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biomega® publishes second annual ESG Report.  biomega® has released its second annual Environmental, Social and Governance (ESG) report outlining the Norwegian-headquartered company’s emissions figures and targets, alongside its 2026 strategy.

As a producer of premium Norwegian salmon-based innovative ingredients for the human nutrition, pet food and aquafeed markets, biomega® has reported on its 2023 financial year key performance indicators, including its scope 1, 2 and 3 emissions for its production plant in Norway and scope 1 and 2 emissions in Denmark.

The report outlines the biotechnology company’s efforts to conduct Life Cycle Assessments (LCA) for its inclusion in the European commissioned LIFE CONQUER project, with a view to expanding these evaluations to all products in 2024 to deliver a comprehensive assessment.

Stig Petersen, CEO of biomega®, commented: “biomega® has made significant progress to uphold our ESG values throughout 2023. Our commitment to striving for a more sustainable world has been strengthened by our continuous involvement in large-scale projects, such as LIFE CONQUER, the Greenport North initiative to generate green energy sources, and most recently, the Horizon supported project CONVEY, led by Norwegian Hydrogen, which focuses on using surplus windmill energy to produce hydrogen.

“At the core of our operations is our production plants. In 2023, we successfully tested innovative methods for our inbound transportation and, as part of the LIFE CONQUER project, this year we have already started a new process to extract more protein from fish bones to utilise a higher percentage of salmon for the food industry. This feeds into our organisational purpose to support and create circularity throughout the aquaculture industry.”

The report, which is available to download on the biomega® website, also outlines how the company conducted its first double materiality assessment and showcases its alignment with the European Sustainability Reporting Standards (ESRS).

In addition, it covers LIFE CONQUER environment and climate goals, including reducing greenhouse gas emissions by 1,600 tonnes of CO2 equivalent per year, saving 30,000 tonnes per year of water, and upcycling 18,300 tonnes per year of side-stream exploited food raw materials by the end of the project.

As part of its social activities throughout 2023, biomega® has made significant progress in its gender diversity outcomes, with 50% female and 50% male positions held on the board of directors. In terms of governance, the company has now performed audits on suppliers identified with the highest risk regarding human rights, labour rights, biodiversity, ecosystems, marine pollution, end-user health and safety, and animal welfare within its value chain, with a view to including a social governance clause in its raw material contracts by the end of 2024.

“Looking ahead, we are concentrating on fully utilising our leftover materials, limiting our emissions impact even further, and continuously improving our organisation to fulfil its purpose of creating circularity in the aquaculture industry. Our second report is therefore a testament to our journey and commitment to a healthier and more sustainable world,” Petersen concluded.

To download the biomega® ESG Report for the 2023 financial year, please visit: biomegagroup.com/esg-report/