BioMar has announced its commitment to the 1.5°C pathway toward net-zero under the Science Based Targets initiative (SBTi) for reducing carbon emissions. The announcement has been done in the company's recently launched Integrated Sustainability Report, which reflects its ambition to reduce GHG emissions by one-third by 2030. BioMar is the first global aquafeed supplier to adopt the 1.5°C pathway, following the United Nations Intergovernmental Panel on Climate Change (IPCC) recommendations.
The IPCC, the United Nations body for evaluating the science related to climate change, has stated that to avoid the worst effects of climate change, greenhouse gas (GHG) emissions must be halved by 2030 and reach net-zero by 2050. To achieve this, both public and private entities must follow an alignment of reductions to keep global warming below 1.5 °C. In the case of the private sector, the program that brings them together and mobilizes them to lead urgent climate action by setting science-based emission reduction targets is the Science Based Targets initiative (SBTi). More than 2,200 private organizations have committed to it to drive and validate ambitious GHG reductions, representing one-third of the global market capitalization.
BioMar, for its part, announced its aim to reduce GHG emissions by one-third by 2030 in its latest Integrated Sustainability Report, 2021. To make this a reality, the company has developed a long-term master plan "focusing on operations and broader supply chain partners to create innovative solutions that allow us to reach our reduction targets", according to today's announcement.
"As aquaculture feed represents around 80% of the carbon footprint of farming, it is essential to our farmers that BioMar makes a strong commitment and accelerates the drive to net-zero. In this year's Sustainability Report, we lay out in detail our reduction pathway while disclosing where we are today. We thoroughly explain the robust scientific methodologies and reporting systems that we are using", Vidar Gundersen, BioMar's Global Sustainability Director, stated.
To fulfill this commitment to the 1.5°C pathway for reducing carbon emissions, en ese long-term master plan, the new BioMar report states that in scopes 1 and 2, a 4.2% year-on-year absolute GHG emissions reduction target will be achieved, while a 30% reduction in scope 3 is required.
In this Integrated Sustainability Report, 2021, circularity and restorative practices are the central themes, with numerous examples of upcycling and new ingredients – such as the announced microalgae and Proton™ – that will play an important role in the sustainable future of the aquaculture industry. In addition, in this year's report, the company pays special attention to people and communities. Thus, along with the launch of new ambitions for 2030 and a revised Code of Conduct, a strong commitment has been made in the areas of responsible remuneration, skills development and diversity, and equality.
Founded in 1878, BioMar is fully owned by the Danish conglomerate Schouw & Co. They are innovators in high-performance aquaculture feed creating a healthy and sustainable global aquaculture industry. The company operates 17 feed factories across the globe and supplies feed worldwide to around 90 countries and for more than 45 different species.