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AquaBounty announces new ESG reporting initiative

Land-based aquaculture firm AquaBounty has unveiled an environmental, social and governance (ESG) reporting initiative to improve its sustainability credentials.

The Fish Site
by The Fish Site
14 October 2021, at 8:26am

AquaBounty Technologies launched the ESG integrated reporting initiative on 13 October.

AquaBounty has engaged MZ Group, one of the largest independent investor relations and ESG advisory groups, to conduct its ESG assessment. MZ Group will develop an ESG reporting strategy and carry out reporting in line with selected sustainability accounting principles. AquaBounty will use MZ’s proprietary reporting tool ESGiQ to collect, manage and analyse its production data. The reporting tool will also measure the quality and depth of company disclosures and generate an independent ESG score for AquaBounty.

The Company has chosen Sustainability Accounting Standards Board (SASB) as its primary reporting standard and will make a voluntary commitment to support the United Nations’ Sustainable Development Goals to drive global improvement towards objectives such as Zero Hunger, Clean Water & Sanitation, Industry Innovation, Responsible Consumption & Production, improved Life Below Water and others goals set forth by the United Nations.

“The very essence of AquaBounty’s mission is to contribute to the sustainability of our planet, relieve pressure on the oceans and provide nations with healthy, antibiotic-free and disease-free affordable fish protein,” said Sylvia Wulf, Chief Executive Officer of AquaBounty.

“While we have always conducted business as a good neighbour, working to give back to the local communities in which we operate, we are excited to add material ESG aspects into our corporate strategy and Key Performance Indicators (KPIs). We believe such integrated reporting will play an instrumental role in enhancing our profitability and risk oversight going forward.”

“We will implement changes to our decision-making process over the next three to five years to include most material aspects of ESG reporting - setting up the methodology for proper tracking and analysis of identified metrics,” said David Frank, Chief Financial Officer of AquaBounty.

“I am pleased that our Board, management and other stakeholders are backing our ESG reporting initiative and I look forward to sharing our first report with the market later this year.”

In the future, AquaBounty will seek to add reporting figures for Global Reporting Initiative (GRI) and Task Force on Climate-Related Financial Disclosures (TCFD), in addition to its ESG reporting to SASB standards.