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SUSTAINABILITY LIBRARY 2023 About Lerøy
SUSTAINABILITY LIBRARY 2023

About Lerøy

Lerøy Seafood Group´s strategy is based on an eternal perspective and comprises specific and continuous sustainable improvement measures throughout the value chain.

The Group aim to be a little bit better every day and we are focused on making the right decisions each day to reach this goal.

Take action today, for a difference tomorrow

Value chain

We develop the world's most effective and sustainable value chain for seafood.
Lerøy value chain illustrated

Vision and values

Our focus areas

For Lerøy Seafood Group as a corporation, maintaining a constant focus on areas where we have the greatest influence in terms of sustainability is essential.

Based on a critical evaluation of the value chain and our processes, we have concluded that we currently have the greatest influence within our work on the different areas related to our fish-farming activities. A major share of our efforts related to the environment and sustainability will therefore focus on fish farming.

Vision for the Group

«We shall be the leading and most profitable global supplier of sustainable high-quality seafood.»

Quality and sustainability vision
Safe, sustainable, quality seafood

Quality and sustainability policy

We live by what is produced in the ocean and rely on sustainable management of resources. This enables us to produce and sell quality seafood in the future. Through close cooperation with professional bodies, customers and suppliers, we will deliver: a safe working environment, high professional competence, the right quality and sustainable solutions throughout the value chain.

Our values

The values of the company are to be creative, honest, open and responsible.

Mission

“Take action today for a difference tomorrow”

Out values

Value chain analysis sustainability

Download our value chain analysis regarding sustainability below.

Ownership

Governance structure and composition

The board of Lerøy Seafood Group has the overall responsibility for decision-making and overseeing the management of the organization’s impacts on the environment, economy and people.
Commitees of the highest governance body that are responsible for decisionmaking
Audit Committee

The Audit Committee follows up ESG-related matters and makes recommendations and proposals for changes and improvements The Audit Committee consists of Didrik Munch (Chair) Britt Kathrine Drivenes. The Audit Committee report to the Chair of the Board. The Audit Committee holds meetings four times a year. Both a representative from ESG & Quality department as well as an independent auditor is present at these meetings.

 

The Audit Committee conducts quality assurance of internal control and reporting. It is also responsible for the Board of Directors' dialogue with and monitoring of the external auditor. The auditor reports on their work in writing to the company administration and the Board via Audit Committee.

Nomination Committee

Pursuant to section 6-41 (1) Of the Norwegian Public Limited Liability Companies Act, companies listed on the Stock Exchange shall have a Nomination Committee which consists of three members elected by the annual general meeting for a period of two years. The company’s nomination committee prepares proposals for the composition of a shareholder-elected Board of Directors, and submits recommendations to the annual general meeting for appointments to the board. 

 

The company has not established specific guidelines for the Nomination Committee. However, the composition of the Nomination Committee ensures that the interests of the shareholders in general are taken into account and that the majority within the committee is independent of the Board and other executive personnel. The company’s Articles of Association specifies the framework for the work of the Committee.

 

The Nomination Committee makes a recommendation regarding remuneration to the members of the Board. The general meeting makes the final decision regarding fees to be paid to the members of the company's Board and Nomination Committee.

 

The Nomination Committee will facilitate contact with the shareholders, the Board members and the CEO when working on the recommendation of candidates. In addition, shareholders are permitted to recommend candidates to the Committee.

 

The recommendation of the Nomination Committee is included in the supporting documentation for the general meeting, which is published within the 21-day deadline for notice of the general meeting.

Proposals to the Nomination Committee

All shareholders can propose candidates for election to the company’s Doard of Directors. 

Composition of the highest governance body

Chair of the Board

Chair of the Board Arne Møgster (He/him) (1975) was elected to the board at the annual general meeting on 26 May 2009. He holds a Master of Science (MSc) in International Shipping and a Bachelor degree in Business and Administration.

Arne Møgster is the CEO of Austevoll Seafoood AS, and a board member for a number of companies in the Austevoll Seafood Group. Prior to joining Austevoll Seafood ASA in 2006 - Arne Møgster earned himself versatile experience working within fishing, shipbuilding and the offshore supply market. He was the Managing Director of Norskan AS for 3 years, with one year based in Brazil.

Through his position as CEO and board member in listed companies for more than a decade Arne has extensive knowledge of a broad range of subjects including wide experience in working with ESG.

Austevoll Seafood is the majority owner in Lerøy Seafood Group, and the majority owner in Austevoll Seafood is Laco AS. Arne Møgster is a shareholder in Laco AS, and indirectly holds shares in Lerøy Seafood Group ASA. There are some transactions between companies in the Austevoll Seafood Group and Lerøy. Such transactions take place according to the arm’s length principle and are described in the company’s annual report.

Arne Møgster
Chair of the Board Arne Møgster
Board members

Board memeber - Siri Lill Mannes (She/her) (1970) was elected to the board at the annual general meeting on 23 May 2018. Siri Lill holds a Master degree in history, and has also studied Russian and political science. She also completed the Armed Forces’ course in Russian (officer's training school) and studied political science in Georgia, USA, on a one-year Rotary Club scholarship.

In 2017, she completed the Senior Executive Coure at the Norwegian Defence University College (Sjefskurset, Forsvarets Høyskole). Having worked as a TV host and entrepreneur, Siri Lill Mannes has an extensive background in journalism. She started working for TV2 in 1992, when the channel was founded. Since 2010, she has been director of the communications company SpeakLab AS, where she is also a partner and founder.

Through her positions and experience Siri has extensive knowledge within among others international politics and communication. Siri Lill regularly moderates conferences on security, digitalisation and cybersecurity. Since 2015, she has been moderator for the National Security Conference by the Norwegian National Security Authority (NSM).

Siri Lill Mannes is an independent director in the board. She owned no shares in the company as of 31 December 2023.

Board member Didrik Munch (He/him) (1956) was elected to the Board at the annual general meeting on 23 May 2012. He has a law degree from the University of Bergen. Didrik Munch qualified as a police officer at the Norwegian Police University College in Oslo and held a number of positions within the Norwegian police force (1977–1986).

From 1986 to 1997, he worked in finance, primarily in the DnB system, where he ultimately joined corporate management as Director for the DnB Corporate Customer division. From 1997 to 2008, Didrik Munch was CEO of Bergens Tidende AS. He was CEO of Schibsted Norge AS (formerly Media Norge AS) from 2008 to 2018 and is currently self-employed. Didrik Munch has served on several boards in a number of companies, both as chairperson and ordinary member.

