DOCSLIB.ORG

OCP 2019 Sustainability Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
OCP 2019 Sustainability Report SUSTAINABILITY REPORT Working together for sustainable agriculture 2 OCP / 2019 SUSTAINABILITY REPORT OCP / 2019 SUSTAINABILITY REPORT 3 SUMMARY P.06-07 P.10-11 P.34 - 35 MESSAGE 1. ABOUT 2. SUSTAINABLE FROM OUR CEO OUR GROUP DEVELOPMENT: 1.1. Activities & Products 12 OUR INTEGRATED 1.2. Value Creation Model 24 APPROACH 1.3. Local Contribution, 2.1. OCP's sustainability 36 Global Presence 26 context 1.4. Innovative, 2.2. Stakeholder engagement 38 Agile & Committed Governance 30 2.3. Materiality Analysis 44 4 OCP / 2019 SUSTAINABILITY REPORT P.46 - 47 P.184-185 3. OUR SUSTAINABILITY 4. ABOUT COMMITMENTS THIS REPORT 3.1. Commitments to responsible 48 4.1. GRI content principles 186 and inclusive management note 3.2. Commitments to sustainable 88 4.2. GRI Content Index 192 production 4.3. Correspondence tables 200 3.3. Commitments to shared 158 value creation 4.4. Glossary 203 OCP / 2019 SUSTAINABILITY REPORT 5 GRI 102-14 Our strong and resilient response to the dramatic challenges of 2020 was made possible in no small part by the great progress that we made during 2019 across all our compre- hensive sustainability programs. MESSAGE Our lean operations have been shaped by our commitment to the Circular Economy. We want to achieve more positive impacts with fewer inputs and with as close to zero negative externalities as possible. Our investments in non-traditional water supply, renewable FROM energy and partnering with international firms to create local specialist skills have all played their role in sustainable conti- nuity and continuing sustainability. Commitment to feed the planet is today, more than ever, a responsibility for us and for everyone involved in the food OUR CEO sector. Being able to feed one’s family is a fundamental human need and right, already endangered for many and made worse in times of crisis. Strengthening resiliency across the entire agriculture & food value chain – locally and globally – is a key challenge at the moment, and a key We are proud to present the OCP Group’s second Sustain- reminder of how the world depends on our sector. ability Report that has been prepared in accordance with the GRI standards: core option which details our continued progress in embedding sustainability across our business. Sustainability is a central element of our business strategy. As custodians of the As custodians of the world’s largest reserves of phos- world’s largest reserves of phate – a vital element for all plant, animal and human life on earth - we have a genuine responsibility to operate as phosphate – a vital element sustainably and safely as possible, to ensure that the world’s farmers have access to the plant nutrients they need to feed for all plant, animal and a growing world population. human life on earth - we have So, we are delighted to have achieved substantial improve- ments on so many of our key targets in the past year. Just a genuine responsibility to as importantly, compiling comprehensive data has allowed us to think about our business differently, by understanding operate as sustainably and how we can continuously improve our performance while integrating the impact of our efforts on people, communities, safely as possible, to ensure and the planet. that the world’s farmers have Given the events of 2020, this is especially important as the sustainability of our vision and operations has come to take access to the plant nutrients on a new dimension in light of COVID-19. While fully focused on the health and safety of our team, our partners and the they need to feed a growing communities around us, we have stayed totally committed to maintaining reliable supply of our products to farmers, world population. distributors and manufacturers around the world. Feeding the soil to feed the planet has taken on a more We remain committed to sharing our progress transpar- profound meaning this year. Suddenly, developed and ently through this report, as we welcome external oversight developing economies faced the same concern about food and a collective approach to solving key challenges. I would security. The good news is that farmers, manufacturers and like to highlight some of the key accomplishments detailed retailers rose