Value chain

I'm joined by two guests this time, and together we're going to talk about a new advance for Yara as the company and farming continue their journey towards a lower carbon future.

To discuss these developments, I welcome agronomist Mark Tucker, Yara's food chain business manager for Europe with a particular focus on sustainability, and with him Dale Turner, head of marketing, agronomy, and the value chain.

What we're talking about here, gents, is Yara's climate choice fertilizers, YCCFs, and a radical new development.

Dale Turner, perhaps you could explain.

Competitiveness And Scope 3.

Understanding the Value Chain In 2026, the energy debate is no longer just a national issue, but one of global competitiveness.

Major economies are demanding that their supply chains demonstrate a steady reduction in their carbon footprint, focusing on Scope 3 emissions.

It is crucial to understand this concept with technical precision.

Scope 3 emissions are not limited to direct suppliers.

According to the Greenhouse Gas Protocol , these emissions cover the entire value chain, both upstream and downstream .

A clear example is Coca-Cola.

Its Scope 3 emissions include not only those who sell its sugar, but also the thousands of small shops and businesses that refrigerate and sell its products.

So, I mean, for China, they've for a while now been pursuing a different strategy.

So we could see that they were focusing a lot more on internal consumption, moving up a value chain.

So they came in, you know, everyone said cheap Chinese products or Hong Kong, you know, all those terms came about.

But they've now become the technological leaders in battery technology, in mineral processing, in processing a whole range of things like secondhand batteries.

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The pharmaceutical industry is facing a historic crossroads.

Maintain heavy, highly regulated processes or accelerate toward a digital, agile, data-driven value chain.

this is not a technological whim but a competitiveness requirement spanning from drug discovery to commercialization and pharmacovigilance already generating tangible economic and operational impact much of today's interest centers on generative artificial intelligence According to studies by MC Kinsey and Company, GenAI applications could contribute up to $110 billion annually to the pharmaceutical sector.

But the leap is neither universal nor instantaneous as the industry faces the significant challenge of scaling the technology across its operations.

Customer experience, process automation platform, services, application and infrastructure modernization, transformation focus area, financial, operational, workforce transformation.

A country that buys robots without developing the workforce to operate and improve them could end up with highly automated factories, but little domestic capability to build or manage that technology.

That means India's real challenge isn't choosing between people and machines, it is making sure that its people move up the value chain quickly enough as machines take over the lower end.

Another economic question also lies beneath all of this.

If machines eventually allow companies to produce more goods with fewer workers, productivity could rise dramatically.

So while we lose some, we will gain some through redefined roles, but, um, the transformation is not, um, the same as elimination.

So some lower complexity work will inevitably be automated, and our opportunity is to move people up the value chain from repetitive transactions into problem-solving, sales, retention, technical support, and more c- complex customer experiences.

So the real risk isn't AI taking the jobs.

The real risk is actually failing to prepare our people for the jobs that AI will create.

Um, and of course, you know, these types of partnerships are quite relevant to showcase what's possible because, uh, Neste alone, uh, cannot conquer that, and also Finnair.

But I think this is really one of these examples where one on was, one on one basically is, is more than two, where we can showcase that these solutions are applicable throughout the value chain, that they are here and now and to be used as we speak, basically, and this is nothing what we need to wait for.

We just push it down the road.

Um, this is very necessary that the product is also being used and showcase that it works, right? This is where the, the benefit of that partnership kicks in.

[laughs]

Um, of course, we're doing our utmost to support that, but I mean, this is not the battle which Neste can win alone.

This needs the buy-in of multiple functions throughout the value chain.

So this means we need to have a very consistent safeguarding of the environmental attributes from us as a producer to our customers to the end customers.