He is currently Chairman of the Board for Storebrand ASA, Solstrand Fjordhotell Holding AS, and NWT Media AS and a board member for Grieg Maritime Group AS, SH Holding AS and Jonstadveien 6 AS. Didrik Munch is currently chair of the audit committee in Lerøy Seafood Group ASA. He has far-reaching knowledge also within ESG, through his extensive experience from both the management and board of some of Norway’s largest companies. Didrik Munch is an independent director in the board. He owned no shares in the company as of 31 December 2023.

Board member Britt Kathrine Drivenes (She/her) (1963) was elected to the board at the annual general meeting on 20 May 2008. She holds a Bachelor of Business Administration from the Norwegian School of Management (BI) and a Master of Business Administration in Strategic Management from the Norwegian School of Economics (NHH).

She is CFO of Austevoll Seafood ASA and also a board member in a number of companies in the Austevoll Seafood Group. She has also been part of the Board in FHF – Norwegian Seafood Research Fund since 2019. FHF’s goal is to create added value to the Seafood industry through industry-based research and development.

Britt Kathrine Drivenes has extensive experience from the fish industry as well as financing, accounting and ESG. She is the Board member who is responsible for overseeing ESG related issues. Britt Kathrine Drivenes owns shares indirectly in Lerøy Seafood Group ASA, as a shareholder in Austevoll Seafood ASA.

Board member Karoline Møgster (She/her) (1980) was elected to the board at the annual general meeting on 23 May 2017. Karoline Møgster has a law degree from the University of Bergen (Candidata juris). She also has a Master of Science in Accounting and Auditing (MRR) from the Norwegian School of Economics. She worked as a lawyer with Advokatfirmaet Thommessen AS and is now employed as a lawyer for the Møgster Group. Karoline has extensive experience within Corporate Governance and corporate law as well as accounting and financing.

She is a board member for Laco AS, and Fiskebåt South. Karoline has board experience from other listed companies. Fiskebåt is an interest and employer organisation for the Norwegian ocean-going fishing fleet, and represent the majority of ocean-going fishing vessels.

Laco is the ultimate parent company of Lerøy Seafood Group. There are some transactions between companies in the Austevoll Seafood Group and Lerøy. Such transactions take place according to the arm’s length principle and are described in the company’s annual report. Karoline Møgster indirectly owns shares in Lerøy Seafood Group ASA as a shareholder of Laco AS.

Board member Hans Petter Vestre (He/him) (1966) was elected employees’ representative to the board at the annual general meeting on 24 April 1995. Hans Petter Vestre is a graduate of the Norwegian College of Fishery, University of Tromsø. He started as a sales manager at Hallvard Lerøy AS in 1992, he is today a team manager at Lerøy Seafood AS.

Hans Petter Vestre has owns 1,200 shares in the company as of 31 December 2023. Hans Petter has received training within both ESG and IT security as an employee in Lerøy.

Board member Are Dragesund (He/him) (1975) is an investment professional and Co-head of Ferd Capital at Ferd AS, one of Norway’s largest family owned investment companies. Prior to joining Ferd in 2015, Are worked at The Norwegian Ministry of Finance, Cardo Partners and The Boston Consulting Group. He is a Norwegian national and graduated from the Norwegian School of Economics (NHH) in 2000. From his career as management consultant and investment professional, Are has extensive experience from the consumer goods and maritime industries. His core competencies are within strategy, finance, M&A and capital markets. As a former board member of IT security specialist firm Mnemonic AS, Are has a good command of IT security. In addition to Lerøy Seafood Group ASA, Are is currently a board member of Nilfisk A/S, Mestergruppen AS, Brav AS and. He has previously served on the board of Norkart AS. Are Dragesund is an independent director in the board. He owned no shares in the company as of 31 December 2023.

None of the board members represent an underrepresented social group (GRI definition: under-represented social group group of individuals who are less represented within a subset (e.g., a body or committee, employees of an organization) relative to their numbers in the general population, and who therefore have less opportunity to express their economic, social, or political needs and views).

Collective knowledge of the highest governance body

Board members are continuously acquiring new ESG-related knowledge in order to stay up-to-date with new and existing requirements, latest trends and best practices in the ESG-field. Continuous learning is essential to be able to identify new challenges and opportunities. All of the Board members are participating in various trainings, workshops, conferences and networking arrangements.

Role of the highest governance body in overseeing the management of impacts

Both the Board and Management Team are involved in developing, approving and updating the organization's strategy, policies ang goals related to sustainable development.

The Board has delegated carrying out the day-to-day process of identifying and assessing actual and potential impacts on the economy, environment and people as well as determination of material topics for reporting to ESG & Quality department.

ESG & Quality department created and overview of the Group’s stakeholders and identified a list of actual and potential sustainability impacts. The list was distributed to relevant stakeholders and thay were asked to assess the significance of the impacts. The most significant impacts for reporting were prioritized to determine which topics are material.

The Board and the Management Team are reviewing both the effectiveness and the outcome of the process annually.

From 2024 Lerøy has to report according to The Corporate Sustainability Reporting Directive (CSRD) which requires companies to report on the impact of corporate activities on the environment and society.

Double materiality assessment is a central part of CSRD (ESRS – European Sustainability Reporting Standards). The ESRS breaks double materiality into two categories: Impact materiality (the “inside-out” perspective) and Financial materiality (the “outside- in” perspective).

Lerøy is currently preparing its double materiality assessment.

For more detailed information on stakeholder engagement, please, visit the chapter on Stakeholders.

 

Delegation of responsibility for managing impacts

Each member of the Management team is responsible for an area/an operational segment. This includes responsibility for overseeing the organization’s impacts on the economy, environment, and people. All companies in the Group have defined sustainability (ESG) related KPI’s and these are managed on local level.

Day-to-day follow-up of sustainability related KPI's is performed locally. Monthly/ quarterly/ annual review of reported information is carried out by ESG & Quality department. Organization’s impacts on the economy, environment, and people are reviewed by the Management Team monthly. The Board is reviewing impacts related to economy, environment, and people at every meeting. The Audit Committee is reviewing impacts on the economy, environment, and people in detail four times a year.

Role of the highest governance body in sustainability reporting

Both the Board and the Management Team review and approve both the list of material topics as well as reported information. The material topics and reported information (on high-level) is presented to and approved by the Board. The information is presented and distributed to the Board by the Head of ESG & Quality. The presented information is being reviewed by the Board prior to it being approved. Corrections and amendments are made if necessary.

Conflict of interest

The company has developed a Board of Director's Guidance and Working procedure. The document is prepared in cooperation with both the Board and the Chair of the Board. The procedure contains, among other issues, guidance on how the Board and the Management team shall handle agreements with related parties.

