels of decentralization or centralization within the organizations. The analysis considers how these structures influence transparency and compliance within the companies.
Goals and Strategies:
Here, the goals and strategies of both BASF and Saudi Aramco are discussed. The section explores their commitments to sustainability, innovation, and long-term growth. It examines their efforts to address environmental concerns, reduce carbon footprints, and embrace renewable energy sources. The comparison highlights similarities and differences in their approaches to sustainability and transparency.
Financial Reporting:
The financial reporting section delves into the transparency of financial data provided by BASF and Saudi Aramco. It examines the availability, comprehensiveness, and accessibility of their financial reports. BASF's long-standing commitment to transparent financial reporting is highlighted, along with the provision of country-specific reports. The study also acknowledges Saudi Aramco's recent progress in financial transparency following its IPO, while noting the need for further improvements.
Handling Accidents:
This section investigates how BASF and Saudi
This article discusses trends in the global polyurethanes market, which was valued at 16,432 kilo tons in 2014. The market is expected to grow at a CAGR of 5.0% until 2020, reaching 22,058.4 kilo tons. Raw material prices are projected to remain stable during this period. Waterborne polyurethane coatings are seeing increasing demand due to their low VOC content and applications in automotive, flooring, and industrial coatings sectors. Regulatory frameworks favoring reduced VOC emissions are expected to further drive demand for waterborne polyurethane coatings. Major players in the polyurethanes market include BASF SE, Dow Chemical, Huntsman, and B
The document discusses China's growing investment in Africa over the past decade. It notes that China has relatively scarce natural resources compared to Africa, which is resource-rich. This has made Africa an attractive destination for Chinese investment as Chinese firms look to secure supplies of resources. The document provides statistics showing rapid growth in Chinese FDI in Africa from $2.11 billion in 2010 to $35 billion in 2015. It notes the top sectors for Chinese investment in Africa are transportation and metals, with transportation investment rising from $17 billion to $20 billion between 2015-2016. Overall the document examines China's strategic push to invest in Africa's resources and infrastructure to support its own economic growth.
The document summarizes the past and present business models of the global industrial packaging industry. It discusses how the industry transitioned from family-owned cooperage and drum making businesses to large multi-national corporations. It outlines the current major business models: 1) family-owned reconditioners, 2) large national/global reconditioners, 3) stand-alone manufacturers, and 4) blended manufacturer/reconditioner companies. The document introduces a panel discussion on predicting the future of these business models in the industry.
This document provides information about chemical parks in the German state of Hessen that offer professional sites and services for the pharmaceutical, biotechnology, and chemical industries. It discusses the benefits that companies can realize by locating within a chemical park rather than establishing a solitary site. Key benefits mentioned include access to reliable infrastructure and utilities that help maximize production safety and minimize downtime. The document also profiles several major chemical parks in Hessen, including their locations and key tenant companies. It promotes Hessen's chemical parks as excellent locations for companies across various sectors of the chemicals value chain.
Chemical parks in Germany bring together companies from across the chemical value chain at a single site to benefit from shared infrastructure and resources. Germany's central location and unique geography have contributed to the success of over 60 chemical parks that are home to about 240,000 employees. Chemical parks reduce costs for companies by providing utilities, waste management, logistics and other services so companies can focus on chemical production. The integrated infrastructure of pipelines and resources at chemical parks allows for production of a wide range of chemicals from basic to specialty.
The document summarizes key discussions and presentations from the Stewardship 2015 conference in Salt Lake City. Several hundred product stewardship professionals attended the conference to discuss challenges in their industry, including environmental issues, regulatory compliance, and supply chain communications. Presentations focused on updates to regulations like GHS, REACH, and TSCA from representatives in the US, Canada, and Europe. Additional topics included risk management in the supply chain, data management for stewardship programs, and communicating with workers and the public about product impacts and risks.
High Performance Polyamides – A Global Market OverviewIndustry Experts
Mega trends in the automotive, electrical & electronics and oil & gas sectors are expected to spur the demand for high performance polyamides in the future. In the automotive industry, growth is supported by metal replacement to reduce vehicle weight, while thinner and smaller components in electronic devices. Further, the development of unconventional oil and gas technologies to spur the demand for the specialty polyamides. Global volume consumption of High Performance Polyamides is forecast to be 217.4 thousand metric tons in 2016 and is projected to reach 271.1 thousand metric tons by 2022 at a CAGR of 3.7% between the two years.
The document summarizes the key findings of an annual report on the top 50 largest chemical companies globally in 2014. It finds that while overall chemical sales declined slightly, profits rose. Specifically:
- Falling oil prices led to lower chemical sales but higher profits at the top chemical makers. Sales declined less than 1% while profits rose 3.8%.
- Companies closer to oil/petrochemicals lost ground to downstream specialty chemical makers as oil-based competitors cut prices. Five companies dropped from the list.
- BASF remained the largest chemical company for the 9th year. Dow regained the #2 spot. Sinopec fell to #3 due to high costs in China.
This article discusses trends in the global polyurethanes market, which was valued at 16,432 kilo tons in 2014. The market is expected to grow at a CAGR of 5.0% until 2020, reaching 22,058.4 kilo tons. Raw material prices are projected to remain stable during this period. Waterborne polyurethane coatings are seeing increasing demand due to their low VOC content and applications in automotive, flooring, and industrial coatings sectors. Regulatory frameworks favoring reduced VOC emissions are expected to further drive demand for waterborne polyurethane coatings. Major players in the polyurethanes market include BASF SE, Dow Chemical, Huntsman, and B
The document discusses China's growing investment in Africa over the past decade. It notes that China has relatively scarce natural resources compared to Africa, which is resource-rich. This has made Africa an attractive destination for Chinese investment as Chinese firms look to secure supplies of resources. The document provides statistics showing rapid growth in Chinese FDI in Africa from $2.11 billion in 2010 to $35 billion in 2015. It notes the top sectors for Chinese investment in Africa are transportation and metals, with transportation investment rising from $17 billion to $20 billion between 2015-2016. Overall the document examines China's strategic push to invest in Africa's resources and infrastructure to support its own economic growth.
The document summarizes the past and present business models of the global industrial packaging industry. It discusses how the industry transitioned from family-owned cooperage and drum making businesses to large multi-national corporations. It outlines the current major business models: 1) family-owned reconditioners, 2) large national/global reconditioners, 3) stand-alone manufacturers, and 4) blended manufacturer/reconditioner companies. The document introduces a panel discussion on predicting the future of these business models in the industry.
This document provides information about chemical parks in the German state of Hessen that offer professional sites and services for the pharmaceutical, biotechnology, and chemical industries. It discusses the benefits that companies can realize by locating within a chemical park rather than establishing a solitary site. Key benefits mentioned include access to reliable infrastructure and utilities that help maximize production safety and minimize downtime. The document also profiles several major chemical parks in Hessen, including their locations and key tenant companies. It promotes Hessen's chemical parks as excellent locations for companies across various sectors of the chemicals value chain.
Chemical parks in Germany bring together companies from across the chemical value chain at a single site to benefit from shared infrastructure and resources. Germany's central location and unique geography have contributed to the success of over 60 chemical parks that are home to about 240,000 employees. Chemical parks reduce costs for companies by providing utilities, waste management, logistics and other services so companies can focus on chemical production. The integrated infrastructure of pipelines and resources at chemical parks allows for production of a wide range of chemicals from basic to specialty.
The document summarizes key discussions and presentations from the Stewardship 2015 conference in Salt Lake City. Several hundred product stewardship professionals attended the conference to discuss challenges in their industry, including environmental issues, regulatory compliance, and supply chain communications. Presentations focused on updates to regulations like GHS, REACH, and TSCA from representatives in the US, Canada, and Europe. Additional topics included risk management in the supply chain, data management for stewardship programs, and communicating with workers and the public about product impacts and risks.
