AQUABOUNTY ANNOUNCES ESG INTEGRATED REPORT INITIATIVE
AquaBounty Announces ESC Integrated Report Initiative – AquaBounty Launches Environmental, Social, and Governance (ESG) Integrated Reporting Initiative
AquaBounty Technologies, Inc. (Nasdaq: AQB) (“AquaBounty” or the “Company”), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, announced that it has launched its Environmental, Social, and Governance (ESG) integrated reporting initiative.
AquaBounty has engaged MZ Group, one of the largest independent investor relations and ESG advisory groups, to conduct its ESG assessment, develop an ESG reporting strategy and carry out reporting in line with selected sustainability accounting principles. AquaBounty will utilize MZ’s proprietary reporting tool ESGiQ to collect, manage and analyse data in accordance with selected reporting standards, as well as score quality and depth of disclosure based on guidelines accepted by AquaBounty’s management and the Board, to generate an ESG score for the Company.
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. In future years, 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.
“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 neighbor, 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 3-5 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.”