Aker BioMarine ASA

Climate Impact & Sustainability Data (2016, 2018-12 to 2020-12, 2021, 2022, 2024-04-01 to 2024-06-30)

Reporting Period: 2016

Environmental Metrics

Total Carbon Emissions:141,390 tCO₂e

Scope 1 Emissions:66,657 tCO₂e

Scope 2 Emissions:5,564 tCO₂e

Scope 3 Emissions:141,390 tCO₂e

Carbon Intensity:0.47 tCO2/t catched

ESG Focus Areas

Resource scarcity
Non-communicable diseases
Climate change
Loss of biodiversity

Environmental Achievements

Received an “A” rating from the Sustainable Fisheries Partnership for the second year in a row.
Mapped the company’s global energy consumption and greenhouse gas emissions.

Social Achievements

Launched Superba Boost, improving taste and smell of krill oil concentrate.
Superba received Novel Food Approval for extended use.
Acquired complete ownership of the Houston manufacturing plant.
Delivered one billion doses of Superba Krill to the market, potentially reducing society’s healthcare costs by more than USD 1 billion.
Three Aker BioMarine employees received Young Leadership Talents “Top-10” awards.

Governance Achievements

Updated Aker BioMarine AS’ corporate governance guidelines on 20 January 2015.
Aker BioMarine AS’ corporate governance principles comply with the Norwegian Public Limited Liability Companies Act and are based on the most recent Norwegian Code of Practice for Corporate Governance.

Climate Goals & Targets

Long-term Goals:

Improve planetary health

Medium-term Goals:

Significantly reduce CO₂ footprint and costs related to energy, waste and water use.

Short-term Goals:

Complete a comprehensive review of waste streams and water use.

Environmental Challenges

Weak omega-3 market with lack of market growth and tough competition resulting in decline in nutraceutical business.
Costly innovations with demanding timelines.
Slightly negative earnings after tax due to investments in supply chain, innovation, and new market development.

Mitigation Strategies

Invested in innovations and successfully launched new Superba products.
Strengthened scientific documentation of QRILL products and positive customer experiences lifted demand.
Transformed sales and marketing functions to build relevant content and stronger customer relationships.

Supply Chain Management

Responsible Procurement

Sustainable harvesting practices

Climate-Related Risks & Opportunities

Physical Risks

Rising temperature in the Antarctic impacting the ecosystem

Reporting Standards

Frameworks Used: UN Global Compact, International Integrated Reporting Council’s IR framework (IIRC), Global Reporting Initiative’s sustainability standard (GRI-G4)

Certifications: MSC

UN Sustainable Development Goals

SDG 2
SDG 3
SDG 12
SDG 14

Aker BioMarine uses the United Nations Sustainable Development Goals (SDGs) to guide its strategy.

Sustainable Products & Innovation

Superba Krill Oil
QRILL Aqua
QRILL Pet
Superba 2
Superba Boost

Awards & Recognition

Three Aker BioMarine employees received Young Leadership Talents “Top-10” awards.

Reporting Period: 2018-12 to 2020-12

Environmental Metrics

Total Carbon Emissions:Not disclosed

Scope 1 Emissions:Not disclosed

Scope 2 Emissions:Not disclosed

Scope 3 Emissions:Not disclosed

Renewable Energy Share:Not disclosed

Total Energy Consumption:Not disclosed

Water Consumption:Not disclosed

Waste Generated:Not disclosed

Carbon Intensity:Not disclosed

ESG Focus Areas

Sustainability

Environmental Achievements

Achieved the Marine Stewardship Council (MSC) certificate in 2010, re-certified in 2015. Antarctic krill fishery received an "A" rating from Sustainable Fisheries Partnership for six consecutive years.
Developed Eco-Harvesting™ technology to safeguard biodiversity.
Aiming for full circularity for plastic and biomass waste by 2021 (Aion acquisition).