High Performance Polyamides – A Global Market OverviewIndustry Experts
Mega trends in the automotive, electrical & electronics and oil & gas sectors are expected to spur the demand for high performance polyamides in the future. In the automotive industry, growth is supported by metal replacement to reduce vehicle weight, while thinner and smaller components in electronic devices. Further, the development of unconventional oil and gas technologies to spur the demand for the specialty polyamides. Global volume consumption of High Performance Polyamides is forecast to be 217.4 thousand metric tons in 2016 and is projected to reach 271.1 thousand metric tons by 2022 at a CAGR of 3.7% between the two years.
The document summarizes the key findings of an annual report on the top 50 largest chemical companies globally in 2014. It finds that while overall chemical sales declined slightly, profits rose. Specifically:
- Falling oil prices led to lower chemical sales but higher profits at the top chemical makers. Sales declined less than 1% while profits rose 3.8%.
- Companies closer to oil/petrochemicals lost ground to downstream specialty chemical makers as oil-based competitors cut prices. Five companies dropped from the list.
- BASF remained the largest chemical company for the 9th year. Dow regained the #2 spot. Sinopec fell to #3 due to high costs in China.
The leading 40 U.S. insurance groups collectively hold nearly $500 billion in investments in fossil fuel companies and electric/gas utilities according to a Ceres analysis. Specifically, they hold $237 billion in electric/gas utilities, $221 billion in oil and gas companies, and just under $2 billion in coal companies. The vast majority (81%) of insurers' oil and gas investments are held in bonds issued by fossil fuel companies to finance extraction and capital expenditures. While coal investments make up a small portion due to declining market values of U.S. coal companies, insurers have substantial exposure to stranded asset risk through their large holdings in oil, gas, and utility companies during the global transition to clean energy.
The document provides details about the history and organization of The Coca-Cola Company. It outlines the founding and growth of the company from the 1880s to present day. Key executives and the organizational structure are also summarized, with the company led by a Chairman and CEO and divided into regional groups.
Chlor-Alkali Market, By Products (Caustic Soda/Sodium Hydroxide, Chlorine, So...ReportsnReports
This document provides a 318-page report on the global chlor-alkali market from 2012-2017. It estimates market sizes and forecasts revenues for three products: caustic soda, chlorine, and soda ash. The report segments the market by geography and applications, and profiles major industry players. It identifies key drivers like growth in developing countries and end-user industries. Restraining factors include environmental concerns and energy intensive operations. The global market for caustic soda, chlorine, and soda ash is expected to reach 79.8, 74.2, and 58.1 million tons respectively by 2017, totaling $88.6 billion in revenue.
Chalcroft Construction Building Partners issue 16Chalcroft Ltd
1. Over the last 35 years, Chalcroft has established itself as a leading construction operator in the food, drink and logistics industries. It has expanded from groundworks to specialized temperature controlled and high-care construction work.
2. A survey at the BFFF conference found that 72% of businesses are likely to increase investment in 2014, with 95% agreeing that improving environmental management plays an important role in reducing costs and driving growth. 45% saw clearer food labeling as most important in reducing the UK's £11.5bn annual food waste.
3. Chalcroft has grown over the last year, opening a new West Midlands office and appointing a new Operations Manager to strengthen collaboration with clients.
Royal Dutch Shell has a long history of strategic planning that has enabled it to anticipate changes in the oil industry and adapt accordingly. The company was founded in the late 19th century by the Samuel brothers who pioneered oil transportation by sea. Through mergers with Royal Dutch Petroleum and other acquisitions, Shell became a global oil giant by the 1920s. However, it faced challenges during the 1930s from nationalizations. More recently, Shell has expanded into alternative fuels and renewable energy to prepare for a future with less dependence on oil. Alternative fuel sources like biomass and hybrid vehicles now present a potential threat to Shell's core oil business if adopted widely.
World Industrial & Institutional (I&I) Cleaning Chemicals to 2016ReportsnReports
This document analyzes the global industrial and institutional cleaning chemicals industry. It forecasts that worldwide demand for cleaning chemicals will grow 4.7% annually through 2016, exceeding $44 billion. The fastest growth will come from developing markets in Asia, Africa, and Eastern Europe. Disinfectants and sanitizers are expected to lead growth as food safety standards increase globally. The report profiles over 30 industry players and provides historical data and forecasts for demand by product, market, world region, and major country.
Expectations of customer industries for the Chemical IndustrySantiago Advisors
- For a high resolution PDF file click the 'Download' button -
A study conducted by Santiago Advisors for the German Chemical Industry Association (VCI): Core products subject to criticism. Massive upheavals in major customer industries. Even shorter innovation cycles. Intensifying global competition – the chemical industry is facing numerous challenges. Our interviews with 60 experts of various customer industries reveal that the key to future success in the chemical industry is tied to 10 central customer requirements.
For the Business Block, my project group and I research Chevron Corporation, analyzed its financial statements, market position, and competitors to ultimately assert whether investors should purchase stock in the company. We took the corporation's financial ratios (which was chiefly my responsibility), marketing efforts, operational efficiency, SWOT analysis, and accounting methods into account, and determined that investors ought to buy stock in the firm at the given time.
Sustainability Management in the Chemical IndustryPINPOOLS GmbH
The importance of sustainability in the chemicals industry and the cross-cutting factors, such as low carbon economy, circularity and digitalization. Case study of SABIC.
1. Aramco is an energy company headquartered in Saudi Arabia that operates globally, including in Europe where it conducts business in various non-oil industries like technology, construction, and recruitment.
2. The document analyzes Aramco's operations in Europe using a SWOT analysis, identifying strengths like financial resources and market position, weaknesses like lack of transparency, and opportunities and threats from changing energy and political landscapes.
3. It discusses both the opportunities for Aramco to capitalize on energy innovations in Europe as well as the threats from factors like government policies promoting cleaner energy and declining oil demand.
Kingfisher PLC is a multinational home improvement company operating stores across Europe and Asia. The document analyzes Kingfisher's strategy using tools like PESTLE, Porter's Five Forces, SWOT and BCG matrix. It finds Kingfisher has a strong brand portfolio and loyal customers but could invest more in R&D. The strategy aims to grow profits in key markets like the UK and expand operations in Asia and Eastern Europe. The analysis concludes Kingfisher should consider expanding its strong brands into new international markets to remain competitive.
Major Step Forward: Commerce Resources succeeds in producing marketable mixed...Stephan Bogner
Commerce Resources Corp. has produced a marketable mixed rare earth carbonate (REC) sample from its Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. The sample meets typical REE market specifications and has a high concentration of neodymium and praseodymium (NdPr) at 21.6%, which is significantly higher than several major global REE producers. Producing this initial mixed REC sample is an important milestone and de-risking step for the Ashram project. Demand for REEs is increasing rapidly due to the accelerating adoption of electric vehicles and wind power, but supply must also grow to avoid potential shortages. Commerce Resources aims to help establish a North American REE supply
The document summarizes the 1998 merger between Exxon and Mobil corporations. It provides background on the two companies and the pre-deal discussions. The deal structure involved Mobil shareholders receiving 1.32015 Exxon shares for each Mobil share. Valuation analyses found the $74.1 billion price represented a premium but captured expected synergies of $2.8-$3.8 billion annually. The merger created the world's largest oil company and was expected to benefit from improved capital efficiency and complementary operations.
Industrial Adhesives: Products and Technologies – A Global Market OverviewIndustry Experts
Industrial Adhesives technologies discussed in this study comprises Water-Based, Solvent-Based, Hot Melts and 100% Reactive. The product segments analyzed in include Acrylics, Water-Based PVAc & VAE, Polyurethane, EVA & Polyethylene Hot-Melts, SBC Hot-Melts, Epoxy, Polychloroprene and Others. The major product segments further classified in to sub-types as Acrylics – Emulsion-Based Acrylics, Solvent-Based Acrylics and Other Acrylics; Polyurethane - Solvent-Based, 100% Reactive, Hot-Melt and Water-Based.