to the challenge. in this report: And OCP played its part in this. Despite adopting new ways of working to minimize the risks to our teams, we have been OUR PEOPLE able to maintain 100% of our planned mining and fertilizer In 2019, we reduced our combined Lost Time Injury production. We made sure that farmers around the world Frequency Rate (LTIFR) confirming we are on the right path could continue to successfully grow crops and we continued to be the safest place to work. That is the result of contin- our programs to support them – training, funding and uous efforts across the organization to embed a mature market access. safety culture and reach our ambitious “0 incident” target. 6 OCP / 2019 SUSTAINABILITY REPORT GRI 102-14 against climate change. Over the last decade, although we tripled fertilizer production, we have succeeded in keeping our carbon emissions at the same level. We are targeting a 50% reduction in total SO2 emissions by 2025 and improving air quality through the extension of the Sulfacid technology, emissions monitoring systems and as well as gas washing units. OUR ENERGY We continued our progress towards using 100% clean elec- tricity - both cogeneration & renewable - by 2030. In 2019, 86% of our electrical needs were covered by clean energy. Hydrogen as a research path is set at the heart of our energy development strategy, with major steps achieved for the production of a green, carbon neutral ammonia. OUR WATER Our goal is to reduce our total water consumption by 15% by 2024 and to supply 100% of our water needs from non-con- ventional sources by 2030. We have been building the infrastructure to start filtering sludge at our mines. Sharing and learning from each other are vital to reduce water stress and in 2019 we joined the Moroccan Coalition for Water (COALMA) an NGO acting under the highest umbrella of de World Water Council. OUR ENGAGEMENT FOR FARMERS We continue to work with farmers across the globe on how to increase yield while supporting a sustainable farming. Powered by data, we are tailoring our products to fit each soil and each crop, and to meet reel farmers needs, and we are seeing our customized fertilizers gaining use as farmers increasingly understand their benefits. In 2019, we strength- ened the impact of our flagship initiatives for African farmers, who are vital actors in feeding not only their own continent but the entire planet, and are working hard to expand their productivity in a sustainable and resilient fashion. We launched major new development programs. BEYOND is aimed at our younger colleagues to develop the skills OUR COMMUNITIES they will need in the decades ahead. IMPULSE, run by the Mohammed VI Polytechnic University, is a world-class In 2019, we increased our total community investments by start-up acceleration program for talented entrepreneurs 35% locally, nationally and internationally. Education, equal in agritech, biotech, nanotech and mining technologies to opportunity, entrepreneurship, health, culture and sustain- foster innovation for African sustainable development. able cities are key pillars of our community engagement. All of these successes are important in their own right, but OUR MINES more so collectively because they give us the confidence to We are continuously working to preserve our phosphate target even more ambitious goals and build our knowledge reserves through the recovery of low phosphorous content and skills to do that. phosphates and recycling byproducts. In 2019, our inno- We will keep on raising the bar especially when it comes to vation for phosphogypsum recovery is getting more and the sustainable development goals we can have the most more mature, bringing us closer to valorize this by product leverage on to strategically contribute to the Agenda 2030. in roads, agriculture and construction. Our teams have also initiated research to produce organic fertilizer from organic OCP Group is committed to becoming the most sustainable waste generated across the country. business it can be and we are grateful for your interest in this report. OUR PRODUCTION SITES Thank you. Our largest commitment - to achieve carbon neutrality by 2040 – calls for continued mitigation and adaptation meas- Mostafa Terrab ures across our operations, services & products to fight Chairman and Chief Executive