The company has established a procedure to ensure that both the Board and the Management Team must notify the Board of Directors if Lerøy enters an agreement where a member of the Board or the Management Team might have any significant interest in. In cases where a company which has connections to a Board member performs work for the Board, the independence issue is assessed by the Board. If necessary, appropriate action is taken accordingly.

Should transactions with related parties occur, these shall be documented and executed according to the Arm’s Length Principle. An independent assessment shall be carried out for significant contracts. Exemptions may be made for agreements that represent part of the company’s regular operations, and are based on regular commercial conditions and principles.

Agreements with related parties shall be reviewed to ensure sufficient clarity regarding proper balance of the agreements. This is to make sure that the company is aware of potential conflicts of interest and performs due diligence checks prior to entering a contract. The purpose of this process is to prevent assets being transferred from the company to related parties.

Information on related parties is available in the Group’s Annual report – Financial  information – Note XXX- Related Parties.

(Potential) conflicts of interest are not disclosed to stakeholders.

Evaluation of the performance of the highest governance body

When recruiting board members, the company’s owners follow a longstanding strategy of assessing the company’s need for varied competency (including ESG-related competency), continuity, renewal and changes in ownership structure. It will always be in the company’s interest to ensure that the composition of the Board varies in line with the demands and expectations made on the Group.

The Board is performing self-evaluation at least annually. The Board’s evaluation of its own performance and of Group management must of course be seen in conjunction with the Group’s performance. To date, the Board has not issued reports on its evaluation of its own work; this is a conscious priority decision and must be viewed in connection with other announcements in the company’s communications to the public. Moreover, external evaluations of the Board’s work are probably the most influential and are likely to remain so in the future.

If relevant and necessary actions might be taken in response to these evaluations. The actions can include changes to the composition of the highest governance body and organizational practices.

Remuneration policies

Recommendations for remuneration of the members of the Board are developed by the company’s Nomination Committee and adopted by the annual general meeting  in accordance with section 6-10 of the Public limited Liability Companies Act.

Remuneration of the Board of Directors is not based on results. The Board members elected by the shareholders have no share options. If enterprises which board members are associated with perform work for the company’s Board, the question of independence is treated specifically by the Board.

Remuneration of the Chairperson of the Board and other board members is recommended by the Nomination Committee and adopted by the General meeting.

The annual General meeting on 2nd May 2023 adopted annual remuneration of the Board of Directors as follows:

Chairperson of the Board -  NOK 500,000 

Other Board members - NOK 300,000

(92,94 % of stakeholders voted for; 7,06% of stakeholders voted against);

The Audit Committee’s remuneration for additional work performed is NOK 120 000 for the Chairperson of the Committee and NOK 80 000 per year for other members of the Committee.

(100 % of stakeholders voted for; 0 % of stakeholders voted against);

The annual remuneration for the Nomination Committee is NOK 45 000 per member.

(100 % of stakeholders voted for; 0 % of stakeholders voted against);

The company does not involve remuneration consultants in determining remuneration.

Salary and other remuneration of persons in senior positions

A renumeration report for executives is published annually, highlighting the actual remuneration, remuneration principles and framework. The guidelines regarding salary and other remuneration shall be clear and understandable and contribute to the company’s business strategy, long-term interests, and financial capacity. The schemes for salary and other remuneration shall help to align the interests of shareholders and executive personnel, and they shall be simple.

The annual general meeting shall, at minimum every four years, review and approve the Board’s guidelines for stipulating salary and other remuneration of persons in senior positions according to the provisions in section 6-16 a of the Public Limited Liability Companies Act and related regulations. Furthermore, the annual General meeting shall hold an advisory vote each year on the board’s statement regarding paid and current remuneration covered by the guidelines prepared according to section 6-16 a of the Public Limited Liability Companies Act, cf. section 6-16 b of the Public Limited Liability Companies Act.

Regarding remuneration of executive personnel – the Company mainly uses fixed pay as a compensation option. Variable pay is used to a limited degree. Executive salary shall be competitive, so that the company is able to attract and retain the most skilled executive-level employees. The fixed remuneration of executive personnel shall include: Base salary – it is established on the basis of the responsibilities, complexity, competencies and length of service for the position.

Base salary is normally the main element of executive personnel salaries. Bonus schemes – in principle, bonuses are a form of profit sharing where members of management are remunerated for their contribution to the company’s long term earnings and development.

The purpose of Lerøy’s bonus scheme is to stimulate continuous development of Lerøy’s value creation, growth and results, as defined in the company’s strategy. Bonus payments are assessed and stipulated every year based on a comprehensive evaluation of five components: the executive’s value creation, efforts, results, values, attitudes and conduct – all in relation to defined goals, tasks and available resources, this also includes performance related to organizations impacts on the economy, environment and people.

At the end of the assessment period, a decision regarding the extent to which the criteria for a bonus payment have been met. The assessment is performed according to the criteria described above. Bonus payments to persons in senior positions may compromise up to one year’s salary. The company does not have a scheme for repaying of variable remuneration. The Board reserves the right to make amendments or terminate the bonus scheme on yearly basis.

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Variable remuneration, pension schemes and severance pay

The company does not have any scheme for reclaiming variable remuneration. The Board of Directors has the right to make changes to or terminate the bonus scheme on a yearly basis.

Pension schemes

Lerøy Seafood Group ASA has a defined contribution pension scheme according to the Act relating to mandatory occupational pensions. The base for premium payments is capped at maximum 12G (G is the national insurance base amount) per year.

 

Senior executives in the Group are members of the company’s collective pension scheme up to the Group’s in-house retirement age, which is 70, and do not have separate agreements that include early retirement or supplementary pensions. The company may, however, enter into such agreements in the future.

Severance pay

In principle, the company does not make use of severance pay apart from salary during the period of notice for the number of months stipulated in the provisions of the Working Environment Act. Severance pay may, however, be a good alternative in some situations for all parties involved. Severance pay can therefore be utilized in extraordinary circumstances, albeit capped at two annual salaries.

Group management

The Board works purposefully with the company management to make the Group the most sustainable and profitable, fully integrated global seafood company.

The Board of Lerøy Seafood Group ASA emphasizes the importance of having good corporate governance, which clearly establishes the division of roles between shareholders, the Board and the Group's management. The Board has its own dedicated board member who has special responsibility for the environment and sustainability (ESG related matters).

The goal of Lerøy Seafood Group ASA is that all parts of the Group's value chain will operate and create growth and development. This is in accordance with the Group's strategy for long-term and sustainable value creation for shareholders, customers, suppliers and society as a whole.

The Board of Lerøy Seafood Group ASA has the overall responsibility for sustainability work within the Group.

In the Group, the CEO has main responsibility for this area. Matters related to sustainability are approved by the Group management before they are sent to the audit committee / board. The Head of ESG & Quality is responsible for coordinating work involving the environment/  sustainability for all the companies within the Group. Responsibility is delegated to the Managing Director of each subsidiary.