Industry analysis g.o.l.d. (global oil leakage detectossuser337fce
The document discusses a new product called G.O.L.D. (Global Oil Leakage Detector) that aims to prevent oil spills by monitoring waters for leaks. It analyzes the product's strengths and opportunities, as well as threats from competitors. A key competitor is Pristine Sea, which uses clays to solidify oil spills. The document recommends marketing strategies for G.O.L.D. to establish itself and expand its online presence against competitors in the oil spill detection market.
The document discusses several energy-related topics:
1) ADNOC will host a research conference in Abu Dhabi to discuss the latest innovations in energy R&D, with 2000 participants.
2) The Shah gas project in the UAE has started production and is ramping up to full capacity in the second quarter of 2015, providing natural gas to the UAE.
3) The global polymer industry is expected to grow 3.9% over the next 5 years, with the thermoplastics segment seeing the highest growth. The GCC polymer industry is urged to follow market trends.
The strategic analysis recommends that the Scottish Salmon Company diversify its product offerings and accelerate mergers and acquisitions of value-adding companies over the next five years. This will help reduce dependence on salmon and allow expansion to new markets. Additionally, investing in technology can prevent disease threats and optimize scarce resources. Implementing these recommendations will strengthen competitive advantages by creating higher barriers to entry and allowing economies of scale through a broader portfolio and increased production capabilities.
The strategic analysis of the Scottish Salmon Company recommends that the company diversify into new market products and accelerate mergers and acquisitions of value adding companies over the next five years. This will help reduce dependence on salmon and provide benefits like improved customer focus, reduced prices, and wider product availability. Additionally, investing in technological developments like preventing disease will future proof the company and optimize resources. Implementing these recommendations will create higher barriers to threats and allow the company to leverage greater economies of scale, reducing costs and increasing margins.
This presentation by Professor Giuseppe Colangelo, Jean Monnet Professor of European Innovation Policy, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
The leading 40 U.S. insurance groups collectively hold nearly $500 billion in investments in fossil fuel companies and electric/gas utilities according to a Ceres analysis. Specifically, they hold $237 billion in electric/gas utilities, $221 billion in oil and gas companies, and just under $2 billion in coal companies. The vast majority (81%) of insurers' oil and gas investments are held in bonds issued by fossil fuel companies to finance extraction and capital expenditures. While coal investments make up a small portion due to declining market values of U.S. coal companies, insurers have substantial exposure to stranded asset risk through their large holdings in oil, gas, and utility companies during the global transition to clean energy.
The document provides details about the history and organization of The Coca-Cola Company. It outlines the founding and growth of the company from the 1880s to present day. Key executives and the organizational structure are also summarized, with the company led by a Chairman and CEO and divided into regional groups.
Chlor-Alkali Market, By Products (Caustic Soda/Sodium Hydroxide, Chlorine, So...ReportsnReports
This document provides a 318-page report on the global chlor-alkali market from 2012-2017. It estimates market sizes and forecasts revenues for three products: caustic soda, chlorine, and soda ash. The report segments the market by geography and applications, and profiles major industry players. It identifies key drivers like growth in developing countries and end-user industries. Restraining factors include environmental concerns and energy intensive operations. The global market for caustic soda, chlorine, and soda ash is expected to reach 79.8, 74.2, and 58.1 million tons respectively by 2017, totaling $88.6 billion in revenue.
Chalcroft Construction Building Partners issue 16Chalcroft Ltd
1. Over the last 35 years, Chalcroft has established itself as a leading construction operator in the food, drink and logistics industries. It has expanded from groundworks to specialized temperature controlled and high-care construction work.
2. A survey at the BFFF conference found that 72% of businesses are likely to increase investment in 2014, with 95% agreeing that improving environmental management plays an important role in reducing costs and driving growth. 45% saw clearer food labeling as most important in reducing the UK's £11.5bn annual food waste.
3. Chalcroft has grown over the last year, opening a new West Midlands office and appointing a new Operations Manager to strengthen collaboration with clients.
Royal Dutch Shell has a long history of strategic planning that has enabled it to anticipate changes in the oil industry and adapt accordingly. The company was founded in the late 19th century by the Samuel brothers who pioneered oil transportation by sea. Through mergers with Royal Dutch Petroleum and other acquisitions, Shell became a global oil giant by the 1920s. However, it faced challenges during the 1930s from nationalizations. More recently, Shell has expanded into alternative fuels and renewable energy to prepare for a future with less dependence on oil. Alternative fuel sources like biomass and hybrid vehicles now present a potential threat to Shell's core oil business if adopted widely.
World Industrial & Institutional (I&I) Cleaning Chemicals to 2016ReportsnReports
This document analyzes the global industrial and institutional cleaning chemicals industry. It forecasts that worldwide demand for cleaning chemicals will grow 4.7% annually through 2016, exceeding $44 billion. The fastest growth will come from developing markets in Asia, Africa, and Eastern Europe. Disinfectants and sanitizers are expected to lead growth as food safety standards increase globally. The report profiles over 30 industry players and provides historical data and forecasts for demand by product, market, world region, and major country.
Expectations of customer industries for the Chemical IndustrySantiago Advisors
- For a high resolution PDF file click the 'Download' button -
A study conducted by Santiago Advisors for the German Chemical Industry Association (VCI): Core products subject to criticism. Massive upheavals in major customer industries. Even shorter innovation cycles. Intensifying global competition – the chemical industry is facing numerous challenges. Our interviews with 60 experts of various customer industries reveal that the key to future success in the chemical industry is tied to 10 central customer requirements.
For the Business Block, my project group and I research Chevron Corporation, analyzed its financial statements, market position, and competitors to ultimately assert whether investors should purchase stock in the company. We took the corporation's financial ratios (which was chiefly my responsibility), marketing efforts, operational efficiency, SWOT analysis, and accounting methods into account, and determined that investors ought to buy stock in the firm at the given time.
Sustainability Management in the Chemical IndustryPINPOOLS GmbH
The importance of sustainability in the chemicals industry and the cross-cutting factors, such as low carbon economy, circularity and digitalization. Case study of SABIC.
1. Aramco is an energy company headquartered in Saudi Arabia that operates globally, including in Europe where it conducts business in various non-oil industries like technology, construction, and recruitment.
2. The document analyzes Aramco's operations in Europe using a SWOT analysis, identifying strengths like financial resources and market position, weaknesses like lack of transparency, and opportunities and threats from changing energy and political landscapes.
3. It discusses both the opportunities for Aramco to capitalize on energy innovations in Europe as well as the threats from factors like government policies promoting cleaner energy and declining oil demand.
Kingfisher PLC is a multinational home improvement company operating stores across Europe and Asia. The document analyzes Kingfisher's strategy using tools like PESTLE, Porter's Five Forces, SWOT and BCG matrix. It finds Kingfisher has a strong brand portfolio and loyal customers but could invest more in R&D. The strategy aims to grow profits in key markets like the UK and expand operations in Asia and Eastern Europe. The analysis concludes Kingfisher should consider expanding its strong brands into new international markets to remain competitive.
