Emissions 2024

Lerøy is continuously working on improving its monitoring and reporting of greenhouse gas emissions. Information regarding our greenhouse gas emissions is crucial for understanding and responding to environmental challenges as well as to being able to identify improvement opportunities.

2024 was the first year Lerøy reported according to Corporate Sustainability Reporting Directive (CSRD). The Group's Scope 3 accounting was updated considerably ensuring compliance with the requirements in CSRD as well as completeness fo all reporting categories. This is a major change which contributes to much higher GHG-emissions compared to the original 2019-levels. This is a complex area and, in coming years, the Group will continue to work on improving data quality, particularly within the category Purchased Goods and Services.

The Group’s toltal Scope 1, 2 and 3 GHG emissions in 2024 have decreased with 0,6% (12 174 tCO2e) compared to 2023 levels.

Scope 1 emissions have decreased with 7% compared with 2023 levels.

Scope 2 emissions have decreased with 7% compared with 2023 levels.

Scope 3 emissions have increased with 1% compared with 2023 levels.

Science Based Targets

Lerøy Seafood Group has committed to a science-based target which is aligned with the climate targets of the Paris Agreement (2015). The Group aims to achieve a 46% GHG emission reduction (Scope 1+2+3) by 2030, with a 2019 base-year (the 1,5 degree pathway). The science-based target was reviewed and approved by the Science Based Targets initiative (SBTi), with approval date 9th April 2021. This is a fixed (absolute) reduction target that does not change with the Group's growth or changes in production levels, meaning that even if the Group expands its operations, it must still achieve the same total reduction in emissions.

In 2024 Lerøy has reduced its overall Scope 1, 2 and 3 emissions with 4,7% from 2019 levels.

The implementation of CSRD has led to significant changes in GHG calculations for both the base year (2019) and recent reporting year (2024). Lerøy has commenced working on updating its Industry & Energy science-based target as well as setting its Forest, Land and Aquaculture (FLAG) target.

Lerøy has an ambition to become climate neutral by 2050.

The reported emission figures have been collected throughout 2024 both internally and from relevant external suppliers.

Lerøy’s GHG emissions are reported in accordance with the GHG Protocol Corporate Accounting and Reporting Standard. The Group uses operational control approach for consolidating its GHG emissions accounting. It means that emissions from operations, over which Lerøy have operational control, are included in Scope 1 and 2 reporting. Indirect upstream and downstream emissions relating to its operations are accounted for in Scope 3. Reporting units account for their use of fossil fuels, refrigerants, electricity, district heating/cooling, water usage, waste composition (incl. methods of waste disposal).

Climate account statements are consolidated in the same manner as financial statements showing aggregated results for the Group’s entities (reporting units).

The Group’s Scope 3 emissions are reported in accordance with the GHG Protocol Corporate Accounting and Reporting Standard (Corporate Value Chain (Scope 3)). For more detailed information, please, see table Scope 3 Overview per Category below.

Emission factors

Emissions data for Scopes 1, 2 and 3 cover reporting of the following greenhouse gases: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and HFO (hydrofluro-olefins). There are seven main GHGs that contribute to climate change, as covered by the Kyoto Protocol: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF6) and nitrogen trifluoride (NF3).

The Group has had 7 270 tCO2e biogenic CO2 emissions in Scope 1. 

Biogenic emissions are CO2 emissions related to the natural carbon cycle, as well as those resulting from the combustion, harvest, digestion, fermentation, decomposition, or processing of biologically based materials.

Scope 1

Sources for Scope 1 emission factors used for calculation of tCO2e are DEFRA (Department for Environmental Food and Rural Affairs, UK Government), 2024, US Environmental Protection Agency (2024), Norwegian Environmental Agency (2023), Linde Gas (2019; 2022; 2024), Honeywell Refrigerants (2014), A-gas (2024). 

Scope 2

There are two types of Scope 2 emissions: location-based, and market-based. Location-based Scope 2 emissions are calculated based on the average emissions factor for the grid region where the organisation consumes electricity. Market-based Scope 2 emissions, on the other hand, take into account the specific contractual instruments that an organisation has in place to purchase renewable energy certificates or power purchase agreements.

Sources for Scope 2 emission factors used for calculation of tCO2e are: International Energy Agency (2024), Foreløbig national deklarering af 1 kWh el, 2022 (Energinet, 2023), Generelle eldeklaration 2022 (Energinet, 2023) (Denmark), Norwegian Water Resources and Energy Directorate (NVE) (2024), Fjernkontrollen (2024), Energistyrelsen (2024), Finnish Energy (2024). 

Guarantees of Origin (GOs)

The Group has purchased Guarantees of Origin (GOs) in 2024. Information regarding companies which have purchased GOs as well as the percentage share that covers the consumption is reported in Cemasys (the Group’s internal reporting system for GHG emissions accounting).

Regarding market-based emissions – the choice of emission factor using this method is determined by whether the business acquires GOs or not. For electricity without the GOs, the emission factor is based on the remaining electricity production after all GOs for renewable energy are sold. This is residual mix, which is normally substantially higher than the location-based factor.

Scope 3

Sources for Scope 3 emission factors used for calculation of tCO2e are: DEFRA (2024), Års- og bærekraftsrapport 2023 for Vygruppen, study "Investigating the impact of e-bikes on modal share and GHG" (2019), VR Group Annual Report 2023, Avg energy consumption (Norsk elbilforening), Ruter 2023 Miljorapportering and IEA (2024), Ecoinvent 3.11, Greenhouse gas emissions of Norwegian seafood products in 2017. SINTEF study, based on EPD, US Environmental Protection Agency (2024), Information from fish feed and plastic products suppliers.

The categories included in the table are accounted for in the Group’s Scope 3 reporting. The Group does not have downstream leased assets or franchises. The Group also evaluates that use of sold products is not relevant to the Group’s reporting as “sold products” in our context is food which is consumed by the customers.

Scope 1, 2 and 3 GHG Emissions 2024 (incl. % change comparing to base year (2019) and comperative year (2023))

Scope 1 & 2 GHG emissions per opearating segment

For more detailed information regarding the categories, please visit Corporate Value Chain (Scope 3) Accounting standard

Emissions from feed production 2024, incl. land luse

GHG emissions intensity ratio per operating segment