Officer OCP / 2019 SUSTAINABILITY REPORT 7 OUR CONTRIBUTION TO THE SUSTAINABLE DEVELOPMENT GOALS (SDGs) OCP Group has contributed to the Sustainable Development Goals through its integrated Sustainable Development Strategy, its investments, and its 2019 achievements. This contribution operates at different levels and reflects the company’s commitment with respect to management, produc- tion, and shared value creation across the entire value chain. GRI STANDARDS SDG 1 SDG 2 SDG 3 SDG 4 SDG 5 SDG 6 SDG 7 SDG 8 SDG 9 SDG 10 SDG 11 SDG 12 SDG 13 SDG 14 SDG 15 SDG 16 SDG 17 RESPONSIBLE AND INCLUSIVE MANAGEMENT COMMITMENTS Transparent, innovative & ethical governance GRI 412 Sustainable economic growth GRI 201 Responsible & committed employer GRI 401, 402, 403, 404, 405 Responsible procurement practices GRI 204, 308, 414 SUSTAINABLE PRODUCTION COMMITMENTS Operational excellence GRI 301, 302, 303, 304, 305, Circular economy 306, 307 Resource preservation GRI 301 GHG emissions management GRI 305 Emissions management
Load more

Recommended publications
  • Egypt, Jordan, Morocco and Tunisia: Key Trends in the Agrifood Sector
    Egypt, Morocco, Tunisia and Jordan - and Jordan Tunisia Morocco, Egypt, Egypt, Jordan, Morocco and Tunisia Key trends in the agrifood sector in the agrifood Key trends Key trends in the agrifood sector Please address comments and inquiries to: Investment Centre Division Food and Agriculture Organization of the United Nations (FAO) Viale delle Terme di Caracalla – 00153 Rome, Italy [email protected] 22 Report No. www.fao.org/investment/en Report No. 22 - September 2015 I4897E/2/11.15 Egypt, Jordan, Morocco and Tunisia Key trends in the agrifood sector Nuno Santos Economist, Investment Centre Division, FAO Iride Ceccacci Food Security Economist, EBRD COUNTRY HIGHLIGHTS prepared under the FAO/EBRD Cooperation FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS Rome, 2015 The designations employed and the presentation of material in this information product do not imply the expression of any opinion whatsoever on the part of the Food and Agriculture Organization of the United Nations (FAO) or the European Bank for Reconstruction and Development (EBRD) concerning the legal or development status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The mention of specific companies or products of manufacturers, whether or not these have been patented, does not imply that these have been endorsed or recommended by FAO or the EBRD in preference to others of a similar nature that are not mentioned. The views expressed in this information product are those of the author(s) and do not necessarily reflect the views or policies of FAO or the EBRD.
    [Show full text]
  • Informational Materials
    Received by NSD/FARA Registration Unit 12/08/2020 10:51:33 PM The following is a copy of the content of the website https://www.standwithusfarmers.com/ distributed by Fleishman-Hillard Inc. on behalf of OCP S.A. (together with its affiliates "OCP Group"). Received by NSD/FARA Registration Unit 12/08/2020 10:51:33 PM Stand with TAKE ACTION US. FARMERS LEARN MORE OPPOSING TARIFFS ON FERTILIZERS RESOURCES U.S. FARMERS ARE AT RISK. Join the fight to protect farmers' access to high-quality fertilizers. / / * i ! / / ( * * . i f i ^ Learn More Take Action Now ft % # <* * it * . ii w M' 4’ f il I! V fi w JF' JP i tin.1I . m , T' .. » STAND WITH U.S. FARMERS. OPPOSE TARIFFS ON FERTILIZERS. Farmers already face challenges as they struggle to survive a six-year downturn. The last thing they need Is a limited supply of fertilizers and increased costs. * A recent development in Washington D.C. poses a threat to farmers and the agriculture industry. The U.S. Department of Commerce has announced preliminary countervailing duties (i.e. tariffs) of 23.46% on imports of phosphate fertilizer from Morocco. The Mosaic Ccmoanv the sacand Iarae3tmhpscl7rat® tertitiseMDrortacer ip the worid, asked.thi “PSSMiWMti ditii^hBreooi crpotenwa ny snutrtjppetr 12/08 1:33 PM and hand them a near monopoly in the U.S. This will hurt countless farmers by reducing choice and supply, and increasing the cost of critical fertilizers. Criticism has been swift and broad across the agriculture sector. Elected officials and a growing list of voices are strongly expressing their opposition to Mosaic's petition.