Major Step Forward: Commerce Resources succeeds in producing marketable mixed...Stephan Bogner
Commerce Resources Corp. has produced a marketable mixed rare earth carbonate (REC) sample from its Ashram Rare Earth and Fluorspar Deposit in Quebec, Canada. The sample meets typical REE market specifications and has a high concentration of neodymium and praseodymium (NdPr) at 21.6%, which is significantly higher than several major global REE producers. Producing this initial mixed REC sample is an important milestone and de-risking step for the Ashram project. Demand for REEs is increasing rapidly due to the accelerating adoption of electric vehicles and wind power, but supply must also grow to avoid potential shortages. Commerce Resources aims to help establish a North American REE supply
The document summarizes the 1998 merger between Exxon and Mobil corporations. It provides background on the two companies and the pre-deal discussions. The deal structure involved Mobil shareholders receiving 1.32015 Exxon shares for each Mobil share. Valuation analyses found the $74.1 billion price represented a premium but captured expected synergies of $2.8-$3.8 billion annually. The merger created the world's largest oil company and was expected to benefit from improved capital efficiency and complementary operations.
Industrial Adhesives: Products and Technologies – A Global Market OverviewIndustry Experts
Industrial Adhesives technologies discussed in this study comprises Water-Based, Solvent-Based, Hot Melts and 100% Reactive. The product segments analyzed in include Acrylics, Water-Based PVAc & VAE, Polyurethane, EVA & Polyethylene Hot-Melts, SBC Hot-Melts, Epoxy, Polychloroprene and Others. The major product segments further classified in to sub-types as Acrylics – Emulsion-Based Acrylics, Solvent-Based Acrylics and Other Acrylics; Polyurethane - Solvent-Based, 100% Reactive, Hot-Melt and Water-Based.
Industry analysis g.o.l.d. (global oil leakage detectossuser337fce
The document discusses a new product called G.O.L.D. (Global Oil Leakage Detector) that aims to prevent oil spills by monitoring waters for leaks. It analyzes the product's strengths and opportunities, as well as threats from competitors. A key competitor is Pristine Sea, which uses clays to solidify oil spills. The document recommends marketing strategies for G.O.L.D. to establish itself and expand its online presence against competitors in the oil spill detection market.
The document discusses several energy-related topics:
1) ADNOC will host a research conference in Abu Dhabi to discuss the latest innovations in energy R&D, with 2000 participants.
2) The Shah gas project in the UAE has started production and is ramping up to full capacity in the second quarter of 2015, providing natural gas to the UAE.
3) The global polymer industry is expected to grow 3.9% over the next 5 years, with the thermoplastics segment seeing the highest growth. The GCC polymer industry is urged to follow market trends.
The strategic analysis recommends that the Scottish Salmon Company diversify its product offerings and accelerate mergers and acquisitions of value-adding companies over the next five years. This will help reduce dependence on salmon and allow expansion to new markets. Additionally, investing in technology can prevent disease threats and optimize scarce resources. Implementing these recommendations will strengthen competitive advantages by creating higher barriers to entry and allowing economies of scale through a broader portfolio and increased production capabilities.
The strategic analysis of the Scottish Salmon Company recommends that the company diversify into new market products and accelerate mergers and acquisitions of value adding companies over the next five years. This will help reduce dependence on salmon and provide benefits like improved customer focus, reduced prices, and wider product availability. Additionally, investing in technological developments like preventing disease will future proof the company and optimize resources. Implementing these recommendations will create higher barriers to threats and allow the company to leverage greater economies of scale, reducing costs and increasing margins.
This presentation by Professor Giuseppe Colangelo, Jean Monnet Professor of European Innovation Policy, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
The importance of sustainable and efficient computational practices in artificial intelligence (AI) and deep learning has become increasingly critical. This webinar focuses on the intersection of sustainability and AI, highlighting the significance of energy-efficient deep learning, innovative randomization techniques in neural networks, the potential of reservoir computing, and the cutting-edge realm of neuromorphic computing. This webinar aims to connect theoretical knowledge with practical applications and provide insights into how these innovative approaches can lead to more robust, efficient, and environmentally conscious AI systems.
Webinar Speaker: Prof. Claudio Gallicchio, Assistant Professor, University of Pisa
Claudio Gallicchio is an Assistant Professor at the Department of Computer Science of the University of Pisa, Italy. His research involves merging concepts from Deep Learning, Dynamical Systems, and Randomized Neural Systems, and he has co-authored over 100 scientific publications on the subject. He is the founder of the IEEE CIS Task Force on Reservoir Computing, and the co-founder and chair of the IEEE Task Force on Randomization-based Neural Networks and Learning Systems. He is an associate editor of IEEE Transactions on Neural Networks and Learning Systems (TNNLS).
This presentation by OECD, OECD Secretariat, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
Gamify it until you make it Improving Agile Development and Operations with ...Ben Linders
So many challenges, so little time. While we’re busy developing software and keeping it operational, we also need to sharpen the saw, but how? Gamification can be a way to look at how you’re doing and find out where to improve. It’s a great way to have everyone involved and get the best out of people.
In this presentation, Ben Linders will show how playing games with the DevOps coaching cards can help to explore your current development and deployment (DevOps) practices and decide as a team what to improve or experiment with.
The games that we play are based on an engagement model. Instead of imposing change, the games enable people to pull in ideas for change and apply those in a way that best suits their collective needs.
By playing games, you can learn from each other. Teams can use games, exercises, and coaching cards to discuss values, principles, and practices, and share their experiences and learnings.
Different game formats can be used to share experiences on DevOps principles and practices and explore how they can be applied effectively. This presentation provides an overview of playing formats and will inspire you to come up with your own formats.
This presentation by OECD, OECD Secretariat, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
This presentation by Nathaniel Lane, Associate Professor in Economics at Oxford University, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
This presentation by Katharine Kemp, Associate Professor at the Faculty of Law & Justice at UNSW Sydney, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
This presentation by Tim Capel, Director of the UK Information Commissioner’s Office Legal Service, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
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1.) Introduction
Our Movement is not new; it is the same as it was for Freedom, Justice, and Equality since we were labeled as slaves. However, this movement at its core must entail economics.
2.) Historical Context
This is the same movement because none of the previous movements, such as boycotts, were ever completed. For some, maybe, but for the most part, it’s just a place to keep your stable until you’re ready to assimilate them into your system. The rest of the crabs are left in the world’s worst parts, begging for scraps.
3.) Economic Empowerment
Our Movement aims to show that it is indeed possible for the less fortunate to establish their economic system. Everyone else – Caucasian, Asian, Mexican, Israeli, Jews, etc. – has their systems, and they all set up and usurp money from the less fortunate. So, the less fortunate buy from every one of them, yet none of them buy from the less fortunate. Moreover, the less fortunate really don’t have anything to sell.
4.) Collaboration with Organizations
Our Movement will demonstrate how organizations such as the National Association for the Advancement of Colored People, National Urban League, Black Lives Matter, and others can assist in creating a much more indestructible Black Wall Street.
5.) Vision for the Future
Our Movement will not settle for less than those who came before us and stopped before the rights were equal. The economy, jobs, healthcare, education, housing, incarceration – everything is unfair, and what isn’t is rigged for the less fortunate to fail, as evidenced in society.
6.) Call to Action
Our movement has started and implemented everything needed for the advancement of the economic system. There are positions for only those who understand the importance of this movement, as failure to address it will continue the degradation of the people deemed less fortunate.
No, this isn’t Noah’s Ark, nor am I a Prophet. I’m just a man who wrote a couple of books, created a magnificent website: http://www.thearkproject.llc, and who truly hopes to try and initiate a truly sustainable economic system for deprived people. We may not all have the same beliefs, but if our methods are tried, tested, and proven, we can come together and help others. My website: http://www.thearkproject.llc is very informative and considerably controversial. Please check it out, and if you are afraid, leave immediately; it’s no place for cowards. The last Prophet said: “Whoever among you sees an evil action, then let him change it with his hand [by taking action]; if he cannot, then with his tongue [by speaking out]; and if he cannot, then, with his heart – and that is the weakest of faith.” [Sahih Muslim] If we all, or even some of us, did this, there would be significant change. We are able to witness it on small and grand scales, for example, from climate control to business partnerships. I encourage, invite, and challenge you all to support me by visiting my website.