Management

Managers and other employees, at the various levels in the organization, have different goals related to sustainability included in their job descriptions. The company also works with goal management where goals related to sustainability are included. Goals related to job descriptions and goal achievement are included in the basis for the payment of bonuses.

Entities included in the organization's sustainability reporting

The company has audited consolidated financial statements on public record. For information regarding the list of entities included in financial reporting, please, visit Lerøy Annual Report 2023.

All reporting entities report relevant ESG data in the reporting system Cemasys which consolidates the information on a Group level. There are no adjustments to information for minority interests as it is not relevant in the given context. If mergers and/or acquisitions occur it is taken account into reporting and the reporting is accordingly adjusted to ensure completeness. The approach does not differ across disclosures in this Standard and/ or across material topics.

An overview over entities included in the organizations's sustainability reporting can be found below. A change compared to previous reporting period is that a new reporting entity (Lerøy Ausevoll) is added to ESG reporting. Lerøy Austevoll is an acquisition acquired in 2023.

Stakeholders

A stakeholder is a group, organisation, member or system who affects or can be affected by an organisation's actions.

Approach to Stakeholder Engagement

A stakeholder is a group, organisation, member or system who affects or can be affected by an organization's actions (GRI definition).

Lerøy's values are open, honest, responsible and creative, and it is crucial for us to have a continuous and open dialogue with all our stakeholders.

Stakeholder engagement is an important building block for success towards the Group’s goal to becoming the most and effective supplier of sustainable seafood. Engagement with stakeholders helps us identify and manage our positive and negative impacts on the environment, social and governance related issues.

The purpose of stakeholder engagement is to ensure that Lerøy amplifies the positive impacts, mitigates the negative impacts, shares knowledge, best practices as well as ensures meaningful engagement with the stakeholders.

Open and honest communication with our stakeholders is essential for best possible cooperation. Stakeholder identification is a part of Lerøy’s materiality assessment process where relevant stakeholders are identified.

Lerøy Seafood Group communicates with its stakeholders via meetings, various reports (such as the annual report, the stock exchange reports, CDP reports etc.), communication in the media, announcements, joint projects, partnerships, websites and social media.

In 2023, the aquaculture industry in Norway including Lerøy, has received attention regarding food safety and animal welfare. With an integrated value chain for salmon production, Lerøy has the best prerequisites to provide safe and healthy products for our consumers. Lerøy shares an interest with the Norwegian authorities in maintaining food safety and animal welfare in all our operations and therefore seeks an open and constructive dialogue with the Norwegian authorities, including the Norwegian Food Safety Authority.  

 

Our overview of stakeholders

Find the overview of stakeholder dialogue below.

Stakeholders
Stakeholders

Material topics

Materiality assessment

Lerøy Seafood Group carried out its first materiality assessment in 2016, with updates in 2020. In the autumn of 2022, the Group made a completely new materiality assessment in accordance with the requirements in the GRI Standards 2021.

  • In order to verify the validity of the materiality assessment undertaken in 2022, a review of the assessment was carried out in November 2023. This is an important exercise since 2023 is the year the sector standard GRI 13 “Agriculture, Aquaculture and Fishing Sectors 2022” is fully implemented. Since there are no specific changes to the value chain in the Group in 2023, the review revealed only few changes in the Group`s assessment.
  • The assessment for 2022 included 4 internal topics, Results and process, Compliance, Customers perspective and Learning and organisational development. These are no longer a part of the materiality assessment but included in the Groups KPI`s. In addition to this we have included “Climate adaption and resilience” as a new topic and changed the name of some of our previous topics. See list of material topics below.
  • The organization has not tested the topics on other stakeholders than the Management Team, the Audit Committee and the Board of Directors after they have been concluded as it sees the assessment process to be sufficient in defining the material topics

In order to determine material topics, Lerøy completed the following steps:

  • Identified the stakeholders which are the most important to the organization, customers, suppliers, business partners, employees’, regulators and community representatives
  • Identified a range of potential material topics, based on own materiality assessment, GRI 13 Sector Standard, Coller Fairr Protein Producer Index, EU Taxonomy and other relevant frameworks, which the stakeholders had to assess with regard to their relevance to them and the Group
  • Conducted the investigation via a survey and through in-depth interviews with stakeholders to get their opinion on significant topics
  • Requested the stakeholders to prioritize and assess the importance and impact of significant topics that we addressed to them and asked to point out the most relevant ones for Lerøy Seafood Group seen from their perspective
  • Assessed the following questions internally for the different topics: How grave is the impact? How widespread is the impact? How hard is it to counteract or remedy the resulting harm?
  • Prioritized material issues based on their actual and potential, negative and positive, impacts on the economy, environment, and people, including impacts on human rights. The material topics that were defined as relevant are those which the organization has or can have the greatest positive or negative impact on.
Stakeholders whose views and feedback has been collected
  • PwC: Audit and assurance, consulting and tax services
  • Løvold: Supplier of systems for mooring fish farms and other floating installations in the sae
  • The Norwegian Seafood Federation – interest organization for fisheries and aquaculture companies in Norway
  • ScaleAQ: Supplier of aquaculture systems (such as mooring systems, pens and pen accessories, barges, nets and net service, camera systems, LED lights and sensors, feeding systems etc.)
  • OneOcean – Supplier of software solutions for informed and compliant voyage decision making;
  • Söderberg & Partners: Supplier for risk assessment and financial advice
  • Ettiketto: Packaging supplier
  • Marel: Food processing machinery and software solution
  • Zoetis: Producer of medicine and vaccinations for pets and livestock
  • Atradius: Supplier of trade credit insurance, surety and collections services
  • ICA: Swedish retailer franchise
  • Wikborg Rein: one of the biggest law firms in Norway
  • Akvagroup: Supplier of solutions and services to global aquaculture
  • DNV: an international accredited registrar and classific
  • Ahlsell: supplier of products and services within electrical, tools, personal protective equipment etc.
  • Rema: grocery chain in Norway and Danmark
  • Morenot: provider of solutions to fishing-, aquaculture- and seismic industries
  • IKEA: Swedish chain selling  ready-to-assemble furniture and houseware supplier
  • Aquatiq: Supplier of process equipment, chemistry and hygiene solutions to global food industry
  • Bellona: Independent non-profit organization that aims to meet and fight climate changes
  • Båtsfjord municipality: municipality in northern Norway (Lerøy runs a processing plant in the municipality)
  • Bewi: international provider of packaging, components and insulation solutions
  • Vard: full-service ship builder and designer
  • Norgesgruppen: Norwegian grocery wholesaling group
  • DNB: Financial services company (bank)
  • Danske bank: private Nordic banking company
  • Optimar: automated fish processing company
  • Skretting: world’s largest producer of feeds for farmed fish
  • Selstad: International supplier of competence and equipment for sea-based commerce
  • NMBU: Norwegiosn University of Life Sciences (research institution)
  • Employees of Lerøy

 

Material topic 2023

Is the topic new or has it been included in ESG reporting in previous reporting period?