    [Show full text]
  • Solutions from an Environmental, Political, Social and Economic Perspective
    Morocco’s economy is growing at a sustained pace involving critical development activities in sectors like: Industry; agriculture; tourism; and energy. The water demand of these sectors will have to be met against the backdrop of shrinking water resources and amidst rapidly growing competition for water use. For the Public Disclosure Authorized country, adaptation to climate change is the cornerstone of any program or policy on sustainable development. Some economic sectors or ecosystems are more sensitive than others are to climate change and groundwater depletion is at the centre of all these concerns. FAO/WB Cooperative Public Disclosure Authorized Programme. Nationally determined contribution support on the groundwater, energy and food security nexus in Morocco. Final Draft Public Disclosure Authorized Ismail Oudra / Water Resources Specialist, (FAO-TCIA) Peter Talks / Agricultural Policy Specialist, (FAO-Consultant) The opinions expressed in this report remain solely those of the authors and not of the Government of Morocco. Public Disclosure Authorized 1 | P a g e FAO/WB Cooperative Programme: Nationally determined contribution support on the groundwater, energy and food security nexus in Morocco. CONTENTS Executive summary ................................................................................................................................................ 0 Acronyms .............................................................................................................................................................
    [Show full text]
  • Greening the Agriculture System: Morocco's Political Failure In
    Greening the Agriculture System: Morocco’s Political Failure in Building a Sustainable Model for Development By Jihane Benamar Mentored by Dr. Harry Verhoeven A Thesis Submitted in Partial Fulfilment of the Requirements for the Award of Honors in International Politics, Edmund A. Walsh School of Foreign Service, Georgetown University, Spring 2018. CHAPTER 1: INTRODUCTION ............................................................................................................ 2 • THE MOROCCAN PUZZLE .................................................................................................... 5 • WHY IS AGRICULTURAL DEVELOPMENT IMPORTANT FOR MOROCCO? .............................. 7 • WHY THE PLAN MAROC VERT? .......................................................................................... 8 METHODOLOGY ................................................................................................................... 11 CHAPTER 2: LITERATURE REVIEW ................................................................................................ 13 • A CONCEPTUAL FRAMEWORK FOR “DEVELOPMENT”....................................................... 14 • ROSTOW, STRUCTURAL ADJUSTMENT PROGRAMS (SAPS) & THE OLD DEVELOPMENT DISCOURSE ......................................................................................................................... 19 • THE ROLE OF AGRICULTURE IN DEVELOPMENT .............................................................. 24 • SUSTAINABILITY AND THE DISCOURSE ON DEVELOPMENT & AGRICULTURE ................
    [Show full text]
  • Delegate List As of 25 January 2019
    Delegate List as of 25 January 2019 job title company country Managing Director 7Seas Trading Ltda Brazil Chartering Manager AAL Shipping, USA United States Abo Zaabal Fertilizers & Chemicals - The Chairman Polyserve Group Egypt Ing. Agronomo Abodom Dominican Republic Manager ACF Minera Spain Vice-President Overseas Acron PJSC Russian Federation President Acron USA Inc. United States Consultant Acron USA Inc. United States Gerente Commercial Latin America Actagro United States Vice President, Global Business Development & Strategy Actagro United States Quality Manager Adfert Aditivos Brazil International Sales Adfert Aditivos Brazil Commercial Manager Adfert Aditivos Brazil Research & Development Manager Adfert Aditivos Brazil Gerente Comercial ADM Mexico Sa De Cv Mexico Manager Sales AdvanSix United States Business Director AdvanSix United States Global Sales Manager AdvanSix United States Central & South American Sales Manager AGI Fertilizer Systems United States International Director Fertilizer AGI Fertilizer Systems United States Professional Specialist Agra Group A.s. Czech Republic Economist Agrefert. AR SA Argentina CEO Agricenter Zevilla SA de CV Mexico COO Agricenter Zevilla SA de CV Mexico Managing Director Agri-Chem Corporation Guatemala Executive Director Agrifert Liven International Pte Ltd Singapore Commercial Director Agroconsult Estudos Setoriais Brazil Logistics and Purchasing Manager Agrofactory SA de CV Mexico Executive Director Agrofactory SA de CV Mexico Manager Agrofertrans Ltd Ukraine General Manager Agrogestion
    [Show full text]
  • Eu-Mediterranean Relations in the Field of Agriculture