Social Achievements

Not disclosed

Governance Achievements

Not disclosed

Climate Goals & Targets

Long-term Goals:

Not disclosed

Medium-term Goals:

Not disclosed

Short-term Goals:

Not disclosed

Environmental Challenges

Majority of sales derive from krill-derived products, heavily dependent on market acceptance and price development.
Risks related to crew health, safety, and retention.
Some degree of customer concentration.
Dependence on harvesting vessels and onboard krill meal production.
Exposure to increased fuel costs.
Exposure to adverse weather or oceanic conditions.
Krill supply vulnerability to environmental hazards and pollution.
Dependence on access to high-quality krill.
Dependence on licenses and quotas.
Compliance with evolving laws and regulations (e.g., EU Taxonomy).
Costs of complying with environmental, health, and safety laws.
Reliance on intellectual property rights.
Potential for intellectual property litigation.
High level of indebtedness.
Currency exchange rate risk.
Risk of increased interest rates.
Covenants and clauses in debt agreements limiting flexibility.
Significant cash required to service indebtedness.
Risk of impairment of intangible assets.
Fluctuations in tax obligations and effective tax rate.
Potential for product liability lawsuits.

Mitigation Strategies

Hedging programs to reduce fuel price risk.
Measures to manage crew health, safety, and retention (though specific actions aren't detailed).
Diversification efforts to reduce customer concentration.
Maintenance optimization projects to reduce downtime at the Houston factory.
Initiatives to reduce unplanned maintenance on vessels (using big data).
Aion acquisition to address plastic and biomass waste.
Product liability insurance (though limitations are acknowledged).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

Adverse weather, oceanic conditions, icebergs

Transition Risks

Regulatory changes, market shifts, decarbonization requirements

Opportunities

Development of energy-efficient products

Reporting Standards

Frameworks Used: Null

Certifications: MSC, Friends of the Sea

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

Goal 3
Goal 14
Goal 2
Goal 12

Improving human health, sustainable fisheries, sustainable aquaculture, responsible consumption and production.

Sustainable Products & Innovation

Lysoveta, INVI

Awards & Recognition

Norway’s most innovative company (2017)
Europe’s most innovative company (2018)

Reporting Period: 2021

Environmental Metrics

ESG Focus Areas

Climate Change
Ocean Health
Sustainable Food Production
Nutrition, Health & Wellbeing

Environmental Achievements

Reduced CO2 with Endurance
50% reduction of carbon intensity by 2030 from 2020 levels (target)
100% MSC certification

Social Achievements

Partnership with WWF
Eliminate bycatch
Industry collaboration
First ‘A’ rating from SFP
UNs SDG to guide strategy
5 billion health promoting doses annually of nutrients to combat lifestyle diseases (target)

Governance Achievements

Established Climate & Decarbonization Committee
Implementing best practice reporting standards, incl. TCFD, GRI and CDP
Independent third-party audit of carbon accounts

Climate Goals & Targets

Long-term Goals:

Goal to reach net zero emissions by 2050

Medium-term Goals:

Reduce the carbon intensity of krill produced by 50% by 2030 from 2020 levels

Environmental Challenges

Hard to abate industry
Reducing emissions in Antarctica

Mitigation Strategies

Industrialization of clean ammonia to reduce emissions in Antarctica
Partnership with Aker Clean Hydrogen
Actively working with suppliers to fast-track technology innovation and implementation

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, TCFD, CDP

Certifications: MSC

Third-party Assurance: Independent third party

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:113,087 tCO2e/year (2022)

Scope 1 Emissions:96,864 tCO2e/year (2022)

Scope 2 Emissions:3,953 tCO2e/year (2022)

Scope 3 Emissions:9,868 tCO2e/year (2022)

Water Consumption:33,80 ML/year (2022)

Carbon Intensity:2.17 tCO2/ton krill meal (2022)

ESG Focus Areas

Fishery management
Biodiversity
Emissions
Waste and circularity
Sustainable ingredients
HSSE
Talented and competent employees
Equality and non-discrimination
Corporate governance

Environmental Achievements

Increased harvest by 23%
97% of annual recyclable waste recycled (63% increase from last year)
Reduced CO2 intensity by 18%
Reduced emissions to water by 4.62 tons
59% of plastic waste recycled through AION

Social Achievements

67% of vacant leadership positions filled by women (75% internal promotions)
Reduced gender pay gap by 6% for permanent employees in Norway
Zero reportable incidents at Houston site
Total recordable accidents/incidents declined since 2021