Climate emissions

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Climate adaption and resilience

New material topic in 2023  (GRI 13)

Biodiversity

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Water and effluents

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Waste

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Food security

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Food safety

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Animal health and welfare

The topic has been included in Lerøy’s ESG reporting in previous reporting period. In the previous reporting period the name of the topic was “Fish health and welfare”

Occupational health and safety

The topic has been included in Lerøy’s ESG reporting in previous reporting period. In the previous reporting period the name of the topic was “Health, safety and environment”

Supplier chain traceability

The topic has been included in Lerøy’s ESG reporting in previous reporting period. In the previous reporting period the name of the topic was “Supplier management”

Anti- corruption

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

Raw materials fish feed

The topic has been included in Lerøy’s ESG reporting in previous reporting period.

 

Topics in the applicable GRI Sector Standards determined as not material 

When using the GRI Standards, the organization prioritizes reporting on those topics that represent its most significant impacts on the economy, environment, and people, including impacts on their human rights. In the GRI Standards, these are the organization’s material topics. The process of determining material topics is informed by the organization’s ongoing identification and assessment of impacts. The ongoing identification and assessment of impacts involves engaging with relevant stakeholders and experts and it is conducted independently of the sustainability reporting process. (GRI, 2021). On the basis of this work, the topics listed in the table below has been determined as not material. 

 

Topics in the applicable GRI Sector Standards determined as not material

 

Topic 

Explanation 

13.4 

Natural ecosystem conversion 

The Group's farming of salmon and trout takes place in the sea along the Norwegian coast, and therefore does not affect mangroves, saltmarshes, wetlands, savannas or other terrestrial ecosystems. The use of freashwater for smolt production in Norway is regulated and thus the impact on lake and river ecosystems is negligible. 

Lerøy has an indirect impact on natural ecosystem conversion through its suppliers, especially suppliers of fish feed raw material. Lerøy is actively working towards ensuring and improving the sustainability of agricultural raw materials used in fish feed and has signed the Cerrado manifesto, and requires soy to be ProTerra/Eurosoy certified. 

13.5 

Soil health 

Lerøy's land-based facilities take up relatively little space and are mostly situated in areas already regulated for industrial activity and has no agricultural activity. Therefore, Lerøy has little direct impact on soil health. Lerøy has an indirect impact on soil health through its suppliers, especially suppliers of fish feed raw material. Lerøy is actively working towards ensuring and improving the sustainability of agricultural raw materials used in fish feed and has signed the Cerrado manifesto, and requires soy to be ProTerra/Eurosoy certified. 

13.6 

Pesticides use 

The pesticides in use in Lerøys operations are mainly to combat sea-lice in our farming operations. Only a small amount of active substance is used in delousing operations as there has been a trend towards using mechanical delousing treatment instead of chemical bath treatments in Lerøy, and in the salmon farming industry as a whole. The chemical agent with the highest volume of emitted substance in 2023 was hydrogen peroxide, which quickly dissociates in the marine environment. With the introduction of closed and semi-closed production technology in Lerøy, the use of pesticides is expected to further decrease as these production forms is expected to lower the need for delousing procedures. 

13.12 

Local communities 

Many of the Group’s companies are located in decentralised areas, making significant contributions to employment and income in the local communities.

Of the Group's water withdrawal, only 0,008% was drawn from gorundwater sources in 2023. Most of the surface water used in our operations is drawn from sources in Norway, and to the Group's knowledge there has been no adverse impacts on local communities from surface water use.   

Hazardous wastes of small quantities are stored safely and with in regulations in storage lockers design for the purpose. Throughout the Group, waste handling companies handle and transport in accordance with relevant regulations. To the best of our knowledge there have been no adverse impacts on local communities from improper handling of hazardous material.

The Group has not discovered breaches of rights of indigenous peoples directly caused by the organization. Lerøy works continuously to ensure a discrimination-free environment, where every employee and worker is treated equally, independently of their gender, age, sexual orientation, origin, ethnicity, skin color, language, religion or personal philosophy.

13.13 

Land and resources rights 

Resource rights held by LSG are mainly constituted by aquaculture licences and fishing quotas. To the Group's knowledge no local communities have been physically or economically displaced as a result of activity related to these quotas. On the contrary Lerøy remains a positive force in the local communities it operates as a considerable tax-payer, and employer.  

13.14 

Rights of indigenous peoples 

The Group has not discovered breaches of rights of indigenous peoples directly caused by the organization. Lerøy, however, recognizes its responsibility to ensure rights of indigenous peoples in our supply chain. It requires that relevant suppliers  document incidents of violations involving the rights of indigenous peoples as well as that appropriate remediation and grievance mechanisms are in place.

13.15 

Non-discrimination and equal opportunity 

At the end of 2023, the workforce comprised 39% women and 61% men across the Group. The gender ratio has been stable over several years, but in recent years we have seen ain increasing trend in the number of female workers. Lerøy’s work on equality and diversity is embedded in its overarching strategy, and increasing the proportion of women in the workforce and in management positions is a strategic KPI scorecard. The Group has set itself a target of 40% women in leading roles by 2030.

Lerøy works continuously to ensure a discrimination-free environment, where every employee and worker is treated equally, independently of their gender, age, sexual orientation, origin, ethnicity, skin color, language, religion or personal philosophy.

One of the Group’s goals is to provide a workplace without discrimination because of disabilities.

The Group has an international working environment and a number of our employees have cross-cultural backgrounds.

13.16 

Forced or compulsory labor 

To the best of our knowledge, Lerøy has no registered cases of forced or compulsory labour. Both the Group’s Business Code of Conduct as well as Supplier Code of Conduct states that there is a zero-tolerance policy towards forced or compulsory labour. The Group is performing supplier social assessment and completes supplier screening using social criteria such as prevalence of forced or compulsory labour.

13.17 

Child labor 

To the best of our knowledge, Lerøy has no registered cases of child labour. Both the Group’s Business Code of Conduct as well as Supplier Code of Conduct states that there is a zero-tolerance policy towards child labour. The Group is performing supplier social assessment and completes supplier screening using social criteria such as prevalence of child labour.

13.18 

Freedom of association and collective bargaining 

The Group supports and promotes freedom of association and recognizes the right to collective bargaining. Furthermore, Lerøy encourages its employees to organize themselves in unions of their choice. Employees not covered by collective bargaining agreements have identical working conditions and terms of employment as those who are organized in unions of their choice.

