Introduction

Grieg Seafood
Sustainability Report

WHY SUSTAINABILITY IS IMPORTANT TO GRIEG SEAFOOD

We have produced delicious salmon for consumers in all corners of the world for more than 25 years. Great progress has been made on sustainable salmon production, but numerous challenges remain. In particular, it is important for us to maintain the sea as healthy and productive, both today and for the future. With shareholders who are committed to sustainable and long-term value creation, our overall target goes beyond short-term operational profitability. We care about the footsteps we leave behind us. Our vision “Rooted in nature – farming the ocean for a better future”, describes how we intend to run our operations.

Sustainability in a broad perspective

Atlantic salmon will not be sufficient to meet the growing demand for food in the world. At the same time, only two percent of the global food production takes place in the ocean.We believe it is important to work structured and focused in order to achieve sustainable food production in the ocean. Going forward, the world must find sustainable aquaculture solutions to accomplish this. We are of the opinion that salmon breeders are important contributors to finding tomorrow’s solutions.Based on long traditions of aquaculture and a renewed focus on biological and technical innovation, Grieg Seafood aims to assume an active role in ensuring sustainable food production in the ocean. Our updated sustainability strategy defines five pillars we consider to be essential for sustainable food production in the ocean.

Grieg Seafood will produce salmon for a long time into the future. In our long-term perspective, clean seas, healthy fish and economic profit are no contradictions. Our task is to make sure these considerations go hand in hand.

”Sustainable value chain” emphasizes the need for safe and environmentally friendly food chains. Our mission is to produce safe quality food for our customers. Salmon producers then have to be in control of tracking the quality of the fish from egg to market. We keep continuous dialogue with our feed suppliers to ensure that the feed is based on raw materials of sustainable origin.

Another focus area is energy efficiency. In 2017, for the first time, we have compiled a greenhouse gas account mapping the greenhouse gas emissions from Grieg Seafood as an organisation.

Balancing ”profitable growth and innovation” with environmental sustainability is a key to our concept of sustainable food production. We are convinced that innovation and research in biology and technology turns out to be crucial for maintaining healthy seas as well as profitable aquaculture in the near future.Through our digitisation strategy GSF Precision Farming, we intend to take a leading role in utilising new technology and data to make better and more sustainable decisions. We believe in an information revolution that will transform our common understanding of the ocean and life below the surface. Grieg Seafood will take a leading position in the obtaining and preparation of new data, analyses and technology, contributing to a better understanding of biology and our marine production.

”Sustainable aquaculture and productive seas” is about the main challenges in our operations. Our goal is to produce healthy fish by the means of maximum fish welfare. As a consequence, fish health and welfare constitute a key priority in our aquaculture  production. At the same time, fish farming is based on our ability to safeguard shared natural resources. We are a food producer who uses the fjords that belong to all of us, and it is our responsibility to protect the biodiversity for future generations. Even though we have growth ambitions, we don´t  permit growth at the expense of the environment. Finding the balance between the various interests is essential for our success.

”Good jobs for everyone” emphasises the importance of our employees and how we conduct our business. We will be a workplace where our employees can flourish and evolve. Many of our employees live and work in small communities. ”Local value creation” reflects how we intend to contribute positively to these communities. We are working to ensure that our activities have good ripple effects in order to make our employees proud to work in Grieg Seafood.

In addition to our efforts for sustainable food production, our biggest shareholder maintains focus on sustainability in a broader perspective.Through Grieg Foundation’s 25 percent ownership of the Grieg Group, a share of the company’s profit is channeled into charitable projects across the world. In 2017 the Grieg Foundation contributed MNOK 32 to such projects. A significant part of this money comes from Grieg Seafood.

The five defined pillars for sustainable food production in the ocean will form the basis for Grieg Seafood’s efforts to specify sustainability in the future. This report addresses our efforts and our results in 2017. The exception is the pillar ”profitable growth and innovation”, which has been described in detail in the annual report itself. By the end of 2018, we will complete a comprehensive sustainability strategy further developing our scope of ambition, measures and KPIs associated with the five pillars, see figure on page 3.

The UN Sustainable Development Goals

In the fall of 2015, United Nations member states adopted 17 sustainable development goals (SDGs) by 2030. The sustainability goals consider environment, economy and social development in context. They apply to all countries and provide a roadmap for global endeavours for sustainable development.The goals have provided Grieg Seafood with renewed inspiration for a holistic sustainability approach, and the UN’s sustainability goals will be important elements in our future value creation.

Our production reach several of the 17 goals, but Grieg Seafood will focus on the goals where we believe to achieve the greatest impact. We intend to define specific and ambitious goals in which we will assume a particularly proactive role. Based on our vision for SDG 2, eradicating hunger, we choose to work on the sub-point “Ensuring sustainable food production systems by 2030...” as the direction for the main goal we are targeting – to find sustainable solutions for marine food production.

Our actions to achieve sustainable food production systems in the ocean will focus on SDG 14 (life below water), hence “Conserve and sustainably use the oceans, seas and marine resources for sustainable development”. We will keep the fjords healthy and productive, both for us and for others.

In Grieg Seafood we believe we cannot reach the goals for sustainable food production in the ocean alone, hence Goal 17: “Partnership for the goals” will be an important guide for our operations and our contribution to innovation, research and dialogue with communities.

Important terms

GLOBALG.A.P.

is a voluntary international standard for food production, both in agriculture and aquaculture. The standard comprises food safety, animal welfare, sustainability, employment and traceability.

ASC
HACCP
BAP

“Best Aquaculture Practices” is a voluntary standard for aquaculture that includes the key elements in responsible and sustainable aquaculture, by establishing standards for good practice in all productions stages of fish farming.

Fishtalk
Maritech

WE COOPERATE WITH THE INDUSTRY: GLOBAL SALMON INITIATIVE (GSI)

We are an active member of the Global Salmon Initiative (GSI.) GSI is established in 2013 and is a group of 17 companies which together hold over 50% of the global salmonid production. GSI member companies have committed to cooperation and transparency, in order to reach a shared goal of producing a sustainable and healthy product. A product that meets a growing population´s need for protein, whilst minimising negative environmental impacts, and positively contributing to a better society.

The GSI is established with three clear principles:

  • Improved sustainability
  • Cooperation
  • Transparency

In collaboration with the other GSI members, we have continued to develop the focus of the initiative. The CEOs of the member companies convene regularly, and the initiative has become a forum for sharing best practices and to address key challenges. To achieve comparability within the industry and to improve member companies´ reporting and approaches relating to transparency and communication, GSI has developed industry-specific performance indicators.

Grieg Seafood has held the responsibility as Co-Chair of GSI since 2015.