Why Psychological Safety Matters for Software Teams - ACE 2024 - Ben Linders.pdfBen Linders
Psychological safety in teams is important; team members must feel safe and able to communicate and collaborate effectively to deliver value. It’s also necessary to build long-lasting teams since things will happen and relationships will be strained.
But, how safe is a team? How can we determine if there are any factors that make the team unsafe or have an impact on the team’s culture?
In this mini-workshop, we’ll play games for psychological safety and team culture utilizing a deck of coaching cards, The Psychological Safety Cards. We will learn how to use gamification to gain a better understanding of what’s going on in teams. Individuals share what they have learned from working in teams, what has impacted the team’s safety and culture, and what has led to positive change.
Different game formats will be played in groups in parallel. Examples are an ice-breaker to get people talking about psychological safety, a constellation where people take positions about aspects of psychological safety in their team or organization, and collaborative card games where people work together to create an environment that fosters psychological safety.
This presentation by Juraj Čorba, Chair of OECD Working Party on Artificial Intelligence Governance (AIGO), was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
This presentation by OECD, OECD Secretariat, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
This presentation by Thibault Schrepel, Associate Professor of Law at Vrije Universiteit Amsterdam University, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
This presentation by Yong Lim, Professor of Economic Law at Seoul National University School of Law, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
Artificial Intelligence, Data and Competition – LIM – June 2024 OECD discussion
Term Paper final.pdf
1. 1
Maximilian Garczorz gama1040@h-ka.de
Durlacher Allee 44 maximilian.garczorz@gmail.com
76131 Karlsruhe
Term Paper
Transparency and Compliance in the Chemical
Industry: A Compara8ve Analysis of BASF and
Saudi Aramco
2. 2
1 Inhaltsverzeichnis
1 Inhaltsverzeichnis ..................................................................................................................................2
2 Introduc5on...........................................................................................................................................3
3 History of the Companies.......................................................................................................................4
3.1 History of BASF .....................................................................................................................................4
3.2 History of Saudi Aramco.......................................................................................................................5
4 Organiza5onal Structure ........................................................................................................................6
4.1 Structure of BASF..................................................................................................................................6
4.2 Structure of Saudi Aramco....................................................................................................................6
5 Goals and Strategy.................................................................................................................................7
5.1 Goals and Strategy of BASF ..................................................................................................................7
5.2 Goals and Strategy of Saudi Aramco:..................................................................................................7
6 Financial Report.....................................................................................................................................8
6.1 Transparency of the Financial Reports of BASF ....................................................................................8
6.2 Transparency of the Financial Reports of Saudi Aramco ...................................................................10
6.3 Summary ............................................................................................................................................11
7 Transparency in CO2 Emissions Repor5ng ............................................................................................11
7.1 Transparency in CO2 Carbon footprint of BASF ..................................................................................12
7.2 Transparency in CO2 Carbon footprint of Saudi Aramco...................................................................13
8 Accident Inves5ga5on in the Chemical Industry ...................................................................................14
8.1 Transparency of Accident InvesLgaLon of BASF.................................................................................14
8.2 Transparency of Accident InvesLgaLon of Saudi Aramco..................................................................15
8.3 Conclusion ..........................................................................................................................................16
9 Solu5ons for the Iden5fied Issues ........................................................................................................17
9.1 Transparency soluLon for BASF..........................................................................................................17
9.2 Transparency soluLon for Saudi Aramco............................................................................................18
3. 3
2 Introduc4on
Transparency and compliance play pivotal roles in shaping the reputa8on, accountability, and
trustworthiness of companies within the chemical industry. Transparency refers to the clear
and accessible disclosure of per8nent informa8on regarding a company's opera8ons,
performance, and decision-making processes. It encompasses financial repor8ng, corporate
governance prac8ces, environmental and social impact repor8ng, and open communica8on
with stakeholders. Transparent prac8ces enable stakeholders to make informed decisions,
foster trust, and facilitate meaningful engagement.
In the context of the chemical industry, transparency holds significant importance due to the
poten8al environmental, social, and economic impacts associated with chemical produc8on
and usage. Stakeholders, including investors, customers, employees, regulatory bodies, and
the wider society, rely on transparent prac8ces to evaluate the sustainability and responsible
conduct of chemical companies. Comprehensive reports, encompassing informa8on on
opera8ons, supply chains, and environmental impact, enable stakeholders to understand the
company's ac8vi8es and hold them accountable.
By sharing data publicly, companies enable greater scru8ny and analysis by stakeholders.
Compliance, encompassing adherence to laws, regula8ons, industry standards, and ethical
guidelines, is a crucial aspect of corporate governance. Compliance ensures that companies
operate within legal and ethical frameworks, minimizing risks, protec8ng stakeholders'
interests, and promo8ng responsible business prac8ces. Embracing global standards and best
prac8ces, such as those outlined by the Global Repor8ng Ini8a8ve or the United Na8ons
Global Compact, fosters consistency and comparability across industries and geographies.
In conclusion, improving transparency and compliance within the chemical industry requires
a comprehensive approach. It necessitates changes in repor8ng prac8ces and, importantly, a
cultural shiN within companies towards greater accountability and openness. By examining the
transparency and compliance ini8a8ves of industry leaders like BASF and Saudi Aramco,
valuable insights can be gained, enabling other organiza8ons within the chemical sector to
learn from best prac8ces and drive con8nued improvement.
4. 4
The subsequent sec8ons of this paper will delve into the historical backgrounds of BASF and
Saudi Aramco, analyze their organiza8onal structures, evaluate their goals and strategies
concerning transparency and compliance, scru8nize their financial reports, examine their
emergency refurbishment prac8ces, propose solu8ons to challenges, and draw conclusions
regarding the significance of transparency and compliance in the chemical industry.
3 History of the Companies
3.1 History of BASF
BASF, the world's largest chemical company, has a rich and storied history that dates back to
the 19th century. Founded as the Badische Anilin- und Sodafabrik in 1865, the company played
a significant role in shaping the chemical industry and has since evolved into a global leader in
the field.
The roots of BASF can be traced to the region of Baden, Germany, where a group of visionary
entrepreneurs recognized the poten8al of the burgeoning chemical industry. They established
the Badische Anilin- und Sodafabrik in Ludwigshafen, a town situated on the Rhine River, with
the goal of producing synthe8c dyes and soda products.
Under the leadership of its early pioneers, including Friedrich Engelhorn and Carl von Linde,
BASF quickly gained prominence. Engelhorn, a successful entrepreneur, transformed the
company into a leading manufacturer of synthe8c dyes. With technological advancements and
innova8ve research, BASF expanded its product porXolio, producing not only dyes but also
pharmaceu8cals, plas8cs, and agricultural chemicals.
During the late 19th and early 20th centuries, BASF experienced significant growth and
became a global player in the chemical industry. The company's success can be a[ributed to
its commitment to research and development, collabora8on with scien8sts, and strategic
acquisi8ons. BASF's scien8fic breakthroughs, such as the development of synthe8c indigo dye
and the produc8on of ammonia for fer8lizers, propelled its expansion and cemented its
posi8on as an industry leader.
In the post-war era, BASF played a vital role in the reconstruc8on of Germany, contribu8ng to
the country's economic recovery.
The company diversified its product offerings, entering new sectors such as petrochemicals,
fine chemicals, and performance materials.
5. 5
Today, BASF operates as a mul8na8onal corpora8on, with a focus on sustainable development
and innova8on. The company is commi[ed to addressing global challenges such as climate
change, resource scarcity, and popula8on growth through its research and product offerings.
BASF con8nues to drive advancements in fields such as chemistry, materials science, and
digitaliza8on, contribu8ng to a sustainable future.