The Group keeps a close dialogue with employee representatives, as well as cooperates actively with its employees/ trade unions.

The Group provides information about the right to freedom of association, collective bargaining and participation in trade unions.

13.20 

 

The Group is performing regular reporting and monitoring of its employment practices. All employees and workers have a secure, written employment contract which defines the employment terms and conditions as well as employment benefits. Fundamental principles and rights at work are respected. Lerøy practices ethical recruitment hiring employees and workers lawfully and in a fair, transparent manner that respects their dignity and human rights.

13.21 

Living income and living wage 

Salaries paid to employees/ workers shall as a minimum comply with national minimum wage provisions or the industry standard and shall always be sufficient to cover basic needs. Salary and payment of salary shall be agreed upon in writing before employment starts. This agreement shall be in a format which the employee can understand. Disciplinary deductions from salary are not permitted.

13.22 

Economic inclusion 

Lerøy is operating in rural areas providing economic opportunities for local communities. The company contributes implicitly to development of infrastructure and other services in the areas.

When selecting its suppliers the Group also considers the potential supplier’s sustainability performance and ambitions.

Small-scale producers (farmers or fishers) however are not key suppliers of the Group.

13.24

Public policy

Lerøy Seafood Group ASA and all its underlying subsidiaries are politically neutral. We do not affiliate with any political party in any country, and we do not make political donations to political parties or to any candidate running for office, nor sell products or provide services that endorse political parties. We provide information directly to stakeholders or through our memberships of trade or policy focused organizations. Such policy engagement and political activities must always comply with Lerøy’s Code of Conduct and all applicable laws.

Double materiality assessment

For 2024 the Group will report according to EU `s sustainability directive, CSRD.  In CSRD it is a requirement to carry out a “double materiality” assessment. This means that companies must report not only on how the company’s own activities together with the company`s value chain impacts on people and the environment (impact materiality), but also on how sustainability issues might create financial risks or opportunities for the company (financial materiality).  The Group is currently carrying out its double materiality assessment.

Customer perspective

Challenges

Customers drive economic growth by creating demand for goods and services, which in turn leads to job creation and increased economic activity. Customers can have positive environmental impacts by choosing to buy products that are produced sustainably and have a lower carbon footprint. This can lead to increased demand for environmentally friendly products and services, which can drive innovation and investment in low carbon footprint products. 

Customer drive has positive social impacts by choosing to buy products that are produced in ways that are fair and ethical, such as those that are produced using fair labor practices or that support local communities

Impact

The future development of Lerøy will be determined by our ability to achieve continuous improvements, increased efficiency, innovation and development of sustainable solutions throughout the value chain. To be able to do this we need cooperate with strategic customers who share the same perspective.

To be able to reach our target to reduce climate emissions with 46% and drive innovation and investment in green technologies, we need to make choises (i.e fish feed ingredients with lower emissions). These choices need to be rooted with our strategic customers, if not , we risk developing products and services which are not demanded in the market and risk to loose value creation for our self, our customer and the society.

Lerøy will, in long term cooperation with strategic customers, develop new product categories which will generate value creation, job creation and riple effects for the local communities.

If we understand and fulfil customer and market opportunities, Lerøy succeeds when our customers succeed. We shall meet our customers’ expectations in terms of delivery, sustainability, quality and costs, and we shall create growth in existing and new markets via forward-looking and innovative sustainable solutions.

Values are created in value chains, and in businesses in value chains, that form a network and competitive processes for their customers. 

Lerøy aims to build long term relationships and alliances with both customers and suppliers. Strategic business development will play a decisive role in the future development of Lerøy.

Our ambitions in this area

Our vision “to be the world’s most effective and sustainable value chain for seafood”; requires us to continue to develop in order to achieve a position as a preferred supplier of seafood on a global scale. Our customers aim for growth and new market shares by offering competitive solutions with a view to cost and quality, innovation, security of supply and food safety.

We need to understand the wishes of our customers, and our value chain needs to be built upon competitive processes that ensure success for our customers. Feedback from customers is an opportunity for improvement.

Target: Increase the share of sales revenue from strategic customers

How we take action/what action has been taken

Lerøy has focused on achieving growth by means of securing access to raw materials that are fully traceable and governable. Lerøy's value chain comprises a large product range and allows for development of activities and products to increase customer satisfaction and willingness to pay, which in turn helps our customers gain new market shares.

The fundamental principles in the method utilised to achieve our goals are working continuously to achieve optimal flow of goods to the customer and optimal flow of information from the customer, by means of continuous improvement. This requires a decentralised organisation that is able to solve problems where and when they emerge, but also a Group that has the capacity to disseminate information from customers back to the value chain, so that all parties are aware of the challenges to be solved. Problem-solving shall be based on facts.

Lerøy has not been involved in any negative impacts through its activities or as a result of our business relationships related to customer perspective. 

How we measure our impact

The Group works actively to build long-term, strategic customer relationships in which values for both parties are created over time. Strategic customers are customers considered important to the long-term sucess of Lerøy, with the same values, goals and with mutual beneficial sustainable outcomes. Strategic customers may have an uniqe requirement or needs that are diffcult for other companies to fulfill.

The Group has and shall have a wide range of customers in order to minimise risk related to individual customers. The share of revenue from strategic customers, is used as an indicator of our performance in this area.

Target and result

In 2022, 50% of our revenue came from strategic customer, close to target. In 2022 we have been in dialogue with several strategic customers and defined strategic long term partnerships.

To define partnership models with long term beneficial outcomes takes time, our ambition is that 80% of our revenue share comes from strategic customers within 2030.

 

Target

2022

2021

2020

2020

Share of revenue from strategic customers (%)

52

50

NA

NA

NA

 

The Sustainable Development Goals (SDGs)

The Group has adopted some of the Sustainable  Development Goals established by the UN, including  environmental, economic and social development goals.

The group has selected specific sustainability goals, where we focus on the environment and climate, economy, and society.

 

The UN has developed 17 global goals for sustainable development to restructure the world over the next 15 years.

All 198 member nations of the UN have participated in the preparation of the 17 sustainability goals. The group has selected the goals that are most relevant to our businesses, which we will work towards in our daily activities and focus on in the group's strategy work.

All the companies in the group have internal sub-goals related to the work with the selected sustainability goals. Find below an overview of the linkages between material topics and SDF's in Lerøy Seafood Group.

Membership of interest groups and associations

Lerøy is a member of numerous industry and trade groups, and partners with various nonprofit organizations and non-governmental organizations, both at a local, national and international level.

