Though farmed salmon has a low carbon footprint compared to other animal proteins, we have a responsibility to reduce emissions from our production and supply chain to reach the Paris Climate Agreement. Grieg Seafood has set emissions reductions targets in line with 1.5 degrees Paris agreement. We are applying for a target approval by the Science Based Target initiative by the end of 2024. The targets span both our own salmon farming operations (scope 1-2) and our supply chain (scope 3). The vast majority of our total emissions are linked to the feed, the biggest input factor in salmon farming operations, and freight. We have also decided to set a Forest, Land and Agriculture target in line with the SBT FLAG criterias.
Climate Action Plan
During 2022, we have developed a comprehensive climate action plan outlining the necessary measures and investments to achieve our climate targets. This plan emphasizes the importance of operational changes affecting Scope 1 & 2 emissions, as well as supply chain adjustments in Scope 3. Our goals include reducing operational fossil fuel consumption, transitioning to renewable electricity, and implementing supplier requirements to lower our absolute emission levels. We are also investing in site and boat electrification, promoting novel feed ingredients with lower emissions, and reducing transportation-related emissions.
In 2023, we continued to implement and monitor the projects outlined in the plan, making any necessary adjustments based on our progress. We have also enhanced our governance of emission reduction initiatives through internal ESG training, improved documentation, and increased regional involvement to ensure the effectiveness of our efforts. Given the reliance on innovation and development for our projects, we recognize the need for flexibility in our climate plan, particularly due to technical risks impacting cost estimates and emission reduction potential. Collaborating with suppliers and customers has allowed us to improve data quality and reporting, while increased stakeholder attention to carbon emissions has further supported our initiatives.
In our farming regions Rogaland and Finnmark, we have continued investing in sea site electrification to eliminate fossil fuel usage. Diesel-electric batteries have been acquired in all regions, significantly reducing fuel consumption and improving feeding operations at sea sites. In British Columbia, we have replaced barge feeding compressors with high efficient flowpressors, reducing our energy and fuel consumption drastically. In Rogaland, our focus on post-smolt practices has led to carbon reduction by minimizing the need for sea lice control treatments. We anticipate similar benefits in other regions as smolt sizes increase.
While Newfoundland's emissions notably increased in 2023 due to operational expansion following successful harvesting, our climate action plan anticipates continued emissions growth in this region in the coming years. However, we plan to offset these increases with enhanced reductions in other farming regions, as outlined in our strategy.
The UN Sustainable Development Goals guide us towards a more sustainable food system. They highlight opportunities to grasp and challenges to solve - both in our farming operations and in our value chain.
- Zero Hunger (2): The salmon farming industry is driving developments in global aquaculture. As a result, we are making a broader contribution to sustainable seafood production. Sustainable farming methods and practices, biological and technical innovation, research, new knowledge, and government regulations developed for the salmon farming industry can be transferred to the production of other marine species in other parts of the world. The solutions we find not only make our own operations more sustainable, but also advance the practices of fish farming industries in other countries. That way, we can truly contribute to zero hunger.
- Good health and well-being (3): Salmon is a source of marine omega-3 which has been proven to have health benefits.
- Quality education (4): We ensure that our employees receive the right training and development, so that the company always has the knowledge and expertise it needs.
- Gender equality (5): Gender equality and a diverse workforce, with people of different backgrounds, is not only our social responsibility, it is also key to profitable growth.
- Clean water and sanitation (6): Fresh water is a scarce resource in some countries, but not in the regions in which we operate. However, we have a responsibility to ensure efficient use of fresh water, and by using recirculating aquaculture systems (RAS) for most of our freshwater facilities, we reuse 90-97% of our water.
- Decent work and economic growth (8): We provide good jobs with fair conditions in rural areas. We contribute to economic growth in our local communities in Norway, the UK, and Canada.
- Industry, innovation and infrastructure (9): We take part in research and innovation to find new solutions to our challenges, and advance global food production in the ocean.
- Responsible consumption and production (12): We implement policies and processes to improve resource efficiency and reduce waste. We look for new solutions to boost the circular economy.
- Climate action (13): Farmed fish is one of the animal proteins with the lowest carbon footprint. Still, the salmon farming industry must work to cut the carbon footprint of our salmon even further.
- Life below water (14): We work to conserve and use oceans, seas, and marine resources sustainably. We have a responsibility to protect marine biodiversity, and we strive to find new ways to reduce our environmental footprint and improve the welfare of our fish.
- Life on land (15): We participate in projects to combat deforestation and protecting biodiversity in our supply chain.
- Peace, justice and strong institutions (16): We do business in a way that is inclusive, just, and accountable, and that promotes strong societies and institutions.
- Partnerships for the goals (17): We cannot reach the goals we have set alone. We collaborate with authorities, research institutions, other salmon farmers, NGOs, students, suppliers and others to advance sustainable aquaculture. We share knowledge, expertise, and technology. We seek to be honest, exchange ideas, and learn from those around us.
Grieg Seafood has committed to several initiatives that set high standards for our farming operations and value chain. Initiatives range from ocean stewardship to the climate, deforestation, and human rights.