3.2 History of Saudi Aramco
Saudi Aramco, officially known as the Saudi Arabian Oil Company, has a remarkable history
that closely intertwines with the development of the oil industry in Saudi Arabia. The
company's roots can be traced back to the early 20th century when explora8on for oil
resources began in the Arabian Peninsula.
The story of Aramco begins in the 1930s when the Arabian American Oil Company (ARAMCO)
was formed as a consor8um of interna8onal oil companies, including Standard Oil of California
(now Chevron), Exxon, Texaco (now Chevron), and Mobil (now ExxonMobil). These companies
obtained explora8on and produc8on rights in Saudi Arabia under a concession agreement with
the Saudi government.
In 1938, a significant milestone was achieved when oil was discovered in commercial
quan88es. This marked the beginning of a prosperous era for both Saudi Aramco and Saudi
Arabia as a major global oil producer.
Over the years, Aramco played a pivotal role in the development of Saudi Arabia's oil industry
and the transforma8on of the country's economy. The company focused on the explora8on,
produc8on, refining, and distribu8on of petroleum and petrochemical products. As the
industry expanded, Aramco undertook ambi8ous projects, including the construc8on of
pipelines, refineries, and infrastructure to support the growing oil opera8ons.
In the 1970s, the Saudi government acquired a majority stake in Aramco, gradually increasing
its ownership un8l it gained full control by the end of the 1980s. Subsequently, Aramco became
a state-owned enterprise, and its name was changed to Saudi Arabian Oil Company, commonly
known as Aramco.
Under the stewardship of the Saudi government, Aramco con8nued to flourish and solidify its
posi8on as the world's largest oil exporter.
In 2019, Aramco made history by going public and lis8ng its shares on the Saudi Arabian stock
exchange, becoming the largest ini8al public offering (IPO) in history.
6. 6
Today, Aramco stands as a global energy giant, recognized for its vast oil reserves, cufng-edge
technologies, and commitment to sustainable prac8ces.
4 Organiza4onal Structure
BASF and Aramco, two leading companies in the chemical and energy industries respec8vely,
operate with dis8nct organiza8onal structures that align with their diverse opera8ons and
global presence. These structures play a crucial role in enabling effec8ve management,
coordina8on, and strategic decision-making within the organiza8ons.
4.1 Structure of BASF
BASF follows a divisional organiza8onal structure that supports its diverse porXolio of products
and services. The company is divided into several divisions, each focused on specific business
areas or product lines. These divisions include Chemicals, Materials, Industrial Solu8ons,
Surface Technologies, and Nutri8on & Care. This structure allows for focused exper8se,
efficient resource alloca8on, and tailored approaches to different market segments.
Within each division, there are global business units and regional divisions that facilitate
localized opera8ons and customer-centric strategies. The global business units are responsible
for specific product lines or technologies, ensuring specializa8on and a deep understanding of
market demands. The regional divisions cater to the unique needs of specific geographic areas,
adap8ng strategies and opera8ons to local markets.
The divisional structure of BASF enables effec8ve coordina8on, collabora8on, and decision-
making across different business segments and geographical regions. It allows for agility in
responding to market demands, promotes innova8on, and facilitates efficient alloca8on of
resources.
4.2 Structure of Saudi Aramco
Saudi Aramco follows a func8onal organiza8onal structure that supports its extensive
opera8ons across the en8re value chain. The company is organized into various func8onal
units, each responsible for specific areas of exper8se and opera8ons. These units include
Upstream, Downstream, Projects and Business Development, Finance and Strategy, and
Support Func8ons.
7. 7
Aramco's func8onal structure enables efficient coordina8on, exper8se sharing, and focused
execu8on within each func8onal area. It facilitates specializa8on, in-depth knowledge, and
exper8se development in specific domains. This structure also allows for the effec8ve
alloca8on of resources, division of labor, and the implementa8on of standardized prac8ces
across the organiza8on.
5 Goals and Strategy
BASF and Saudi Aramco have dis8nct goals and strategies that align with their respec8ve
missions and industry landscapes. While both companies emphasize sustainability, innova8on,
and long-term value crea8on, their approaches and focus areas differ.
5.1 Goals and Strategy of BASF
BASF is commi[ed to crea8ng chemistry for a sustainable future. The company has set
ambi8ous goals and developed a comprehensive strategy to drive sustainable development
and address global challenges. BASF's goals and strategies revolve around four key pillars:
porXolio management, opera8onal excellence, customer focus, and people and society.
BASF aims to op8mize its porXolio by priori8zing sustainable solu8ons with strong market
poten8al.
Customer focus is a core aspect of BASF's strategy. The company aims to understand and meet
the evolving needs of its customers by collabora8ng closely with them, co-crea8ng innova8ve
solu8ons, and providing value-added products and services. By fostering long-term
partnerships, BASF stays at the forefront of the chemical industry and delivers sustainable
solu8ons tailored to customer requirements.
BASF recognizes the significance of its employees and society in achieving its goals. The
company promotes an inclusive and diverse work environment, empowering its employees to
drive innova8on and contribute to sustainable development.
5.2 Goals and Strategy of Saudi Aramco:
Saudi Aramco aims to maintain its posi8on as the world's leading oil producer and support the
Saudi Arabian economy. The company acknowledges the importance of addressing
environmental concerns and transi8oning to a low-carbon economy. It also seeks to strengthen
8. 8
its presence in the global energy market by expanding downstream opera8ons, such as
refining and petrochemical produc8on. While specific details may not be readily available,
Saudi Aramco's goals revolve around leadership, sustainability, and diversifica8on.
6 Financial Report
The financial report is a vital component of corporate transparency, providing stakeholders
with valuable insights into the financial performance, posi8on, and prospects of a company. It
serves as a comprehensive documenta8on of the financial ac8vi8es and results, enabling
stakeholders to assess the company's financial health, make informed decisions, and hold the
company accountable.
BASF offers comprehensive financial reports that provide a comprehensive overview of its
financial performance, including revenues, opera8ng income, net income, and cash flows.
These reports offer a breakdown of financial results by business segments, geographical
regions, and key performance indicators. BASF's financial reports adhere to interna8onal
accoun8ng standards, providing stakeholders with reliable and transparent financial
informa8on.
Saudi Aramco also provides extensive financial reports that reflect its significant presence in
the oil and gas industry. Aramco's financial reports include detailed informa8on on revenues,
costs, profits, capital expenditures, and cash flows. Stakeholders can gain insights into the
company's produc8on levels, reserves, refining capaci8es, and financial performance through
its financial disclosures.
6.1 Transparency of the financial Reports of BASF
BASF has established a strong tradi8on of transparency in its financial repor8ng. The company
provides stakeholders with extensive access to its financial informa8on, enabling them to
review and analyze its performance on a regular basis. Since 1999, BASF has made its quarterly
reports publicly available, allowing stakeholders to stay informed about the company's
financial results and developments.
Through BASF's publica8on finder, stakeholders can access a wide range of financial
documents, including annual reports, quarterly statements, and sustainability reports. This
9. 9
centralized plaXorm serves as a valuable resource for stakeholders seeking to delve into BASF's
financial performance and gain insights into its opera8ons.
A notable aspect of BASF's commitment to transparency is the availability of local reports.
Stakeholders can access 146 local reports, such as "BASF Japan 2022," which provide a more
detailed analysis of the company's performance within specific regions or subsidiaries. These
local reports offer stakeholders a deeper understanding of BASF's opera8ons on a localized
level, facilita8ng a comprehensive assessment of the company's global footprint and its
financial performance in different markets.
By making these local reports publicly available, BASF demonstrates its dedica8on to providing
stakeholders with granular informa8on that goes beyond the consolidated financial
statements. This level of transparency allows stakeholders to gain insights into the company's
regional strategies, market dynamics, and performance in specific geographies.