Governance Achievements

A-rating from Sustainable Fisheries Partnership for the 7th consecutive year
MSC re-certified in 2020 for 5 years
Friends of the Sea (FoS) full recertification

Climate Goals & Targets

Long-term Goals:

Net-zero emissions by 2050

Medium-term Goals:

Reduce carbon intensity per ton krill produced by 50% from 2020 levels by 2030
Achieve 100% circularity on all principal waste streams by 2030
Combat lifestyle diseases by delivering 5 billion doses of health-promoting nutrients annually by 2030
Decarbonize aqua and animal feed by delivering low-carbon marine ingredients by 2030

Short-term Goals:

Continue CCAMLR support
Maintain voluntary measures with ARK
Increase oversight with drones
Reduce bycatch
Regulatory approval for Lysoveta in the US by end of 2023

Environmental Challenges

Increased competition from other fisheries and alternative omega-3 sources
Changes in regulations from CCAMLR, MPAs, or broader regulatory bodies
Major incidents in onshore facility or vessels
Global economic downturn
Climate change and extreme weather affecting krill biomass and operations
Political risk related to decarbonizing shipping

Mitigation Strategies

Increased awareness of krill benefits
Local sales and marketing resources
New research and science
Investment in Feedback Management system
Responsible fishing practices through ARK
Vessel safety audits and training
Increased product inventory
Cost reduction programs
Krill biomass surveys
Collaboration with CCAMLR
Investigating alternative raw material sources
Adaptive production set-ups
Investment in vessels and insurance
Active work on decarbonization
Monitoring alternative fuels and infrastructure

Supply Chain Management

Responsible Procurement

Supplier screening and tight procurement policies
Supplier self-assessment on Anti-Corruption, Human & Labor Rights, and Health & Safety

Climate-Related Risks & Opportunities

Physical Risks

Extreme weather affecting krill biomass and operations

Transition Risks

Regulatory changes related to decarbonizing shipping

Opportunities

Growing market demand for healthy and sustainable food
Access to green finance

Reporting Standards

Frameworks Used: GRI Standards, TCFD, GHG Protocol

Certifications: MSC, Friends of the Sea (FoS)

Third-party Assurance: PwC

UN Sustainable Development Goals

Good Health and Well-being
Zero Hunger
Responsible Consumption and Production
Life Below Water

Aker BioMarine's purpose is to improve human and planetary health, and this guides all employees and management when making decisions and setting priorities. Aker BioMarine adapted its strategy to UN’s Sustainable Development Goals (SDG) in 2015, and the company focuses on four of the SDGs:

Sustainable Products & Innovation

Lysoveta
Understory

Reporting Period: 2024-04-01 to 2024-06-30

Environmental Metrics

Carbon Intensity:CO2 per group revenue (Kg/USD)

ESG Focus Areas

CO2 emissions reduction
Sustainability

Environmental Achievements

Working on process optimization, more efficient offshore operations and energy efficiency measures to reduce CO2 intensity.
Antarctic Provider transport vessel is highly fuel efficient.
Heat recovery project installed on the Antarctic Sea in 2022 yielded significant fuel savings.

Social Achievements

Low sick leave rates onboard vessels, at the Houston factory, and in office locations.
Preparing for compliance with the Corporate Sustainability Reporting Directive (CSRD).

Governance Achievements

Company restructuring completed end of 2023, changing reporting format to improve transparency.
Board obtained fairness opinion from EY on the sale of Feed Ingredients business.

Climate Goals & Targets

Long-term Goals:

Carbon neutral by 2050 (including discontinued operations)

Medium-term Goals:

50% reduction of CO2-emissions intensity by 2030

Environmental Challenges

Fluctuations in annual krill harvesting, product quality, ability to develop new products, and market and price risk for sale of products.
Climate risk affecting krill biomass and operational environment offshore and onshore.
Lower margins on Human Ingredients products despite higher sales, and lower contribution from Consumer Health Products.

Mitigation Strategies

Adopted a risk management policy to identify, measure, and mitigate risks.
Debottlenecking initiatives for long-term capacity in Houston.
Post-sale of Feed Ingredients, company will review corporate costs to adjust cost base.