Cermaq commits to a 35% reduction in emissions

Cermaq's farmed salmon is a climate-conscious food choice, and we're implementing new strategies to enhance its sustainability. Our commitment, "Seafood for a healthy future," ensures lower greenhouse gas emissions, minimized environmental damage, and beneficial contributions to the communities we serve, says Cermaq's CEO, Geir Molvik. He emphasizes that sustainability has always been a priority for Cermaq and is vital for meeting societal and customer expectations. It's also a prerequisite for the future growth of the aquaculture industry. We bear a significant responsibility to promote a healthy ocean, he adds. Cermaq's climate objectives are grounded in the Science Based Target Initiative’s framework. These goals and actions are informed by the most recent climate science and what's necessary to stay within the Paris Agreement's goal of limiting global warming to below 2 degrees Celsius. These objectives are validated by certified third parties and only include actions with a genuine climate impact. As a result, Cermaq is one of only five global aquaculture companies that have set the most stringent climate goals for their operations. Cermaq aims to decrease absolute greenhouse gas emissions by 35% by 2030, using 2019 as the reference year. The pressure to address climate change drivers is mounting. We're responding with operational changes and setting goals and actions for our entire supply chain, from feed production to customer delivery. We're also factoring our growth plans into our climate objectives, making them even more challenging, says Molvik. Feed production and transportation to markets make up the bulk of the company's total climate footprint. Collaborating with suppliers and partners is essential to improve the climate footprint of feed and transportation options. This also demands innovation in our products and processes. That's why we're participating in international partnerships to enhance climate efforts in aquaculture on a global and local scale, says Molvik. Cermaq has planned significant changes in electrification, raw material access, and transportation. A straightforward but crucial step will be to decrease diesel usage at facilities and shift towards electric and hybrid solutions. Concurrently, energy efficiency actions will significantly contribute to our operations in Canada, Chile, and Norway, says Molvik. Cermaq's sustainability efforts include electrification of facilities and workboats, transitioning from fossil fuels to renewable energy sources/hybrid solutions, energy efficiency to reduce overall energy consumption, setting climate requirements for feed, improving feed efficiency through new technology development, internal RD projects to reduce emissions, streamlining production to use fewer resources, and optimizing transportation methods to markets. Cermaq's climate target is set according to the Science Based Target Initiative (SBTi). The goals are defined and calculated based on the latest climate science and are externally reviewed. These only include actual reductions- not compensation for emissions (offsets). Cermaq submits targets for certification that are now being reviewed before they appear on the SBTi website. Cermaq then commits to reporting on the development of emissions in relation to its planned emissions reduction trajectory towards 2030. Cermaq's global climate cooperation and commitments include several activities, where we work both to strengthen our own business and in industry partnerships. In these, we aim for improvement and actively seek dialogue across science, politics, and civil society for maximum effect. Through the Global Salmon Initiative, which represents 40% of all salmon producing companies globally, Cermaq is developing a GHG reporting framework for the aquaculture salmon sector together with the World Wildlife Fund. Our intention is to provide a consistent framework for reporting across the sector, as well as make it possible to compare seafood more accurately with land-based proteins. Cermaq leads the Seafood Work Track of the Ocean Action Platform in the UNITED Nations Global Compact, the world's largest corporate initiative, and is currently developing a seafood guide on how to set science-based goals to meet the Paris agreement goals. The guide is for seafood companies around the world to encourage more seafood companies to set climate targets. Cermaq is one of the founders of the Seafood Business for Ocean Stewardship (SeaBOS) science industry initiative which consists of 10 of the largest seafood companies globally. Cermaq works with members to share best practices to influence the seafood industry's impact and works to encourage more seafood companies to set science-based goals. Cermaq is co-chair of the Blue Road to COP26 working group in the UN Global Compact, bringing the fisheries and aquaculture sector, decision-makers, science and civil society together to identify how seafood can help achieve the Paris Agreement's goals. Cermaq has been in the working group of the United Nations Framework Convention on Climate Change (UNFCCC) high-level climate champions, and last month launched a vision for the ocean to deliver on a1.5°C rugged world in 2050. As an active member of the Advisory Network of the High Level Panel for a Sustainable Ocean Economy,