Final Reporton

A Materiality Assessment of the

Agriculture Industry Sector

Prepared for

MOMENTIVE

By:

Sam Hollyer

Elizabeth Greenslade

Ryan Wampler

April 20, 2014

Prepared in fulfilment of course requirements at The Ohio State University for the major Environment, Economy, Development and Sustainability

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Table of Contents

Cover page…………………………………………………………………………………...........1

Table of contents……………………………………………………………………………….…2

Executive summary………………………………………………………………………………..3

Component A summary…………………………………………………………………………...4

Component B summary…………………………………………………………………………...6

Maturity map……………………………………………………………………………………...6

Materiality Matrix…………………………………………………………………………………8

Component C…………………………………………………………………………………….10

Sources……..…………………………………………………………………………………….15

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Executive Summary

In this report, topics regarding the Agrochemical Market Segment were examined and analyzed. Through three steps, or components, the research team was able to formulate a comprehensive report assessing current market leaders and laggards, as well as some strengths and weakness within the Agrochemical Market Segment. From the results of the research, recommendations were made that are intended to aid Momentive in regards to increasing their sustainability report and actions.

In Component A, the market segment was analyzed through the trends, challenges, stakeholders and other relevant topics. This was done with primary intention of being able to correctly understand and interpret the nature of the Agrochemical market. Component B dealt with assessing the materiality and maturity of nearly 15 companies, using reputable resources. From the data that was collected, a materiality and maturity map was developed to target the topics covered in Component C. The final component dealt with assessing the materiality and maturity maps and then formulating a strategic analysis of the Agrochemical Market Segment. From there the research team made a few recommendations that Momentive could take in order to increase their sustainability report, their actions, and strengthen their relationships with not only their clients, but as well as the global community.

Resulting from the research and the developed materiality and maturity maps, trust and reputation and water scarcity were among the leading factors important to Momentive’s, and their competitors’, business plan. So proposing recommendations for these categories, it was imperative to understand actions Momentive has currently taken that they could improve upon. For example, the global research and development center in India would be a significant starting place to start a partnership with The Institute of Rural Research and Development (IRRAD). Partnered with IRRAD, Momentive would be able to increase their trust and reputation in this region, and globally through resource management, capacity building, governance, advocacy, rural research and water management.

However, the issue of water scarcity is an extremely complex issue when assessing its main attributes in regards to the Agrochemical Market Segment. With rapid population growths, increasing food demands, and global water shortages, it is imperative that companies such as Momentive take actions that not only benefit their stakeholders, but benefit the global community. This will ensure prosperity, trust and increased reputation for Momentive, by providing its consumers and partners an example to follow and respect.

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Summary of Component A:

In this beginning stage of the project, we provided an overview of the market segment. This includes tends, defining challenges, relevant stakeholders, and more. In order to improve sustainability internally, it is essential to understand the nature of the market.

There are several observable trends defining the agriculture industry. A growing world population in a world with finite resources drives all trends, in one form or another. These factors have put pressure on the food production system, including agrochemical suppliers. These trends can be expected to define the industry in coming years and should be considered when making long-term business decisions. Our observed trends are listed and explained in the figure below:

Figure 1

Growing demand for fertilizers

As the world population continues to grow and rising affluence in the developing world drives demand for a meat based diet, the overall demand for crops, feed stock, and fertilizers continues to increase

Increasing investment in new technology

The industry is becoming increasingly defined by new technology. GMO, for example, has drastically changed industrialized agriculture. These innovations are coming from the need for more efficient and effective food production to satisfy growing demands.

Pest and nutrient management systems

Methods such as selective application and tile drainage systems are becoming increasingly popular as producers aim to minimize chemical inputs, maximize production, and reduce nutrient run off. These are the 4Rs of nutrient management.

New and emerging markets

While the developed world remains fairly stagnant, demand for agriculture chemicals is increasing in the developing world. Asia, South America, and North Africa are all becoming relevant markets.

Increasing public and regulatory pressure

Public concerns about food safety and environmental impact are creating pressure on producers and consumers of agriculture chemicals. The EPA and other interest groups are pushing for stricter and more responsible management of fertilizers.