Figure 1: BASF website with all reports
Furthermore, BASF's financial reports incorporate contextual informa8on that helps
stakeholders interpret the financial results. The reports provide explana8ons of business
developments, strategic ini8a8ves, risks, and opportuni8es, allowing stakeholders to assess
the factors influencing BASF's financial performance and make informed decisions.
BASF's commitment to transparency in financial repor8ng is aligned with its broader
sustainability efforts. The reports integrate relevant informa8on on the company's
10. 10
sustainability ini8a8ves, environmental impact, and progress towards achieving its
sustainability goals. This integra8on emphasizes the interconnectedness of financial
performance and sustainability, reinforcing BASF's holis8c approach to transparency.
In conclusion, BASF's commitment to transparency in financial repor8ng is exemplified by its
quarterly reports, extensive availability of local reports, and comprehensive breakdowns of
financial results. By providing stakeholders with 8mely, detailed, and contextual informa8on,
BASF enables them to evaluate the company's financial performance and make informed
decisions. The availability of local reports further enhances transparency by offering
stakeholders insights into BASF's regional opera8ons and performance.
6.2 Transparency of the financial Reports of Saudi Aramco
Aramco has made significant strides in enhancing its transparency in financial repor8ng. Since
its ini8al public offering (IPO) in 2020, Aramco has introduced quarterly financial repor8ng,
allowing stakeholders to access regular updates on its financial performance and opera8ons.
Through the Aramco website, stakeholders can access a range of financial reports and
presenta8ons, including annual reports, interim financial statements, and investor
presenta8ons. These reports provide valuable insights into Aramco's financial performance,
capital expenditures, and strategic ini8a8ves.
The introduc8on of quarterly financial reports by Aramco marks a significant step towards
greater transparency. Prior to the IPO, Aramco was not obligated to disclose quarterly financial
informa8on publicly.
Aramco's commitment to transparency in financial repor8ng aligns with its broader goals of
corporate governance and stakeholder engagement. By providing regular and comprehensive
financial informa8on, Aramco aims to enhance trust, facilitate informed decision-making, and
ensure transparency in its opera8ons.
may not capture recent developments or updates in the company's financial repor8ng.
11. 11
6.3 Summary
In the analysis of the financial reports, both BASF and Saudi Aramco demonstrate a
commendable level of transparency. However, it is noteworthy that BASF has been consistently
providing transparent financial repor8ng for 21 years longer than Saudi Aramco.
BASF's financial reports are well-structured and comprehensive, allowing stakeholders to
access a wealth of informa8on. Addi8onally, BASF goes the extra mile by providing country-
specific reports, such as "BASF Japan 2022," which offer addi8onal insights into the company's
opera8ons.
While Saudi Aramco has made strides in improving its transparency following its IPO in 2020,
BASF's extensive track record and provision of detailed financial informa8on posi8on it as a
leader in this aspect. The availability of country-specific reports further underscores BASF's
commitment to transparency and stakeholder engagement.
7 Transparency in CO2 Emissions Repor4ng
Transparency in CO2 emissions repor8ng within the chemical and oil industries are known to
be significant contributors to global carbon dioxide emissions. Specifically, the CO2 emissions
of BASF and Saudi Aramco will be analyzed, shedding light on the transparency of their
emissions data.
Concerns about climate change and environmental sustainability have elevated the
importance of transparent and accurate repor8ng of carbon footprints for companies. The
chemical and oil sectors, as major players in the global energy landscape, bear a significant
responsibility in addressing their CO2 emissions and promo8ng transparency in repor8ng.
The aim of this chapter is to assess the level of transparency in the CO2 emissions data
disclosed by BASF and Saudi Aramco. Transparency, in this context, refers to the availability,
accuracy, and comprehensiveness of emissions data, enabling stakeholders to understand the
environmental impact of these organiza8ons.
By examining the transparency of CO2 emissions data, valuable insights can be gained into the
companies' commitment to addressing climate change, sefng emission reduc8on targets, and
adop8ng sustainable prac8ces.
12. 12
7.1 Transparency in CO2 Carbon footprint of BASF
The company has established a comprehensive sec8on on its website specifically focused on
CO2 emissions, providing stakeholders with valuable insights into its environmental impact
and mi8ga8on efforts.
By visi8ng the website, stakeholders gain access to detailed informa8on regarding BASF's
corporate carbon footprint. The webpage highlights the company's systema8c approach to
measuring, repor8ng, and reducing greenhouse gas emissions.
The company provides a breakdown of emissions by source, including direct emissions from
its own processes, as well as indirect emissions from purchased energy and other sources. This
transparent breakdown enables stakeholders to gain a comprehensive understanding of the
main contributors to BASF's carbon footprint.
Furthermore, BASF sets specific targets for reducing its CO2 emissions, illustra8ng its proac8ve
stance towards mi8ga8ng its environmental impact. The company strives for con8nuous
improvement by op8mizing energy efficiency, implemen8ng innova8ve technologies, and
promo8ng the use of renewable energy sources within its opera8ons.
Figure 2: Development of greenhouse gas emissions of the BASF Group (Scope 1 and 2)
The transparency of BASF's CO2 repor8ng is commendable, as it goes beyond basic repor8ng
requirements. By making this informa8on easily accessible and providing clear insights into its
emissions data and reduc8on strategies, BASF demonstrates its commitment to transparency
and environmental responsibility. The establishment of a dedicated CO2 transparency sec8on
13. 13
on its website showcases BASF's commitment to open communica8on, stakeholder
engagement, and accountability. BASF sets a posi8ve example for the chemical industry by
demonstra8ng a strong focus on transparency in CO2 emissions repor8ng.
7.2 Transparency in CO2 Carbon footprint of Saudi Aramco
Saudi Aramco faces challenges in terms of CO2 emissions transparency. However, the company
has taken steps to address its environmental impact and enhance transparency.
Saudi Aramco is responsible for approximately 5% of global greenhouse gas emissions,
signifying its substan8al contribu8on to climate change. To communicate its sustainability
efforts, the company provides an Environmental Report on its website.
While specific details on CO2 emissions are not explicitly men8oned, the Environmental
Report demonstrates Saudi Aramco's commitment to sustainability repor8ng.
While further improvements in CO2 emissions transparency may be needed, Saudi Aramco's
publica8on of the Environmental Report marks a step towards enhanced transparency.
Nevertheless, the existence of the Environmental Report showcases the company's efforts to
promote transparency and accountability regarding its environmental impact.
Moving forward, it is important for Saudi Aramco to con8nue enhancing its CO2 emissions
repor8ng by providing more specific informa8on on its carbon footprint.
Figure 3: Greenhouse Emission Scope 1 Saudi Aramco
14. 14
8 Accident Inves4ga4on in the Chemical Industry
Chemical companies are no strangers to accidents due to the inherent risks involved in their
opera8ons. However, the chemical industry recognizes that chemical accidents can severely
damage the company's reputa8on and significantly impact its stock price. Consequently, the
industry places great emphasis on safety as a top priority.
Chemical accidents have the poten8al to cause significant harm, including human safety
hazards, environmental damage, legal consequences, regulatory scru8ny, increased insurance
costs, and a loss of public trust. Investors closely monitor the safety records of chemical
companies, as accidents can have a detrimental impact on their market performance and stock
prices. Therefore, the chemical industry places paramount importance on safety to protect its
reputa8on and maintain stakeholder confidence.
Accident inves8ga8on plays a crucial role in understanding the causes of incidents, iden8fying
areas for improvement, and implemen8ng preven8ve measures. It involves a systema8c
examina8on of factors such as human errors, equipment failures, process devia8ons, and
organiza8onal shortcomings. By conduc8ng thorough accident inves8ga8ons, chemical
companies aim to uncover root causes, learn from past mistakes, and enhance safety protocols
and prac8ces.