    POLICY PAPER 91 18 APRIL 2013 EU-MEDITERRANEAN RELATIONS IN THE FIELD OF AGRICULTURE THE EXAMPLE OF MOROCCO AND TURKEY Raúl Compés López | Professor of agricultural economics at the Universitat Politécnica de Valencia José-María García-Álvarez-Coque | Professor of agricultural economics at the Universitat Politécnica de Valencia Tomás García Azcárate | Civil servant at the DG Agriculture of the European Commission and lecturer at the Institute for European Studies of the Université Libre de Bruxelles (IEE-ULB) SUMMARY The EU institutional relationships with the Middle East and North African countries (MENA) started in the 50’s and are currently defined by the European Neighbourhood Policy (ENP). Trade liberalisation plays a key role between the EU and the MENA countries. The Barcelona process or “Euro-Mediterranean Partnership” aims to establish a Euro-Mediterranean Free Trade Area. Currently there is duty free access to the EU market for manufac- tured goods and preferential treatment for exports of agricultural, processed agricultural and fisheries products. EU and MENA countries share common interests but have some issues that require pro-active strategies for cooperation in order to avoid negative results. The political integration process for candidate countries (the case of Turkey) demands institutional adaptation to EU’s rules such as the Common Agricultural Policy (CAP). Trade liberalisation can be positive in net terms but it also creates losers. Accompanying measures are needed to ensure everybody’s well-being in the medium and long term. The MENA countries with deeper relations with the EU are Turkey and Morocco. The trade balance between Morocco and Turkey with the EU is globally favourable to the EU but negative in the case of the agricultural trade.
    [Show full text]
  • 04 - 2318236 - Western Sahara Research Project] [Released Under Official Information Act - April 2019] PAGE 24
    [Released under Official Information Act - April 2019] PAGE 23 C2 - Internal Use Only We welcome the withdrawal of all Frente Polisario elements from the Guerguerat area, between the berm and the border with Mauritania, as confirmed by MINURSO observers on 27-28 April. Together with the earlier withdrawal of Moroccan elements from the area, in response to the urging of the Secretary-General, this action should improve the prospects of creating an environment that will facilitate early implementation of the Secretary-General's determination to relaunch the negotiating process with a new dynamic and a new spirit that reflect the Security Council's guidance and resolutions, with the aim of reaching a "mutually acceptable political solution which will provide for the self-determination of the people of Western Sahara". We continue to call on the parties to adhere to their obligations under the ceasefire agreement and to respect both its letter and spirit, and to cooperate fully with MINURSO. The need to ensure that tensions do not erupt anew in the Guerguerat area remains vital. To this end, MINURSO intends to maintain the position it has held in the Buffer Strip since August 20165 and further discuss the Mission 's future monitoring of the area and the full range of issues related to the Buffer Strip with the parties. Stephane Dujarric, Spokesman for the Secretary-General The MINURSO mandate is due to renew in April 2018. As a whole, the EU Court of Justice takes an international law approach to the WS situation. Europe recognises that the WS is a non-self-governing territory, in the process of decolonisation.
    [Show full text]
  • Ocp Reports Earnings for Fourth Quarter 2019
    OCP REPORTS EARNINGS FOR FOURTH QUARTER 2019 Casablanca, Morocco, February 28, 2020 - OCP S.A. (“OCP” or the Company”), a global leader in the fertilizer industry, today reported results for the fourth quarter of 2019, pursuant to the AMMC (Moroccan Capital Market Authority) circular 03/19 on financial transactions and information, dated February 20, 2019 and issued in the Official Bulletin on June 7th 2019. OCP Group will report its detailed full year results on March 24th 2020. KEY INDICATORS (In millions of dirhams) FY-2019 FY-2018 4Q-2019 4Q-2018 Revenue 54 092 55 906 11 638 14 806 Capital expenditures 13 964 10 801 5 456 3 601 PRESS RELEASE FOURTH QUARTER 2019 FINANCIAL RESULTS For the fourth quarter of 2019, revenues reached MAD 11,638 million, compared with MAD 14,806 million in the fourth quarter of 2018. The decrease is mainly driven by lower fertilizer prices due to challenging market conditions over the quarter compared to the same period last year. The Group is pursuing its investment program with capital expenditures reaching MAD 5,456 million in the fourth quarter of 2019, compared to MAD 3,601 million in the year-ago period. ABOUT OCP GROUP OCP Group is a leading global fertilizer player, with almost a century of history serving the phosphate industry and agriculture. OCP offers a wide range of fertilizers used to enrich the soil and meet local crop needs. Fully integrated throughout the value chain, the Group has a unique position in the industry through a significant presence in the three segments of the value chain: phosphate, phosphoric acid and phosphate fertilizers.