Defining Challenges

The trends listed above go hand in hand with several challenges facing the agriculture industry. These challenges will undoubtedly have an adverse effect on agriculture chemical suppliers.

The most relevant to chemical companies may be the effects on ecosystems as a result of agriculture. Agriculture is the most land intensive activity that humans partake in. This leaves vast amounts of space with very little biodiversity and minimizes the amount of natural habit available to wildlife. There is a pressure on chemical companies to increase the efficiency of land through innovation as well as minimize the negative impacts on local ecosystems. A key issue facing chemical companies is the over application of fertilizers which leads to algae blooms and large dead zones in waterways.

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Growing public concerns surrounding the quality and safety of food will certainly effect demand. People are watching agriculture chemical companies closer than ever before. The rapid increase in popularity of organic and non-GMO food reflects these increased concerns regarding chemicals such as pesticides. Companies must be extra cautious in producing safe chemicals to ensure they will not generate bad press and must become experts and managing consumer concerns.

Another defining challenge is that of land and water scarcity. According to the UN, 70% of the water in the water shed is diverted to agriculture. However, with an increasing population depending on this scare resource, chemical companies in in position to fill demand for products that reduce both the amount of water and land required to produce crops.

There are many other issues facing agriculture that might affect the chemical industry so directly. Immigration reform is a hot button issue related to the agriculture work force. Additionally, an aging workforce leaves big shoes to fill, shoes that may be more likely filled by efficient production methods than young farmers. The political climate will always surely affect the agriculture industry. Continued debate over the farm bill could lead to changes relevant to chemical companies in the form of subsidies, banned chemicals and practices, or changes in policy. New and changing international trade agreements could open, or close off, developing markets from US chemical producers. These are just some of the issues that may adversely affect agriculture chemical producers in coming years.

Stakeholders

Lastly, it is essential to acknowledge the various stakeholders shaping the industry. Chemical companies must pay attention to the demand of their primary customers, the food producers. Additionally, chemical companies should be placing an increased awareness on their secondary customers, the food consumers, to manage and reputation. Regulatory stakeholders include the EPA, FDA, the ECHA in Europe, and governments of the emerging markets in which companies trying to enter. The key trade groups promoting the chemical industry right now are the American Chemistry Council and International Council of Chemistry Associates. Additionally, there are many groups considered a part of the American Farm Lobby which promote American agriculture at large. Another significant group worth mentioning is the UN Food and Agriculture Organization which aims to achieve food security. The highly politicized agriculture industry has numerous institutions influencing the market segment.

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Component B

Assessing materiality and maturity requires trustworthy sources. The primary source for our information came directly from sustainability reports of the companies in the segment. Companies involved in the Global Reporting Initiative were giving greater credibility than companies that simply had sustainability pages. Though the presence of a sustainability page is a good sign of engagement, absence of reporting necessitates an increased focus on other reputable 3rd party sources. Our group divided up the companies to study and quantify individually. We then met up and discussed the relative grading of each company with each other and adjusted our scores. At that point, we were ready to analyze the materiality and maturity of our segment.

Maturity

Below is the finalized maturity map we generated.

Figure 2

Among all companies analyzed, there were some clear trends. Consistent low points include composting/organics and fleet efficiency. We believe there is minimal discussion and low importance placed on composting and organics, because the nature of organic food is that it does not allow for the use of many of the traditional agriculture chemicals sold by these

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companies. Additionally, we were hard pressed to come up with waste outputs from chemical production that could be successfully composed. Fleet emissions is a bit more surprising since transportation often adds a significant costs to low value to weight products such as nitrates, potash, and other high-volume agriculture products. However, since these companies often use a diversity of shippers, it may be hard for these companies to quantity and control fleet emissions making them less likely to emphasize fleet emissions.

High points for companies analyzed include strategy & analysis, governance, and customer focus. These three points make sense as the highest scoring categories, as they are essential business functions. A business strategy is essential from even the burgeoning stages of establishing a company and analysis of both the market and operations of the company is a valuable activity. As companies expand, a need for a structured and clear governance system is essential for reaching and implementing business decisions. Customer focus is also an unsurprising high point among companies, as customers are the life blood of commerce and their demand drives business decisions. In summation, Strategy & analysis, governance, and customer focus were the 3 highest-ranking topics in terms of maturity.