This include organizations that represent the seafood industry, food industry and the business community on issues that are important to our stakeholders. 

We provide information directly to stakeholders or through our memberships of trade or policy focused organizations. Such policy engagement and political activities must always comply with Lerøy’s Code of Conduct and all applicable laws.

Interest groups logos

Benchmarking & recognition

With its catch of whitefish and the production of Atlantic salmon and trout, the Group is a globally competitive and sustainable food producer. The Group's performs its sustainability reporting in accordance with the GRI framework, and is part of the Group's annual report. Data from the Group's sustainability reporting is used by several organisations to assess Lerøy's performance on environmental, social, and governance (ESG) issues.  

One such organisation is Coller FAIRR, which annually publishes its Protein Producer Index. The index was established in 2018 to address the knowledge gap in the ESG risks associated with the food sector. It assesses 60 of the largest listed global meat, dairy, and aquaculture companies on ten ESG factors. 

Lerøy's focus and work on ESG is reflected in the index's result and was rated the 2nd best performing company in 2023.

 

Table of rating agencies and ranking

Market bans

In 2022 Lerøy and other Norwegian seafood producers are banned from Russia. This was initiated in August 2014 when Russia decided to ban the import of Norwegian seafood in response to sanctions imposed by the US, the EU and others for the annexation of Crimea and later war in Ukraine.

Sanctions adopted by the EU are implemented in Norwegian law on the basis of the Sanctions Act. Violation of the Sanctions Act is punishable and can result in a corporate penalty, Lerøy does not have any trade with Russia.

Since the Russian ban origin from 2014, the economical impact is low. Lerøy have no possibility to mitigate or avoid such bans.

In General Lerøy comply with all regulation of the importing countries to avoid marked bans.

Product development

The Group´s product development department cooperates with production and sales to create new products and improve the quality of the existing products through the entire value chain.

In the Product Development department, sustainability is at the heart of everything we do. 

 

Our vision is to be the world's best product development company for sustainable seafood, with the aim of improving people's diet. 

 

Our goal is to develop sustainable, tasty and safe product solutions, which create value for our industrial activities, and make us the consumers' preferred choice. 

At Lerøy, we believe in the power of collaboration to drive innovation and sustainability. Our Product Development Department works in conjunction with a broader team of product developers across our downstream operations, all working together in a “One Lerøy” manner.

The “One Lerøy Product Development Team” works through the entire value chain, from raw materials to finished products in stores, constantly developing new products and improving the quality of existing ones, with a strong focus on utilizing the whole fish for human consumption to reduce food waste. 

By utilizing local expertise and pooling our knowledge in our “One Lerøy Product Development Team” we can create a more diverse and inclusive product development process that prioritizes sustainability and meets the evolving needs of our customers. Our shared commitment to Lerøy's values of openness, honesty, responsibility, and innovation helps us to build an inclusive and engaging work environment that fosters creativity and continuous development. 

 

The Product Development Department in Lerøy places a strong emphasis on developing new and innovative products that meet the evolving needs of our customers, while prioritizing sustainability, with a focus on natural ingredients and low salt content, to give consumers a better and more healthy way of eating.

The department follows an "Outside – In" development model that emphasizes sustainability and user-led innovation. This approach involves understanding the insights of the external environment, such as climate, politics, income, population, competitors, and other industries. We use these insights to put together models like the 'Gear Model' and the 'Business Model Canvas,' and then use simulations with tools like drawings, Lego blocks and pretotyping.

Pretotyping involves creating simple product samples and testing them to validate our ideas. This allows us to get quick responses to quick solutions and identify potential challenges or opportunities early in the process. This can be done both in our test kitchen in our main office in Bergen or in one of our many factories. Then we invite users to provide feedback on the product samples we create. 

Product development team

Packaging

Our commitment to sustainability extends to our packaging as well. We aim to avoid over-packaging*, and to use sustainable materials whenever possible. We believe that sustainability is key to our success, and we strive to ensure that every aspect of our operations is as sustainable as possible.

Our packaging strategy is aligned with our goal to reduce food waste, prolong shelf life and product quality while having the lowest possible eco footprint. We are working towards a sustainable packaging material portfolio by 2030, using materials that can either be recycled, reused or are biodegradable.

To achieve our sustainability goals, we have established a category team for packaging, comprising people from different departments with diverse knowledge and experience. The team works closely with our own companies, suppliers, and producers, as well as other aquaculture companies and NGOs to ensure that the best packaging solutions are used.

*Over-Packaging describes a product that is wrapped in multiple layers of materials, that is either unnecessary or unwanted by the consumer.

Sushi

Safe and sustainable products

In addition to our focus on waste reduction we are also exploring the use of complementary products like algae that will help to increase the sustainability of our core products such as shellfish and white fish. Our goal is to create a range of complementary products that will add value to our core products and enhance their sustainability.

Food safety is another top priority for us. We work closely with our suppliers to ensure that our products meet or exceed industry standards for safety and quality. We are constantly reviewing our processes to ensure that we are using the most effective and sustainable methods available.

The Product Development Department in Lerøy believe that sustainability is not just an obligation, it's an opportunity. By prioritizing sustainability in our product development process, we can create products that are not only better for the environment but also more appealing to consumers.

We are proud to be at the forefront of sustainable seafood development, and we look forward to continuing to develop innovative, sustainable products that meet the needs of our customers and the world around us.

KPI's

Key Performance Indicators

Strategic framework – where are we going?

In the last few years, we have performed a larger review of the Group’s strategic framework, which is now continuously in development through our yearly plan for strategic activities. For these strategic processes, we conduct internal and external analysis of key trends that impact our operations and opportunities.

These analysis cover areas such as value drivers in our operations, our competitors, the markets we operate in, potential new markets, and potential macro risks that could influence our operations.

Furthermore we have made an assessment to identify conditions where Lerøy has an actual or potential significant impact on financial results, people, or the environment. This includes both an impact directly caused by Lerøy and the impact that we have, or may have, throughout our entire value chain.

Our materiality assessment is further described in the ESG section of the Group’s annual report. These analyses are used to improve our strategic decisionmaking, which enables us to define our strategy, as shown below, to define our shortand long-term goals, and to define our strategic initiatives.

The following table outlines the Group’s strategy on one page. Cascaded and similar exists for each of our business segments.

One Lerøy - Strategy on a page

Lerøy Visions and goals

Prioritised tasks

The Group’s values – open, honest, responsible, and creative – underlie all of our activities. They lay the foundation for our efforts to create the world’s most efficient and sustainable value chain for seafood and our vision to be the leading and most profitable global supplier of high-quality, sustainable seafood.

