Mowi

ABOUT THE COMPANY

Founded in 1964, Mowi began as a local backyard fish farm outside of Bergen, Norway. In 1975, Mowi grew to become a recognized local brand. Later, Mowi underwent several mergers and acquisitions until Norse Hydro bought the company and changed its name to Marine Harvest. In 2006, The Marine Harvest Group officially was established through the merger of three independent companies: Pan Fish, Marine Harvest, and Fjord Seafood. In 2018, Marine Harvest changed its name back to Mowi. Finally, in 2022, Mowi acquired a majority stake in Arctic Fish to officially become a part of Iceland’s aquaculture industry. While Mowi has experienced tremendous growth since its inception, its values of passion, change, share, and trust have remained.

Today, Mowi is one of the largest seafood companies in the world. It is the world’s largest producer of Atlantic salmon with about 20% of the global market share. Offering its seafood products to over seventy countries, Mowi has a fully integrated value chain and divides its business into three categories: Feed, Farming, and Sales & Marketing. Additionally, from 2019-2023 Mowi has been ranked the most sustainable protein producer by the Coller FAIRR Protein Producer Index.

As Mowi looks to the future, it seeks to continue on a path of organic growth by increasing smolt stocking on unutilized licenses and increase productivity on utilized licenses. While Mowi has had higher farming volumes on average for the last five years as compared to its peers, Mowi has the highest costs. Therefore, the company seeks to cut costs and further develop its position as one of the world’s most sustainable protein producer. Furthermore, Mowi seeks to grow its Feed division, develop its value chain through digitalization and automation, and further develop its customer value.

SUSTAINABILITY

Sustainability at Mowi means increasing the world’s access to healthy and sustainable food from the ocean, while having a positive long-term economic and social impact. Mowi’s Leading the Blue Revolution Plan describes our sustainability strategy which entails Mowi’s commitments and actions that allow us to unlock the potential of the ocean as a food source for present and future generations. Our big goal is to produce more food from the ocean for a growing world population in a way that respects the ocean’s assimilative capacity, allows local communities to flourish while offering consumers products that are tasty, healthy and of the highest quality. In combination, this will ensure long-term profitability. Our Sustainability Strategy is centered around our guiding principles Planet and People and underpins commitments across our social and environmental performance through the value chain. Our commitments are set to make our business future-proof and are aligned with the UN Sustainable Development Goals.

Environmental Goals

Climate change BY 2030:

reduce absolute scope 1 and 2 emissions by 50.6%
reduce absolute scope 3 emissions by 27.5%
reduce absolute scope 3 FLAG (Forest, Land & Agriculture) GHG emissions by 33.3%

Plastics

By 2025, 100% of our plastic packaging will be reusable, recyclable or compostable
By 2025 at least 25% of plastic packaging will come from recycled plastic content
By 2025, 100% of farming plastic equipment is reused or recycled Mowi way

Excellence-driven organization

ONE Mowi, operational excellence program Ethical business conduct
Compliance with our code of conduct across the group Eco-efficient value chain Waste & circular economy
By 2025, zero waste to landfill at our processing plants Freshwater use
By 2025, achieve a reduction of 10% on water intensity at our processing plants located in medium-high water scarcity risk** **) Using ref year 2018 In harmony with nature

Sustainability certifications

100% of yearly harvest volumes are sustainably certified by a GSSI-recognized standard

Escapes

Zero escapes every year
100% trained on Mowi’s farming excellence program

Sea lice

0% of sites above national limit (monthly average)

Fish health & welfare

By 2025, 99.5% survival in sea (average month)*
Reduction in antimicrobial use relative to 2015
By 2025, 50 % of our stock in Norway with real-time welfare monitoring Sustainable feed
100% of feed raw materials are traceable
100% of marine raw materials are certified (Marine Trust, MSC or equivalent)
100% of soy is certified (Proterra or equivalent)
Towards lower FCR
Towards lower carbon footprint of feed raw materials

The Sustainable Development Goals (SDGs) have been agreed by all 193 United Nations (UN) member states in 2015 and guide governments, civil society and the private sector in a collaborative effort for change towards a sustainable development. The SDGs described below are those considered the most material for Mowi, i.e. those where we can have the greatest impact, but we also contribute to others.

SDG 3 Good Health and Wellbeing Farm-raised salmon is a rich source of omega-3 fatty acids, minerals and vitamins. Its benefits to human health are well-documented.
SDG 5 Gender Equality Our business depends on inclusivity and diversity among our employees. We focus on building a diverse work force throughout the value chain, as well as fair employment, and development and equal opportunities for all employees.
SDG 8 Decent Work and Economic Growth, SDG 10 Reduced Inequalities & SDG 11 Sustainable Cities and Communities Our operations contribute to the development of local communities providing safe and meaningful jobs.
SDG 9 Industry Innovation and Infrastructure We invest significantly in research, development and innovation to solve our challenges and create new growth opportunities.
SDG 12 Responsible Consumption and Production & SDG 13 Climate Change Salmon farming is one of the most efficient ways of using natural resources to produce a healthy protein: it has a low carbon footprint, high energy and protein retention efficiency and low water footprint.
SDG 14 Life Below Water Our business depends on a healthy ocean. We minimize our environmental impact by monitoring, applying best practices and following the strictest environmental standards available for aquaculture.
SDG 17 Key Partnerships for the Goals Achieving a sustainable future will require concerted action and new forms of partnership.