From the maturity map, we can see which companies excel in different areas. Over all, the maturity leaders are BASF, Chemtura, Dow AgroScience, and Bayer Crop Science. These companies displayed clear understanding of the issues related to sustainability and had a greater degree of conversation regarding the topics considered. Many of these leaders participate in the global reporting incentive and have comprehensive sustainability pages and programs. Whereas several of the middle ground companies had a degree of green washing, these companies place value on these different dimensions and invest in new programs and technologies to improve their operations.

Laggards for maturity include Helena, Agriliance, and Novogro South America. In a way, these companies could be called laggards by default. There was next to no conversation about related sustainability issues and no clear commitment to improving operations in regards to these dimensions. For example, Helena had no sustainability report, several EPA infractions, and an overall flippant attitude to things such as water pollution (as a producer of nitrate fertilizers with multiple infractions related to water pollution). Novogro S.A. was difficult to gather information on, as their website is in Spanish and no sustainability report could be found. This is a similar case to Agriliance, which had next to no information available. In this way, Novogro S.A. and Agriliance were laggards by default due to the absence of information.

Over all, there is a trend in the market: companies are moving to increased engagement and materiality. The largest, and often most engaged, companies appear to be thriving. However, particularly with domestic US firms, there is still a wide range of engagement. Larger companies such as Dow may be making great strides in the agrochemical industry, but other companies continue to remain unengaged on related sustainability issues. We believe this is in part to the size of the US agriculture market. As such a large market, these companies continue to have a healthy amount of business even though customers are largely putting an increased value on sustainability. There is still a large portion of customers that do not value sustainability enough to switch suppliers. In this way, companies that remain unengaged are slowly being pushed into a corner as the market gradually puts increased value on sustainable agriculture input

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chemicals. Another observation we made is that European chemical companies appeared to be more mature than North American companies. Though engagement existed in both groups, European companies remain in the middle to high range while North American Companies were across the board. Whether this is a product of culture, geography, regulation, or a multitude of factors, we are in no place to conclude. However, we believe that Momentive should borrow some ideas from these European leader companies to improve overall maturity. The current market is clearly moving towards sustainability and Momentive will benefit from following this trend.

Materiality

Figure 3

Consistent low points for all of the companies analyzed include 1) Resource and Commodity Scarcity 2) Renewable and Bio Based Materials and 3) Emerging and developing markets. Typically, resource and commodity scarcity did not go beyond minimizing water consumption. Renewable Bio-Based Materials were scarce among even the leanest of companies. The only company that had a particularly impressive program was BASF who just this last year introduced something called the Mass Balance Method, which essentially lets the consumer choose bio based materials over fossil fuel inputs for many chemicals. Emerging and

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Developing Markets was an odd category as there was a lot of disparity among companies. Some companies were purely domestic, resulting in low scores. However, the larger international firms have had great success in these rapidly growing markets. Over all, these were the average low scoring dimensions.

Some of the high points include Trust and Reputation as well as Sustainable Agriculture. Trust and reputation was somewhat surprising to us. The chemical industry frequently gets a lot of flak, and since people are very concerned about the safety of their food, we were expecting distrust. However, only a couple of the companies consistently came up with negative blogs and news articles while the others scored fairly well. Sustainable Agriculture was among the high scoring dimensions due to the nature of the products. Though a highly debatable topic, agrochemical products are being promoted in a way that is conducive to sustainability. For example, many of our nutrient suppliers are now reaching out with customer education to teach selective application-a perfect example of how a product can become sustainable simply by proper use. Additionally, many of these products increase crop efficiency and reduce land and water needed to produce the same amount of food otherwise. Overall, these companies ranked well in these two categories.

Materiality leaders and laggards were in line with what was seen in the maturity map. Dow, BASF, Bayer CropScience, and Chemtura lead while Helena, Novogro and Agriliance lag behind. Where does Momentive fit into all of this? Areas where Momentive excels include Security, Emerging Markets, and Renewable Bio-Based Materials. Areas where Momentive can improve include Climate Change and Sustainable Agriculture. There are many ways that Momentive can improve their performance in regards to these categories, such as development of new technology, participation in human-benefit programs, or simply funding the right project. For example, Bayer CropScience has sought to make cotton industry more sustainable by funding heavy research and developing an industry wide sustainability report, complete with concise outlines for how to improve production and processing, as well developed new varieties of cotton for a diversity of environments. There are many avenues that Momentive could take to improve performance in these areas.