These are our KPI`s:

 

Strategic perspective Materiality area KPI Target 2022 Status 31.12.22 Target 2023 Target 2025 Target 2030 Revised 3rd party Comment
Results Results ROCE (%) 18 14,5 18 18 18 Y Target 18% (pre tax) over cycles. Below target in 2022 due to higher capital build and profitability below target
Revenue (NOKbn) 25 26,6 30 35 >50 Y Positive development, with strong demand post covid. Developing according to objectives.
EBIT/Kg for farming and VAP, S&D #2 #4 #2 #1 #1 N Profitability through salmon and trout valuechain compared to peers. Weak performance in 2022 among others due to high contract share in high price environment
EBIT VAPS&D (NOK)   155   1250 To be decided Y Weak year, with supply chain turmoil and high and volatile raw materiale prices. Signicant improvement expected in 2023
EBIT Wild catch   348   500 To be decided Y Lower quotas is a challenge. Key focus on increasing own volume through value chain
Harvest volume farming (1 000GWT)   175 175 205 To be decided Y Challenging growth conditions H2 2022 with growth below expectations
 
Customers Customers Share of revenue from strategic customers (%) 52 50 52 70 80 N Share of revenue from customers identified as strategic customers
IPSOS score (%) 62 59 62 66 To be decided N External reputation score in Norway
Food safety GFSI certification in factories making ready to eat products (%) 100 92 100 100 100 N Applies to own factories
Residual value of medicines in products (%) 0 0 0 0 0 N Applies for all seafood from LSG
Product recalls (number) 0 11 0 0 0 N Applies for all seafood from LSG
Activities Processes Economic feed convertion rate 1,24 1,37 1,24 1,19 To be decided N Challenging growth conditions in particulary H2 2022.
Several iniatives implemented
MAB - license utilisation (%) NA 86 91 95 To be decided N Measurement of utilisation rate of licences in farming
Growth speed (iTTT) farming NA 95 100 105 To be decided N Internal growth index measuring speed of growth in farming
Documented implemented improvement initatives NA 64 212 337 To be decided N Number of documented implemented improvement iniatives in standardised format
Documented implemented improvement initatives - reducing CO2 emissions NA   20 40 To be decided N Number of documented implemented improvement iniatives in standardised format with the aim to reduce CO2-emissions
Number of revised internal customer-supplier agreements (%) 100 66 100 100 To be decided N Number of customer supplier relationship contracts between units in our own value chain
HSE Sick leave (%) 5,5 6,7 5,4 4,7 4,1 Y Sick leave percentage: Number of days of sick leace* 100/number of possible man-days
LTI-H value(%) 11 13,29 10 0 0 Y Frequency of injuries H1/LTI =Number of injuries with absence x 1 000 000/
total number of working hours
RUH 1,5 1,3 1,9 3 3 Y The sum of near misses and safety observations
Fishhealth
and welfare
Number of red spots, sea lice, (number ) 0 1 0 0 0 N Number of violations of Norwegian regulations
Antibiotics used in sea (kg active substance) 0 0 0 0 0 Y Medication prescribed by fish health personnel
Survival in sea, harvested groups (%) 89 85 89 91 To be decided N Survival in harvested groups
Survival in freshwater (%) 92 91,4 93 To be decided To be decided Y (1-12 months rolling mortality)*100 12 months rolling mortality= (total # of mortalities last 12 month - total # of culled fish due to illness or simila)/ (closing # of fish in water + total # of mortalities in last 12 months + total # solgt fish in last 12 months + total # of culled fish)
Average density per cage in the sea (kg/m3) <25 4,1 <25 <25 <25 Y In a cage with fish there is about 97.5 % water and 2,5% fish
Climate emissions Scope 1+2 % 1 000t CO2e from 2019 138,56 141t,40 135,12 133,37 120,4 Y Climategas emissions from fossil fuels/energy
Scope 3 % 1 000t CO2e from 2019 1 288 832 1 022,23 1 160 620 1 106 050 781,4 Y Climategas emissions from fossil fuels/energy from suppliers
Raw materials fishfeed Risk assessment Yes Yes Yes Yes Yes N Implementation of risk assessment of raw materials
Soy - deforestation free (%) 100 100 100 100 100 Y Soy - share of deforestation-free soy protein conenctrate with tracebility
Novel ingredients blue mussels NA 93 98 Yes Yes N Bluemussel meal
Functionality separation technology 98%
Novel feed ingredients (Number) NA 1,3 2 4 10 N Number of various new feed ingredients
Novel ingreditens share of feed trimmings (%) NA 33 33 39 50 N Amount of marine raw materials in feed from trimmings
Certifications marine raw materials (%) 100 86 100 100 Yes Y Percentage of certified marine raw materials (%)
Certification soyprotein consentrate (%) 100 100 100 100 100 Y Lerøy does not use raw materials from soy other than soy protein concentrate
FFDRo salmon NA 1,66 1,6 1,4 0,95 Y The forage fish dependency ratio oil
Waste Waste (%) 5 37 50 60 65 N Increase degree of recycling (material recovery), Base year 2022
The KPI was adjusted for 2023
Food security Food waste (%) -30 66 -7 -21 -50 N Reduction of floorfish and unsold products, base year 2021. The KPI is changed for 2023
Water and effluents Water withdrawal reduction (%) -5 13,7 -2,5 -5 -10 NN Units in area wiht med/high risk of water stress,(WRI Aquaduct), Base year 2022.)
Water use and scarcity (%) 100 100 100 100 100 Y Carry out risk assessment for 100 % of own facilities
Supplier management New suppliers screened environmental criteria (%) >11,5 15,1 20 50 100 Y Percentage of new suppliers that were screened using environmental criteria (%)
New suppliers screened social criteria (%) >11,5 15,1 20 50 100 N Percentage of new suppliers that were screened using social criteria (%)
Screening of all suppliers Yearly Yes Yearly Yearly Yearly N Evaluation of the Group’s suppliers
Compliance Lerøy Code of conduct 40 0 0 0 0 N Number of registered cases in the Group
Lerøy Supplier code of conduct Number of registered cases in the Group
Anti-money laudering Number of registered cases in the Group
Anti-corruption Confirmed incidents for corruption 0 0 0 0 0 N Confirmed corruption cases and action/measures implemented
Learning
and organi-
sational development
Learning and organisational development Global GPTW score (%) 68 70 72 77 80 N Global Great place to work score. Measurement of employer experience. Measured in January for the last 12 months
Share of companies working with Lerøy Way (%) 40 60 67 100 NA N Share of internal business units working with Group's "business system" Lerøy Way
Gender balance in leader-positions ( % Women) NA 29,1 31 35 40 N The Group works purposefully to increase the proportion of women in leading positions
Code of conduct, sign by share of the employees (%) 100 100 100 100 100 N Registered via Motimate.