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JBT MArel

ABOUT THE COMPANY

JBT Marel is a global food processing company that began as a project at the University of Iceland in 1978. The company was initially founded in 1983 when a group of engineers created motion-compensating scales for the fishing industry (1). Through this new innovative technology,  Marel quickly gained prominence and became a public limited company in 1991. In 1992, Marel listed on the Nasdaq Iceland (2). Following the listing,  Marel began acquiring companies to gain an international presence and to further develop its brand.


Today, JBT Marel owns and operates regional offices and processing facilities in thirty countries across six continents. As a global leader in its industry, JBT Marel serves an international customer base in over 140 countries with a team of 7,500 employees. With safety, sustainability, and affordability at the forefront of its business practices, JBT Marel consistently improves its existing technology and invests in research and development to stay at the top of the industry. One way JBT Marel does this is by investing 5-6% of annual revenue into innovation (3). 


On January 3, 2025, John Bean Technologies Corporation (JBT) announced the completion  of its voluntary takeover of Marel through the purchase of all issued and outstanding shares (4). Additionally, the company has noted that optimizing finances, improving operational efficiency, and increasing efficiency through digitization will be paramount when looking ahead (5).

company websiteNasdaq linkMorningstar factsheet

SUSTAINABILITY

For more than four decades, JBT Marel has pursued a simple but important mission: to transform the way food is processed. In 2023, our commitment remains unwavering. We play a vital role in supporting our customers as they harness precious resources to feed the world’s growing population. Moreover, we recognize our responsibility to lead the changes needed in the industries and markets we serve (6).


Recent achievements 

JBT Marel is proud to highlight numerous accomplishments in the realm of sustainability in 2023. These include developing our first pilot for green steel scales, starting our EU taxonomy reporting journey, concluding our second materiality assessment in alignment with the Corporate Sustainability Reporting Directive (CSRD), chairing Nordic CEOs for a Sustainable Future, and the introduction of paid parental leave for all primary caregivers. Additionally, JBT Marel is on track or well ahead of meeting all targets of our 2026 Sustainability Program and our Science Based Target initiatives (SBTi) carbon reductions. 


Commitments and opportunities looking ahead 

JBT Marel’s consistent dedication to sustainability and ESG has built a strong foundation to meet our stakeholders’ increasing expectations in 2024. We are seeing consumer demand for sustainable food processing grow as upcoming regulations add structure and transparency to ESG reporting and push large companies to make disclosures on the environmental and social impacts of their entire value chain. In 2024, Marel will continue to help customers understand and optimize their environmental and social impact and identify sustainability opportunities and risks.


Focus on three key UN Sustainable Development Goals 

JBT Marel became a signatory to the United Nations Global Compact (UNGC) in 2015 and has been an active participant ever since. We continue to drive decisions with a focus on the following UN Sustainable Development Goals (SDGs) to benefit people, the planet and our operations. 

  • End hunger, achieve food security and improved nutrition and promote sustainable agriculture.
    • By 2030, end hunger and ensure access by all people, in particular the poor and people in vulnerable situations including infants, to safe, nutritious and sufficient food all year round.
    • By 2030, ensure sustainable food production systems to implement resilient agriculture practices that increase productivity and production, that help maintain ecosystems, that strengthen capacity for adaptation to climate change, extreme weather, drought, flooding and other disasters, and that progressively improve land and soil quality.
  • Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.
    • Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries.
    • By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities.
  • Ensure sustainable consumption and production patterns.
    • By 2030, achieve sustainable management and efficient use of natural resources.
    • By 2030, halve per capita global food waste at the retail and consumer levels and reduce food losses along production and supply chains, including postharvest losses.
    • By 2030, substantially reduce waste generation through prevention, reduction, recycling and reuse.


Sustainability program: JBT Marel is committed to being net-zero by 2040. To drive and monitor our progress in the medium term, we launched a five-year sustainability program, running from 2022 until the end of 2026. It set ambitious ESG targets to guide JBT Marel and the food processing industry on a more sustainable path.


Environmental Targets:

  • Reduce carbon emissions1 by 20% by 2026 
  • Increase recycling of waste to 90% by 2026 
  • Powering >85% manufacturing facilities on renewable electricity by 2026


Marel’s 2023 Sustainability Report can be found here.

More information regarding  JBT Marel’s sustainability approach can be found here.

JBT’s 2023 ESG Report can be found here.

References

(1). https://marel.com/en/about-marel/our-legacy/

(2). https://www.weforum.org/organizations/marel/

(3).  https://view.news.eu.nasdaq.com/view?id=bd48234d87fa84527e7b5fb11c4d3016a&lang=en  

(4).  https://marel.com/en/news/jbt-announces-extension-of-voluntary-takeover-offer-to-the-shareholders-of-marel/  

(5).  https://marel.com/media/nomhwmqe/marel-annual-report-2023.pdf  

(6). https://marel.com/media/nomhwmqe/marel-annual-report-2023.pdf 

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