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Component C: Strategic Analysis of the Agrochemical Market Segment

Institute of Rural Research and Development

In order to compete within the agricultural market segment, our group would like to suggest a strategy that will focus on advancing Momentive’s position in the trust and reputation category of the materiality matrix, as well as the emerging markets category. We would suggest that Momentive form a corporate partnership with the Institute of Rural Research and Development (IRRAD), which is an initiative of the S.M. Sehgal Foundation.

The S.M. Sehgal Foundation has been registered as a trust since 1999, and focuses on advancing the welfare of populations in rural India. IRRAD helps accomplish this goal by focusing on the communities’ natural resource management, rural governance, agricultural income enhancement, and rural research. IRRAD conducts research and testing in order to develop models focusing on these categories that can be easily replicated in various communities. The institute also helps to implement these models in rural Indian communities through training and community-oriented events. IRRAD sums up their goals with the statement “We believe that villagers must be skilled and empowered to secure basic needs and seize opportunities for continuous improvement of their wellbeing (“Institute of Rural Research”).”

If Momentive was to form a corporate partnership with IRRAD, they would not be the only ones. IRRAD collaborates with corporations, academic research partners, nonprofit institutions, government organizations, conservation partners, and multinational organizations. The institute’s corporate partners include other chemical companies such as Mosaic, KMG Foundation, and K + S Kali. Mosaic is a chemical company, which was included in our maturity map and materiality matrix. IRRAD describes their collaborations as “strategic partnerships to build strong synergies that can help make a greater impact in the lives of rural people (“Partners”).”

Trust & Reputation

Trust and reputation is shown on our materiality matrix to be an integral part of the way Momentive does business, and also a focus of its competitors. Investing in the growing and developing country of India will foster trust and reputation in the region. The work of The Institute of Rural Research and Development (IRRAD) in rural India is well established and already well recognized. IRRAD has received a wide array of awards for their various projects in India, including first prize in FICCI’s Water Awards, a spot on the Rockefeller Foundation’s list of top 100 innovations, a finalist position for the Excellence in Information Integrity award, and the Jal Star Award for saving and conserving groundwater (“Awards”). The strategy of investing in rural India through a partnership with IRRAD is supported by the importance of India to the growth of Momentive.

In November of 2012, Momentive opened a new global research and development center in Bangalore, India. The new facility also serves as the business headquarters for the region. In addition to the Bangalore facility, Momentive also has a manufacturing operation in Chennai. In

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a press release announcing the new Bangalore facility, John Danolph, Momentive’s President of the Silicones and Quartz Division, describes just how important India is to Momentive’s future. Mr. Danolph is quoted as saying “the IMEA region represents one of the fastest-growing regions for Momentive, and is projected to be a key growth area for the company in the future (“Momentive Announces Opening”).” Developing a strong trusted reputation in India by partnering with IRRAD within the country will serve to start Momentive out strongly in a quickly growing region. The IMEA region will continue to draw more companies within the market segment as it continues to develop. Cultivating a strong reputation in India can serve to put Momentive at an advantage above chemical companies that will enter the region later.

Focuses of IRRAD

The Institute of Rural Research and Development has a myriad of projects and research taking place in India, covering many topics such as natural resource management, capacity building, governance and advocacy, and rural research. As a corporate partner with IRRAD, Momentive would be well suited to assist with many of their areas of focus. When considering the agricultural segment of Momentive, IRRAD’s concentration on natural resource management provides a well-suited basis for a partnership between the two organizations.

