This week, Bakkafrost held the 'Bakkafrost Supplier Day', a conference where the company meets with its most important suppliers in the Faroe Islands to discuss their sustainability actions and ESG reporting. Its aim with these meetings is to engage with them to advance sustainable practices in the supply chain.
To this end, at this event, it presented its new sustainable procurement policy, which encompasses eight procurement principles that will ensure that both, expansions and maintenance investments, support continuous sustainable development.
By 2030, Bakkafrost has set a target to reduce its Scope 3 GHG emissions per tonne of salmon produced by 52%, starting from a 2020 base year. Scope 3 emissions are those that come from a company's value chain and are not under the company's control, i.e. supply chain emissions.
Given that in 2021 the salmon producer from the Faroe Islands sourced 59% of its products and services locally, the company considers it essential to establish strong partnerships with its local suppliers to ensure that they work to reduce their overall carbon footprint.
"Collaboration is key to meeting sustainability goals, and we prioritize an open and respectful dialogue with our suppliers to ensure that everyone benefits from the transition to low-carbon solutions", Bakkafrost stated.
The company, which presented its Q3 results earlier this month, has recently been ranked as one of the best Scandinavian companies in sustainability reporting in a report from Position Green (formerly The Governance Group).
Leading producer of top-quality salmon from the Faroe Islands, Bakkafrost Group offers a wide range of salmon products from their own facilities. The company is one of the world's most vertically integrated salmon farming companies. It controls all aspects of production – from feed to finished value-added products, which ensures traceability and consistently high quality. The Group is committed to maintaining the highest standards for fish welfare, sustainability, and sound stewardship of the environment.