Climate Change Data

Environmental Metrics

ESG Focus Areas

• Protect our oceans
• Improve our climate
• Empower our people
• Strengthen our communities
• Improve our health

Environmental Achievements

• Reduced GHG emissions by an unspecified amount (targets set for 2020)
• Achieved 93.4% 12-month survival rate in marine fish farming (target was 95%)
• Average of 0.15 adult female lice per fish (stable over recent years)
• Zero antibiotic use in fish production
• 91% of catches MSC certified (target 93% by 2022)
• Accidental release of 85 fish (down from 2018)
• 56% of non-organic waste recovered, recycled, or reused (target to increase by 10% annually)
• Reduced undesirable substances (dioxin and DL-PCBs) in salmon by 38% since 2011

Social Achievements

• Supported 879 different events for children and young people with healthy food
• Donated food items to various local initiatives
• Zero fatal incidents in the workplace
• Implemented a digital whistleblowing channel

Governance Achievements

• Board member assigned extended responsibility for environment and sustainability
• Zero confirmed incidents of corruption
• 209 supplier audits conducted

Climate Goals & Targets

Environmental Challenges

• Climate change impacts on fish production and catches
• Lack of sufficient technology for fossil-free propulsion of large vessels
• Food waste
• Plastic waste in the ocean
• Microplastics in the sea
• Challenges in farming cleaner fish
• Copper emissions from nets
• Maintaining a shared safety culture with employees from diverse linguistic and cultural backgrounds

Mitigation Strategies

• Switching from diesel to renewable energy on feed barges
• Investments in efficient value chain to reduce energy use
• Fleet renewal for more effective energy use
• Working with partners to reduce CO2e emissions in feed
• Project 50/50-5 to reduce non-recyclable plastic by 50% within 5 years
• Fishing for Litter program
• Participation in R&D projects on microplastics
• Improvement measures in onshore production facilities for cleaner fish welfare
• Using low-pressure underwater washers to minimize copper flaking
• Using antifouling agents without copper at some sites
• Implementing a structured and standardized approach to supplier management
• Good communication to ensure understanding of safety routines

Supply Chain Management

Supplier Audits: 209/year

Responsible Procurement

• Strict ethical and environmental requirements for suppliers, including adherence to UN guidelines for human rights, ASC feed standard, traceability, and sustainable harvesting practices. Requirements for soy from Brazil include verification of sustainable sourcing and no deforestation.

Climate-Related Risks & Opportunities

Physical Risks

• Changes in sea temperatures impacting fish production and catches

Transition Risks

• Potential future tax on CO2 emissions

Opportunities

• Increased focus on climate and environmental sustainability representing a significant opportunity

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: ASC, MSC, GlobalG.A.P.

Third-party Assurance: PwC

UN Sustainable Development Goals

• Not disclosed

The Group has adopted some of the UN Sustainable Development Goals, focusing on those most relevant to its processes.

Sustainable Products & Innovation

• Freshly packaged fish, fish-cut concept

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Sustainability
• Social Responsibility
• Governance

Environmental Achievements

• Reduced GHG emissions by 1.5% compared to 2022 levels.
• Achieved an A- (Leadership) score in the CDP Climate Change section in 2023.
• Committed to reducing absolute Scope 1, 2, and 3 GHG emissions by 46% by 2030 from a 2019 base year.

Social Achievements

• All employees given opportunity to complete online training course on environmental, social and economic sustainability factors.
• Various ESG-related KPIs, some audited annually.

Governance Achievements

• Climate-related risks and opportunities integrated into overall governance mechanisms.
• Board of Directors has ultimate responsibility for ESG strategic planning, risk and opportunity management.
• Designated Board member with extended responsibility for ESG issues.

Climate Goals & Targets

Environmental Challenges

• Grow-out seawater licenses for salmon and trout are limited and may become stricter.
• Proposal to decrease Norwegian cod fishing quota by approximately 20%.
• Uncertainty related to the EU Taxonomy and its impact.
• Carbon pricing and taxes on fossil fuels.
• Stricter requirements for ASC certifications.
• New legislation and requirements concerning the use and disposal of Styrofoam and plastics.
• Taxation or prohibition on the use of soy in fish feed.
• Norwegian aquaculture traffic-light system (TLS) and its impact on production capacity.
• Unsuccessful investments in new technologies.
• Technological developments in alternative protein production.
• Technological developments in land-based fish farming.
• Change in consumer needs and behavior.
• Increasing demand for climate-conscious food.
• Negative portrayal of aquaculture industry in media.
• Extreme weather events impacting production sites and fishing operations.
• Extreme weather affecting raw material production for fish feed.
• Sea temperatures affecting migration patterns of wild fish.
• Changes in sea levels or temperature impacting long-term livelihood.

Mitigation Strategies

• Close contact with relevant authorities and providing feedback.
• Optimizing operations to increase efficiency and reduce GHG emissions.
• Working on getting all relevant reporting in place for EU Taxonomy.
• Lowering emissions, prioritizing activities with highest GHG emissions.
• Participating in R&D activities exploring alternative fuels.
• Ensuring compliance with ASC certification requirements.
• Participating in projects focused on developing new types of sustainable packaging.
• Significantly reducing soy use over time and exploring alternative feed ingredients.
• Keeping average numbers of mature female sea lice as low as possible.
• Investing in shielding technology to control sea lice levels.
• Conducting thorough assessments before implementing new technologies.
• Engaging in projects developing new and high-quality forms of marine and plant-based protein products.
• Participating in land-based farming projects.
• Conducting market research projects and reputation assessments.
• Taking climate action and fulfilling certification requirements.
• Taking responsibility for negative environmental impacts and educating the public.
• Ensuring sea farms are sturdy enough to endure extreme weather.
• Having agreements with local actors for oil spill emergency equipment.
• Improving facilities to mitigate landslide risks.
• Developing procedures to address changes in water quality.
• Conducting risk assessments for all ingredients used in fish feed.

Supply Chain Management

Responsible Procurement

• Checking and assessing largest suppliers’ ESG strategy and performance.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Oil spills
• Landslides
• Changes in water quality
• Droughts and floods affecting raw material production
• Sea temperatures affecting fish migration
• Changes in sea levels or temperature

Transition Risks

• Fossil fuel regulations
• Market changes
• Stricter certification requirements
• EU Taxonomy

Opportunities

• Alternative transportation solutions
• Innovations in fish feed ingredient production
• More climate-friendly packaging
• Reaching climate-conscious consumers
• Shift in market preference to processed products
• Growing demand for sustainable seafood
• Investments in low-carbon solutions
• Collaboration with suppliers for sustainable feed and transportation

Reporting Standards

Frameworks Used: TCFD, CDP, GRI

Certifications: MSC, ASC

Third-party Assurance: PWC

Sustainable Products & Innovation

• Macroalgae, sugar kelp, blue mussels, and polychaetae production
• Insect meal in fish feed
• Plant-based alternative products (R&D phase)