One area that IRRAD focuses on within natural management is agriculture income enhancement. Agriculture is the financial pillar for many people in rural India, as well as their only reliable source of food security. India has a population of nearly 1.2 billion people, and about 70% of the total population resides in rural areas (“Natural Resource Management”). Even though most of the rural population is engaged in agriculture, many factors result in poor crop yields. Some of these hindering elements include poor soil health, lack of irrigation, and a need for better agricultural management. IRRAD identifies the need to develop practices in the area that include the responsible use of fertilizers, with a specific emphasis on rejuvenating soils. This is a specific focus because of the severe depletion of both macro and micronutrients within the soil. IRRAD’s program promotes integrated nutrient management by providing the rural populations with everything from soil testing, fertilizers, micronutrients, seeds, chemicals, and pesticides (“Natural Resource Management”). As many of Momentive’s agrochemicals are going into products such as fertilizers, herbicides, and insecticides, Momentive’s partnership with IRRAD would have the potential to further their efforts in developing rural India’s agricultural management practices. Mosaic, an agrochemical company which was included in our analysis of the market segment, has partnered with IRRAD in a part of rural India called the Mewat District. Mosaic and IRRAD have employed a model in this area called ‘Krishi Jyoti,’ which has been designed to offer solutions to the agricultural problems in the district (“A New Dimension to NGO - Corporate Partnership”).

A second major focus of IRRAD in rural India is water management. The primary focus of their water management program is helping to make villages water sustainable. IRRAD strives chiefly to help ensure villages in water scarce regions have access to potable water for irrigation and domestic use. Waterborne disease is an ongoing threat to the rural Indian populations. IRRAD also has focuses in agricultural water efficiency, which mainly focus on battling water scarcity. Sprinkler and drip irrigation techniques are used to minimize the water utilized in agriculture, and IRRAD is currently monitoring groundwater levels at 87 different locations

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across India. Techniques such as farm bunding and deep ploughing are taught to the locals to abate soil erosion, as well as to boost the moisture levels in the soil while rejuvenating groundwater supplies (“Natural Resource Management”). Water pollution and water scarcity are both shown on our materiality matrix as being important to Momentive and its competitors. This is another area of IRRAD’s work in rural India that Momentive could have the potential to assist in, all while learning first-hand about an emerging market with great importance to Momentive’s future as a global companies.

The Issue of Water Scarcity

When understanding the issue of water scarcity, it is imperative to understand not only the current problems, but the past actions of multiple industries that have created this current issue to grow. According to the US DOA in 2002, water withdrawals for irrigation in the Western United States totaled nearly 143 Million acre-feet per year out of the total available 153 Million in the entire United States. Due to the growing population, this excessive water demand is only expected to increase in order to keep up with the growing food demand. Therefore, products, such as fertilizers, pesticides, seed technology, etc. should be developed in order to address this issue. However, developing less water intensive crops does not necessarily mean developing entirely new products themselves, but includes adapting current technologies to better address the situation. Through our research, we identified four major problems associated with water scarcity; inefficient irrigation systems, crops that are not suited to their current growing environments, the fashion industry primarily dealing with cotton growth, and water intensive crops.

Inefficient irrigation systems are one of the leading problems when addressing water scarcity. Most agricultural practices involve surface irrigation systems which are the most practical, but also the least efficient. In surge flow systems, plants absorb about 75% of water output, while in conventional furrow systems, plants absorb as low as 60% of water output (MIT, 2012). However, there are more efficient systems that are available, that cost more than the average system, but are more efficient, therefore, more environmentally sustainable. Systems such as the Low Elevation Sprinkler Application (LESA) can help plants absorb as much as 88% of water output; the Mid Elevation Sprinkler Application (MESA) can help plants absorb nearly 78% of water output, while the Low Energy Precision Application (LEPA) can help plants absorb as much as 95% of water output (MIT, 2012). If these systems were introduced into today’s agricultural practices, the water demand for agriculture would significantly decrease, allowing this previous and growing water demand to be allotted elsewhere. In 1998, Steckler et al. concluded that increasing the effectiveness of water irrigation systems could meet over half the water demand in 2025; which would help meet the needed “14% water reallocation, called for by the United Nations, in order to meet and maintain agricultural production processes to support the population growth by 2030” (MIT, 2012).

