Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Labor & Human Rights
• Ethics
• Sustainable Procurements
• Community Action and Partners

Environmental Achievements

• Global Silver EcoVadis rating for sustainability (top 50th percentile)
• Monitoring Scope 1, 2, and 3 emissions for all facilities
• Aligning with key principals and customers to share best practices on reducing waste, limiting single-use products, and driving the adoption of bio and sustainable technologies
• Introduced a new sustainable product for ruminants that reduces methane emissions by up to 17%

Social Achievements

• Implemented globally consistent ESG policies for all employees and partners
• 50% rise of female employees in senior management positions (from 11% to 17%)
• Global ESG ambassador program
• Global whistleblower program

Governance Achievements

• Joined the Institute of Business Ethics
• Established Code of Conduct and Anti-Bribery and Anti-Corruption policies
• Robust evaluation process for potential and existing principal suppliers
• Implemented anti-bribery and corruption policies, and an employee & supplier code of conduct, and provide training to our employees

Climate Goals & Targets

Environmental Challenges

• Supply chain constraints
• Increased geopolitical tension
• Macroeconomic environment changes (inflation, recession, geopolitical disruption)
• Cybersecurity and IT continuity risks
• Health, safety, and environmental incidents
• Interest rate risk
• Working capital & liquidity risk
• Credit risk
• Climate change impacts
• Exchange rate fluctuations
• Non-compliance with laws and regulations
• Anti-corruption and bribery risks

Mitigation Strategies

• Diversification of regional, divisional, and product portfolio
• Strong partnerships based on knowledge and trust
• Granular planning cycle and prudent budgeting plans, including contingency plans
• Regional and local management for timely information and risk assessment
• Diligent candidate identification, cultural and organizational fit evaluation, due diligence, integration planning, and governance
• Periodic post-acquisition review
• Investment in IT infrastructure, global security function, and IT strategy
• Cybersecurity culture enhancement (training, awareness)
• Phasing out legacy systems
• Improved data management
• Global standard on IT General Controls, Cyber Security controls, and Information and Cybersecurity Policies
• Stringent talent acquisition strategy, safe work environment, global learning and employee performance evaluation system
• Talent review and development programs
• Behavior-based safety program and HSE policy
• Regular assessment of third-party logistics companies on HSE aspects
• Interest rate cap agreements
• Granular reporting and DIO, DPO, and DSO analysis
• NWC analysis and improvement plans
• Regional and country-specific credit policies, credit risk insurance
• Monthly review of open balances
• ESG strategy, carbon footprint reduction
• Scope 1 and 2 emission reduction targets
• Annual risk assessment for climate change resilience
• Code of Conduct and Integrity policies, global training programs
• Compliance program, periodic evaluation of local regulations
• Anti-bribery and corruption policies, training programs, helplines, and workshops

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• Evaluation of environmental, labor, human rights, and ethical practices

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather or natural events disrupting operations

Reporting Standards

Frameworks Used: GRI

Certifications: ISO9001, Good Distribution Practice (GDP)

Sustainable Products & Innovation

• New sustainable product for ruminants

Awards & Recognition

• Global Silver EcoVadis rating

Environmental Metrics

ESG Focus Areas

• Climate Change
• Circular Economy & Waste
• Pollution
• Biodiversity & Ecosystems
• Water & Marine Resources
• Sustainable Innovation & Products
• Sustainable Procurement
• Product Stewardship
• Workforce Health & Safety
• Talent Attraction, Retention & Development
• Diversity, Equity & Inclusion
• Labor Practices & Working Conditions
• Human Rights
• Community Action and Partners
• Business Conduct
• Data Privacy & Security
• Management of Legal & Regulatory Affairs

Environmental Achievements

• Reduced Scope 2 energy consumption by approximately 8 percent in 2023
• Completed 25% of supplier audits (including environmental assessment) in 2023 with plans to complete 75% in 2024
• Implemented measures to minimize energy consumption at facilities (LED lighting, motion sensors, timer controls, preventative maintenance, EV charging stations, solar panels, renewable energy credits)
• Recycled approximately 10% of non-hazardous waste

Social Achievements

• Implemented a global Learning Management System for policy and training distribution
• Established a Diversity and Inclusion Policy
• Conducted a double materiality assessment (DMA)
• Organized volunteer activities through the Barentz ESG Ambassador program
• Implemented a global wellness program

Governance Achievements

• Established a Global Sustainability Governance Council
• Implemented a robust Learning Management System
• Conducted a double materiality assessment (DMA) to prepare for CSRD and ESRS compliance
• Developed a Supplier Code of Conduct and Sustainable Procurement Policy
• Partnered with EcoVadis to assess ESG performance of primary partners

Climate Goals & Targets

Environmental Challenges

• Non-recyclable packaging for many products
• Supplier emission reduction
• Poor work-life balance
• Failure to meet customer demands
• Competition to attract talent
• Workforce resistance to change
• Poor data practices and security practices after rapid expansion
• Cybercrime exposure from digital transformation
• Child and forced labor in the supply chain

Mitigation Strategies

• Exploring ways to reduce and recycle product packaging
• Committing to audit 80% of suppliers by revenue by 2025
• Implementing actions to promote a healthy work-life balance (wellness committee, benefits)
• Expanding product portfolio with innovative products
• Investing in talent acquisition and development
• Implementing a Secure Barentz program for data protection
• Implementing a due diligence program to assess corruption risk of third parties
• Supplier Code of Conduct and Employee Code of Conduct

Supply Chain Management

Supplier Audits: 157 suppliers evaluated in 2023 for ESG performance

Responsible Procurement

• Supplier Code of Conduct
• Sustainable Procurement Policy
• On-site principal evaluations
• Principal audits and regular reviews
• Corrective and preventative actions

Climate-Related Risks & Opportunities

Physical Risks

• Physical assets and workforce disruption

Transition Risks

• Supplier emission reduction

Opportunities

• Energy management
• Innovative products

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, SASB, ESRS

Certifications: ISO 14001 (Maustepalvelu, Finland facility), ISO 9001, Responsible Care, Responsible Distribution, Safe Quality Foods (SQF), BRC

Third-party Assurance: PricewaterhouseCoopers Accountants B.V. (limited assurance)

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 5: Gender Equality
• Goal 8: Decent Work and Economic Growth
• Goal 9: Industry, Innovation, and Infrastructure
• Goal 13: Climate Action
• Goal 17: Partnerships for the Goals

Barentz aligns its values and interests with these SDGs through various initiatives

Sustainable Products & Innovation

• Seaweed in cattle feed
• Solvent-free floor finishes
• Ingredients for plant-based diets
• Shampoo bars

Awards & Recognition

• Not disclosed