PwC names Skretting, Lerøy, Mowi and SalMar as Climate Leaders in 2023

Among Norway's 100 largest companies, nine are successfully reducing emissions as mandated, with four hailing from the aquaculture sector. The Climate Index, an annual overview of the climate impact of Norway's 100 largest companies, is compiled by audit firm PwC, drawing from the companies' annual and sustainability reports. The 2023 Climate Index, unveiled during Arendal Week, positions Skretting among Norway's top nine performers.

"The progress is too slow,” says Hanne Løvstad, Partner and Head of Sustainability and Climate Services at PwC during her presentation at Arendal Week. "While 22 out of 100 companies exhibit emission cuts in their operations and value chains, only nine of these align with the Paris Agreement.”

Løvstad's presentation spotlighted the aquaculture industry, wherein three major aquaculture producers showcase emissions reductions of at least seven percent. Løvstad pointed to Skretting as assisting the industry in achieving its climate objectives, given that feed significantly contributes to the salmon's carbon footprint.

"Notably, four of the nine climate champions featured in PwC's climate index hail from seafood companies. This achievement is particularly significant considering that all four are production companies,” says Mads Martinsen, Director of Sustainability and Product Development at Skretting Norway.

Substantial emission reductions

"This underscores our recent successes, and it's impressive to witness the aquaculture sector leading Norway's climate efforts," states Leif Kjetil Skjæveland, Sustainability Manager and Community Liaison at Skretting Norway.

PwC defines climate champions by their transparent, consistent climate reporting over the years. The top-ranked entities must also meet the Paris Agreement's baseline emission cut requirements, averaging at least seven percent annually over the past three years. Skretting Norway's climate footprint last year stood at 1.77 CO₂ equivalents per kilogram of fish feed produced, a remarkable 46 percent decrease from the 2018 baseline.

"The lion's share of the substantial greenhouse gas emissions cuts stems from our raw material procurement. Annually, we source 600,000 tonnes of feed raw materials from over 100 suppliers, and we have tightened our requirements and collaboration in recent years. Additionally, our customers play a pivotal role in this achievement, imposing rigorous demands on us and working collaboratively to realise meaningful reductions," affirms Skjæveland.

In-house factory improvements

While over 90 percent of the feed's carbon footprint originates from raw materials, Skretting Norway underscores its clear targets of achieving a 30 percent climate reduction across its three Norwegian factories.

"Over a decade, we've managed to cut energy consumption equivalent to an entire feed factory. The footprint of our factories in Stavanger, Averøya, and Stokmarknes is 19 percent lower than in 2018," highlights Skjæveland.

Science-based targets and enhanced sustainability

Håvard Walde, Managing Director of Skretting Norway, expresses pride and gratitude for the recognition, underscoring that this achievement is the result of a collective effort from the entire organisation. He emphasises the significance of having dedicated sustainability officers across most departments at Skretting. Additionally, he underscores the impact of Skretting's parent company, Nutreco, committing early to Science-Based Targets (SBTi).

"In receiving this affirmation of the effectiveness of our environmental initiatives, we are immensely gratified. Simultaneously, we feel a heightened responsibility to do even more, collaborating with customers and suppliers to drive forward. The recent heatwaves, forest fires, floods, and extreme weather events remind us of the urgent need for climate action. We are committed to ensuring that Norway's aquaculture industry continues to lead in the development of resource-efficient and sustainable food production," concludes Walde.