    [Show full text]
  • OCP NORTH AMERICA JOINS FIELD to MARKET Pledges to Promote Opportunities for Continuous Improvement in Sustainability of Agricultural Production
    OCP NORTH AMERICA JOINS FIELD TO MARKET Pledges to Promote Opportunities for Continuous Improvement in Sustainability of Agricultural Production OCP North America announced today that it has joined Field to Market : The Alliance for Sustainable Agriculture, a multi-stakeholder initiative working to unite the agricultural supply chain in defining, measuring and advancing the sustainability of food, fiber and fuel production. Field to Market engages in broad communication and collaboration with stakeholders to ensure a coordinated, outcomes-based approach to sustainable agriculture that is grounded in science. By providing useful measurement tools and resources, Field to Market helps growers and the supply chain track and promote continuous improvement at the field and landscape levels. “Field to Market is an important convening platform, bringing together experts from across the agriculture PRESS RELEASE industry and allowing us to learn from their experiences in implementing successful collaborations for sustainability,” said Krista Maruca, Senior Program Officer for Sustainability and Corporate Engagement at OCP North America. “We see membership as an opportunity to facilitate partnerships with companies throughout the supply chain that share our values and goals in sustainable agricultural production. And it will allow us to reach farmers on issues of nutrient stewardship, soil health, and water quality in new ways.” Through membership in Field to Market, OCP North America seeks to support farmers in their efforts for continuous improvement in sustainable production in order to promote resilient ecosystems and enhance farmer livelihoods. As an active member, OCP North America is exploring opportunities to support in-field projects that emphasize environmental outcomes linked to nutrient stewardship, such as soil and water quality.
    [Show full text]
  • Morocco's Efforts on the Knowledge Economy
    Morocco's efforts on the knowledge economy Abelkader DJEFLAT Consultant CMI Revised, September 2012 1 List of tables Table n°1: Classification of Mena countries according to KEI level and level of unemployment Table n°2 : Progress made by Morocco in Health and Education Table n°3 : Doing business in Morocco Table n°4 : the Building blocks of the Green Morocco Plan Table n°5: The six resorts benefiting from the Plan Azur (initial plan) Table n°6: Les five resorts planned in the Plan Azur 2020 (revised plan) Table n°7: The main components of the “Maroc Innovation Initiative” Table n°8 : Expected growth and balance of public/private funding of R&D by 2025 List of figures Figure n°1: GDP per capita in constant 2000 PPP adjusted dollars Figure n°2: Composition of output (%) Morocco and comparators Figure n°2b: Various trade agreements of Morocco Figure n°4 : The openness of the economy 1995-2004 Figure n°5: Rate of unemployment and age group (2011) Figure n°6: Percentage of first job seekers (2008) Figure n°7: Diversification Index (2008) Figure n°8: Diversification export index in Mena countries 2006 Figure 9: The HHI exports concentration index for selected countries Figure n°10: Morocco compared to Argentina and Turkey through KEI (KAM 2012) Figure n°11: Elements of the Global Competitiveness index in Morocco (2010 – 2011) Figure n°12: Doing Business Morocco ranking (2011 – 2012) Figure n°13 :Venture Capital Availability (2009-2010) Figure n°14: The Most Problematic Factors for Doing Business Figure n°15 : Scores of the education index
    [Show full text]
  • Consolidated Financial Statements at 31 December 2016
    CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2016 www.ocpgroup.ma Contents Key figures and significant events of the period KEY FIGURES 4 SIGNIFICANT EVENTS OF THE PERIOD 4 EVENTS AFTER THE REPORTING PERIOD 4 Consolidated financial statements CONSOLIDATED STATEMENT OF PROFIT AND LOSS 5 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 6 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 7 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 8 CONSOLIDATED STATEMENT OF CASH FLOWS 10 Notes to consolidated financial statements NOTE 1 - ACCOUNTING RULES AND METHODS 11 NOTE 2 - CONSOLIDATION SCOPE 12 NOTE 3 - SEGMENT REPORTING 14 NOTE 4 - OPERATIONAL DATA 17 NOTE 5 - EXPENSES AND EMPLOYEE BENEFITS 21 NOTE 6 - INVESTMENTS IN ASSOCIATES AND JOINT VENTURES 24 NOTE 7 - OTHER OPERATING ITEMS 28 NOTE 8 - PROPERTY, PLANT & EQUIPMENT AND INTANGIBLE ASSETS 29 NOTE 9 - PROVISIONS AND CONTINGENT LIABILITIES 35 NOTE 10 - FINANCIAL INSTRUMENTS, NET DEBT AND NET COST OF FINANCING 37 NOTE 11 - CORPORATE INCOME TAXES 47 NOTE 12 - EQUITY, PERPETUAL SUBORDINATED DEBT, DIVIDENDS AND EARNINGS PER SHARE 50 NOTE 13 - RELATIONS WITH THE STATE 52 Statutory auditors’ opinion on the consolidated financial information STATUTORY AUDITORS’ OPINION ON THE CONSOLIDATED FINANCIAL INFORMATION 53 Key figures and significant events of the period Key figures (In millions of dirhams) Note FY 2016 FY 2015 Revenues 4.1.1.2 42,471 47,747 Profit (loss) from joint ventures 6.1 123 358 EBITDA 12,777 17,659 Operating profit (loss) before exceptional items 8,301 13,820 Cost of net financial debt 10.1.5 (402) (363) Net profit (loss) - Group share 3,779 8,011 Consolidated equity - Group share 70,335 63,776 Net financial debt 38,019 35,247 Net operating investments 13,261 14,264 Basic and diluted earnings per share (in dirhams) 12.4 45.96 97.52 Dividend per share (in dirhams) 30.17 15.09 Significant events of the period Business LAUNCH OF JORF FERTILIZER COMPANY II IN JULY 2016 In order to strengthen the presence of OCP Group in the production of phosphate fertilizers, Jorf Fertilizer Company II became operational in July 2016.
    [Show full text]
  • Using Local Agroecological Knowledge in Climate Change Adaptation: a Study of Tree-Based Options in Northern Morocco
    sustainability Article Using Local Agroecological Knowledge in Climate Change Adaptation: A Study of Tree-Based Options in Northern Morocco Laura Kmoch 1,* , Tim Pagella 2 , Matilda Palm 1 and Fergus Sinclair 2,3 1 Division of Physical Resource Theory, Department of Space, Earth and Environment, Chalmers University of Technology, Maskingränd 2, SE-41293 Gothenburg, Sweden; [email protected] 2 School of Natural Sciences, Bangor University, Bangor LL57 2UW, UK; [email protected] (T.P.); [email protected] (F.S.) 3 World Agroforestry Centre (ICRAF), P.O. Box 30677, 00100 Nairobi, Kenya * Correspondence: [email protected]; Tel.: +46-76-077-2373 Received: 14 September 2018; Accepted: 8 October 2018; Published: 16 October 2018 Abstract: Communities in northern Morocco are vulnerable to increasing water scarcity and food insecurity. Context specific adaptation options thus need to be identified to sustain livelihoods and agroecosystems in this region, and increase the resilience of vulnerable smallholders, and their farming systems, to undesired effects of social-ecological change. This study took a knowledge-based systems approach to explore whether and how tree-based (i.e., agroforestry) options could contribute to meeting these adaptation needs. We analysed local agroecological knowledge of smallholders from the Mèknes–Tafilalet region, to (i) characterise existing farming systems at local landscape scale; (ii) identify possible niches for farm-trees within these systems; and (iii) explore locally perceived barriers to tree-based diversification. An iterative cycle of qualitative interviews, with a purposefully selected sample of 32 farmers, revealed that socio-economic constraints and agroecological conditions in the area differed markedly along a relatively short altitudinal gradient.
    [Show full text]