At the launch of BioMar’s latest sustainability report, the group announced it had become the first aquafeed company to have its ambitious carbon reduction targets independently validated to meet the 1.5°C trajectory. This is currently the most ambitious designation available through the Science Based Targets Initiative (SBTi) process.
“As around 80 percent of the carbon emissions of aquaculture farming comes from the feed, our customers expect BioMar to take ambitious steps quickly to reduce our emissions,” states Vidar Gundersen, BioMar Group’s global sustainability director, in a press release.
With global warming and climate change the most pressing problems facing society today, ensuring businesses meet carbon reduction targets is ever more important. The latest Intergovernmental Panel on Climate Change (IPCC) report announced that human activities had already caused approximately 1.1°C of global warming compared to pre-industrial levels. While research shows that if we continue with business as usual, warming will likely reach 3°C above pre-industrial levels by the end of the century.
In 2022, BioMar turned 60 years and celebrated this milestone by undertaking environmental and social community projects across BioMar, which are showcased in the report along with the new corporate strategy
BioMar’s latest sustainability report outlines the reduction targets validated by the SBTi initiative. In 2022, the total reduction was at 5.5 percent from the commitment to reduce emissions by one-third by 2030. Together with suppliers, the group launched improvement programmes to reduce environmental impacts and increase circular and restorative practices, as most of aquafeed’s carbon footprint comprises Scope 3 emissions related to the raw materials.
As Carlos Diaz, BioMar Group’s CEO, explains in a press release: “An outcome of our new strategy is to go beyond feed and hopefully pave the way for BioMar to become an even better solutions provider. Our new strategy, ABOVE & BEYOND, will guide our actions and initiatives until 2028. It is an ambitious strategy with exciting opportunities, and sustainability is no longer just a part of the strategy – it is the strategy”.