Additionally, most crops are not suited to grow in the regions where they are currently being grown. Throughout the United States, and globally, crops are being grown in remote, barren and dry environments, where most field crops would not normally produce the desired yield. So, in order to combat this, governments have provided numerous subsidies to continue growing in these regions, to not only farmers, but to contractors to provide the necessary water

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demands. This is a significant factor, which is not helping the issue of water scarcity because it is increasing the problem where farming is not economical under normal environmental conditions. This in turn leads to water intensive field crops that are susceptible to drought and other extreme environmental changes. Because of this, many governments, including the US government, has offered extremely low water prices, which aids in wasteful usage of water. Examining the federally built Central Valley Project in California, we can see a specific example of this wasteful type of water usage. ‘This is a mass of infrastructure which supplies water for irrigation at prices between $7.14 and $56.73 per acre-foot. Since these prices are so low, by September 2005 agricultural users had only repaid 18% of the initial investment. Thus, they are receiving the water at an unrealistic price which does not promote conservativeness as much as it could (MIT, 2012).” If water prices were to be adjusted for the actual value and the actual damage water waste has on economic and environmental institutions, then water usage would likely see a turn toward recycling and conservation.

In addition to low water prices, the fashion industry and the demands for cotton and the practices used to grow cotton are extremely detrimental to the world’s freshwater resources. Because cotton is part of a multi-billion dollar, global industry that caters to luxury, those who are part of its value chain often seek the means necessary to maintain production. “Our use of cotton comes at huge and unnecessary cost: growing cotton unsustainably, with massive inputs of water and pesticides, has already been responsible for the destruction of large-scale ecosystems such as the Aral Sea in central Asia and the deteriorating health and livelihoods of people living there” (Thirsty Crops: WWF). With such a large impact on the global and local ecosystems, it is imperative to drive change within this agricultural issue. While cotton only accounts for 2.4% of the world’s arable land crops, it demands nearly 24% of global insect side use, 11% of global pesticides, which help produce 73% of the cotton that comes from irrigated land (Thirsty Crops: WWF).

Tying to water scarcity at its main factor, combined with inefficient irrigation systems, low water prices, and unfavorable environmental conditions, water intensive crops present an entirely different challenge to overcome. In Liters of water required per kilogram of crop, the top six water intensive crops require anywhere from 500 to 30,000 Liters to maintain production. Cotton requires 7,000-29,000 Liters, Rice needs 3,000-5,000 Liters, Sugar cane demands 1,500 – 3,000 Liters, Soya requires 2,000 Liters, Wheat requires 900 Liters, while Potatoes only need 500 Liters of water per kilogram of crop to maintain production. As the population continues to grow, the amount of water demanded for thee crops will additionally grow (Thirsty Crops: WWF).

Moving forward

Addressing these issues within agriculture is not going to be easy. With a large sector that affects every human on the planet, change will be harder to adapt in certain areas more than others. However, it is of our recommendation that Momentive take the following actions in order to advance its share, safety, security, trust and reputation within the agricultural sector.

Education and technology are both critical for change. But, technology is useless without education; therefore it is imperative to take a joint effort between education and technology.

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Through education of proper farming practices can help reduce the amount of water required for farming, which would require extensive educational programs which would be expanded in Momentive’s REACH program. Through the implementation of advanced sprinkler systems, Momentive can help its partners reduce the water demand and promote more practical farming measures.

Momentive can lobby for water withdrawal caps in certain areas throughout the areas with high levels of water intensive products. This type of system would allow for environmental and agricultural institutions negotiate and trade the amount of water withdrawn from certain watersheds and reservoirs in order to maintain our water supply. An example of this can be studied in Australia’s Murray-Darling where a water cap was placed on withdrawals and negotiated environmental flows for each tributary.

Another fundamental action would be to develop products that require less water to produce the same or slightly lower outputs. However, this could potentially lower crop outputs, which could increase prices, but, the environmental costs saved will offset these price changes. Additionally, this action could help reduce risk of crop failure due to drought. Not only could Momentive take its own measures to change this industry, but by partnering with existing institutions, such as IRRAD, but they could follow the best farming practices that the World Wildlife Fund or the United Nations has in place for every type of crop. Some of these that include upgrade irrigation systems, lower water application in non-critical growth periods, shallow soil cultivation and zero tillage (Thirsty Crops: WWF).

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