Exterior insulated block foundation

Ran across this type of foam insulation on the exterior of a block foundation, I am not familiar with this installation method.
Noticed where the insulation has separated from the foundation, should the foam have some kind of protection covering installed to protect the foam?
This just looks like a huge water entry issue and poor installation. Your thoughts are welcome.

Carpenter Ants love it. :grimacing:

Thanks to the DOE, in Minnesota and other frigid areas, if you’re not framing the exterior walls with 2x6’s for the depth of required insulation, you’re gonna need to install rigid insulation on the exterior. Same as with PWF’s, it gets covered over/protected with plywood or other material.

LOL all types of ants love it, easy to tunnel through and make insulated caves.

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There are types of Foam Insulation that can be used for that application either as insulation or as added protection of the water proofing from physical damage when back filling, but they do need to be of the High Density Extruded type. the low density Bead Board type as has been mentioned is a WDO’s second home, the first being your home. That looks like it may be an extruded type however when exposed to UV it breaks down.

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