The industry's commitment to safety and robust accident inves8ga8on is aimed at ensuring
the safety of opera8ons, protec8ng reputa8on, and maintaining stakeholder trust.
8.1 Transparency of Accident InvesLgaLon of BASF
BASF places a strong emphasis on safety and has implemented various measures to ensure a
safe working environment. However, despite its efforts, accidents can s8ll occur within the
company. While BASF is renowned for its safety prac8ces, it is essen8al to acknowledge that
accidents can happen even in the safest workplaces. In 2017, for example, an explosion at a
BASF facility resulted in the unfortunate loss of five lives.
BASF maintains a rigorous safety culture by requiring employees to undergo mul8ple safety
tests and following to personal protec8ve equipment (PPE) guidelines, including helmet
requirements. The company also conducts comprehensive annual assessments of damage
preven8on in all its opera8ons.
15. 15
However, it is notable that BASF does not provide a comprehensive accident report on its
official website, documen8ng and inves8ga8ng each incident that occurs within the company.
Informa8on about accidents is primarily obtained through local media sources. While BASF
may release statements related to such incidents in the press sec8on of its website, detailed
accident reports are not publicly available.
The lack of publicly accessible accident reports on BASF's official website makes it challenging
to obtain comprehensive informa8on on each incident and its inves8ga8on.
8.2 Transparency of Accident InvesLgaLon of Saudi Aramco
Aramco, headquartered in Saudi Arabia, operates in a region where oil fields are prone to
security threats, including drone a[acks. While the company has made efforts to ensure safety
and security within its opera8ons, incidents have occurred that warrant comprehensive
accident inves8ga8on and transparency. However, it is notable that detailed informa8on and
reports regarding these incidents are not readily available on Aramco's official websites.
One significant incident that occurred in 2007 was the explosion of a gas pipeline, resul8ng in
the tragic loss of 28 lives. This incident highlights the importance of thorough accident
inves8ga8on and preven8ve measures. However, the lack of accessible informa8on on official
Aramco sources raises concerns about the transparency of the company's approach to
addressing and communica8ng incidents to the public.
Transparency is a crucial element in building trust and accountability.
While it is understandable that Aramco operates within a complex geopoli8cal landscape and
faces security concerns, it is essen8al for the company to strike a balance between security
considera8ons and transparency. Open communica8on about incidents, including providing
informa8on on causes, consequences, and measures taken to prevent future occurrences,
would foster a greater sense of accountability and trust among stakeholders.
By proac8vely sharing informa8on on incidents, Aramco would demonstrate its commitment
to transparency, responsible prac8ces, and addressing poten8al risks. Transparency would not
only enhance stakeholder confidence but also contribute to industry-wide learning and the
development of best prac8ces in safety and incident management.
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8.3 Conclusion
In conclusion, while BASF is widely recognized for its safety prac8ces and commitment to
employee well-being, there is room for improvement in the transparency of its accident
repor8ng. The company's stringent safety measures and protocols aim to prevent incidents
and create a safe working environment. However, accidents can s8ll occur, as evidenced by
unfortunate incidents such as the 2017 explosion that resulted in the loss of lives.
To further enhance transparency and accountability, it would be beneficial for BASF to
establish a publicly accessible and transparent document that lists all accidents, including
details on the substances involved and the resul8ng harm to individuals. Such a document
would provide stakeholders with a comprehensive understanding of incidents, facilitate
greater transparency in accident repor8ng, and demonstrate BASF's commitment to learning
from past incidents.
By implemen8ng a transparent repor8ng system, BASF would not only fulfill its responsibility
to stakeholders but also contribute to industry-wide knowledge sharing and best prac8ces.
The availability of detailed accident reports would promote a collec8ve learning environment,
allowing other companies and stakeholders to understand the causes, consequences, and
preven8ve measures associated with accidents in the chemical industry.
Furthermore, transparent repor8ng can strengthen public trust, foster accountability, and
demonstrate BASF's commitment to open communica8on. It would provide an opportunity for
the company to showcase its dedica8on to con8nuous improvement and proac8ve safety
measures.
While Aramco faces unique security challenges and operates within a complex geopoli8cal
landscape, there is a need for greater transparency and communica8on regarding incidents
that occur within the company's opera8ons. Providing accessible informa8on on incidents,
including causes and preven8ve measures, would enhance stakeholder trust, accountability,
and the company's commitment to safety. Striking a balance between security considera8ons
and transparency is crucial for maintaining stakeholder confidence and promo8ng industry-
wide learning.
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9 Solu4ons for the Iden4fied Issues
For BASF and Saudi Aramco, transparent repor8ng mechanisms, including comprehensive
financial reports, detailed accident inves8ga8ons, and regular updates on safety prac8ces, are
essen8al.
To bolster transparency, both companies can consider publishing comprehensive reports that
include informa8on about their opera8ons, supply chains, environmental impact, and incident
reports.
By placing transparency at the forefront, BASF and Saudi Aramco can foster a culture of
openness, accountability, and con8nuous improvement.
9.1 Transparency soluLon for BASF
BASF is regarded as a highly transparent company, as evidenced by its well-structured website
that allows for quick access to a wealth of informa8on. This strong online presence contributes
to the percep8on of BASF as trustworthy and transparent. Stakeholders can easily obtain all
financial reports and, addi8onally, access annual reports specific to each country where BASF
operates. In these areas, there is no apparent need for improvement regarding transparency.
However, one area that requires a[en8on is the adequacy of accident inves8ga8on and
repor8ng. Currently, the responsibility for providing informa8on on incidents is mostly leN to
local media sources. To enhance transparency in this regard, it is recommended that BASF
establish a dedicated department responsible for conduc8ng and dissemina8ng accident
inves8ga8ons in a transparent manner, making the informa8on readily available to the public.
By implemen8ng this improvement, BASF can demonstrate a commitment to transparency and
proac8ve communica8on. The establishment of such a department would ensure that
accident inves8ga8on reports are accessible to the public, fostering transparency,
accountability, and trust. This step would align BASF with industry best prac8ces and
contribute to the company's overall goal of enhancing transparency and stakeholder
engagement.
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9.2 Transparency soluLon for Saudi Aramco
Saudi Aramco indeed faces significant transparency challenges. The company's transparency
has improved to some extent following its ini8al public offering in 2020, as it must comply with
stock exchange regula8ons. However, the transparency issue at Saudi Aramco is not easily
resolved due to several factors.
One of the major obstacles is the company's ownership structure, with the Saudi Arabian royal
family being the largest shareholder. The royal family's stance on equality and transparency
may not align with interna8onal standards. Addi8onally, Saudi Aramco holds the 8tle of the
world's largest CO2 emi[er, despite expressing inten8ons to become more climate neutral.
However, concrete measures to address this issue are not readily evident.
The geopoli8cal situa8on in the Middle East further complicates ma[ers, as the region
experiences ongoing conflicts and daily bombings. Resolving this issue is beyond the control
of Saudi Aramco.
To improve transparency at Saudi Aramco, there is a need for more open communica8on on
all relevant topics. However, this requires greater press freedom within the country. Achieving
transparency at Saudi Aramco necessitates significant steps, including press freedom, peace in
the region, and the willingness of the Saudi government to priori8ze transparency.
One poten8al driver for an image shiN could be the involvement of Western investors. Saudi
Aramco is compelled to become more transparent to a[ract such investors. However,
achieving this transparency requires a comprehensive transforma8on that encompasses not
only internal policies and prac8ces but also broader societal and governmental changes.
It is crucial to recognize that addressing the transparency challenges at Saudi Aramco is a
complex and mul8faceted endeavor that requires significant efforts from various stakeholders.