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BASF (BASFY) Monomers Gets Global Production Site Certification
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BASF SE’s (BASFY - Free Report) Monomers division has achieved a significant milestone in its sustainability journey, having achieved global ISCC PLUS and REDcert certifications for all production sites across all regions. With the certification of sites across the globe, BASF can now provide American customers with certified, sustainable Isocyanate solutions manufactured in the United States, ensuring a perfect fit for their product mix.
REDcert and ISCC PLUS are sustainability certifications provided for the use of sustainable biomass as raw material in the chemical industry.
The most recent accomplishment involves the MDI production site in Geismar, LA, USA, which, having secured certifications from ISCC PLUS and REDcert is now part of the certified locations worldwide.
The company remains focused on driving sustainable transformation and meeting the high standards set by international certifiers. The Monomers division has been committed to improving its portfolio to align with sustainability goals and cater to customers' diverse needs worldwide.
In January 2023, BASF's Monomers division pledged to develop a circular option for every major product line by 2025. Remarkably, just one year later, approximately 70% of its extensive portfolio, including isocyanates, polyamides, glues, resins, precursors and inorganics, are available in chemically recycled or biomass-balanced variants, LowPCF products, or even ZERO variants(Zero Emissions, Renewable Origin), totaling 345 certified sustainable product alternatives. These alternatives cater to various industries, such as food packaging, textiles, automotive, construction, wood binders, and more.
Moreover, the Monomers division continues to innovate by introducing novel solutions like polyol recycling and developing proprietary technologies that drive sustainability across industries. For instance, the introduction of loopamid addresses circularity in the fashion industry by recycling polyamide 6-based textile waste, allowing used fibers and materials to be recycled into new yarn while retaining material characteristics.
In addition to expanding its sustainable product portfolio, BASF's Monomers division implemented measures to reduce carbon emissions across its production sites globally. These efforts align with BASF's overarching sustainability target of achieving net-zero carbon emissions by 2050. Leveraging the benefits of BASF's global Verbund network, significant CO2 mitigation measures have been implemented, such as improved heat recovery measures at the Shanghai BASF Polyurethane site, which is expected to reduce CO2 emissions by up to 34,000 tons annually.
In the past year, BASF’s shares have gained 8.7% compared with the industry’s 6.8% fall in the same period.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #5 (Strong Sell).
Ecolab has a projected earnings growth rate of 22.65% for the current year. The Zacks Consensus Estimate for ECL’s current-year earnings has been revised upward by 5.4% in the past 60 days. ECL topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied 41.6% in the past year.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $4 per share, indicating a year-over-year surge of 250.9%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 12.2%. The company’s shares have increased 52.3% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a 26% year-over-year rise. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 69.8% in the past year.
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BASF (BASFY) Monomers Gets Global Production Site Certification
BASF SE’s (BASFY - Free Report) Monomers division has achieved a significant milestone in its sustainability journey, having achieved global ISCC PLUS and REDcert certifications for all production sites across all regions. With the certification of sites across the globe, BASF can now provide American customers with certified, sustainable Isocyanate solutions manufactured in the United States, ensuring a perfect fit for their product mix.
REDcert and ISCC PLUS are sustainability certifications provided for the use of sustainable biomass as raw material in the chemical industry.
The most recent accomplishment involves the MDI production site in Geismar, LA, USA, which, having secured certifications from ISCC PLUS and REDcert is now part of the certified locations worldwide.
The company remains focused on driving sustainable transformation and meeting the high standards set by international certifiers. The Monomers division has been committed to improving its portfolio to align with sustainability goals and cater to customers' diverse needs worldwide.
BASF SE Price and Consensus
BASF SE price-consensus-chart | BASF SE Quote
In January 2023, BASF's Monomers division pledged to develop a circular option for every major product line by 2025. Remarkably, just one year later, approximately 70% of its extensive portfolio, including isocyanates, polyamides, glues, resins, precursors and inorganics, are available in chemically recycled or biomass-balanced variants, LowPCF products, or even ZERO variants(Zero Emissions, Renewable Origin), totaling 345 certified sustainable product alternatives. These alternatives cater to various industries, such as food packaging, textiles, automotive, construction, wood binders, and more.
Moreover, the Monomers division continues to innovate by introducing novel solutions like polyol recycling and developing proprietary technologies that drive sustainability across industries. For instance, the introduction of loopamid addresses circularity in the fashion industry by recycling polyamide 6-based textile waste, allowing used fibers and materials to be recycled into new yarn while retaining material characteristics.
In addition to expanding its sustainable product portfolio, BASF's Monomers division implemented measures to reduce carbon emissions across its production sites globally. These efforts align with BASF's overarching sustainability target of achieving net-zero carbon emissions by 2050. Leveraging the benefits of BASF's global Verbund network, significant CO2 mitigation measures have been implemented, such as improved heat recovery measures at the Shanghai BASF Polyurethane site, which is expected to reduce CO2 emissions by up to 34,000 tons annually.
In the past year, BASF’s shares have gained 8.7% compared with the industry’s 6.8% fall in the same period.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are Ecolab Inc. (ECL - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Carpenter Technology Corporation (CRS - Free Report) and Hawkins, Inc. (HWKN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ecolab has a projected earnings growth rate of 22.65% for the current year. The Zacks Consensus Estimate for ECL’s current-year earnings has been revised upward by 5.4% in the past 60 days. ECL topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied 41.6% in the past year.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $4 per share, indicating a year-over-year surge of 250.9%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 12.2%. The company’s shares have increased 52.3% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a 26% year-over-year rise. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 69.8% in the past year.