Climate and energy consumption policy

Owner/approver: Head of ESG & Quality 

Valid from: 2022-04-08

Purpose

Lerøy Seafood Group (Lerøy) has an ambition to be the leading and most profitable global supplier of sustainable high-quality seafood. In order to achieve this ambition, it is crucial to establish priorities and direction, and to clearly define what factors are strategically important for our success.

This policy provides a brief and principal description of how Lerøy shall carry out responsible environmental and climate management for the company’s activities and its business partner's activities.

Lerøy is committed to the further development of targeted environmental work, thus contributing to helping solve global challenges regarding climate change. Lerøy shall send clear signals to the market communicating that a climate-neutral low carbon economy by 2050 is an achievable and beneficial target.

Lerøy shall take active measures to identify new and innovative solutions to help cut the company’s greenhouse gas emissions, to further develop existing collaborations and find new partners to help us achieve our climate goals and help developing low carbon society.

The company shall take action to prevent operations from inhibiting an optimally stable climate, by measuring, monitoring, reporting and reducing the company’s carbon footprint. The Company shall report its Scope 1, 2 and 3 emissions in accordance with the Greenhouse Gas Protocol (GHG).

 Lerøy shall take comprehensive measures and commit to establishing climate targets for all operations throughout the value chain.

Lerøy has committed to a Science-based target which is aligned with the climate targets of the Paris Agreement (2015), and willingly accepts the responsibility to do its share towards limiting global warming:

• The company is committed to 46%  GHG emission reductions (Scope 1+2+3) by 2030, with 2019 as a base-year. (The 1.5 degree target)

Lerøy shall regularly map climate-related risk, carry out assessments and analyses for further decisions and  make necessary adjustments.

Valid for

This policy applies to all employees and workers in the Group. Contracts with business partners operating in relation with Lerøy shall include requirements for compliance with the contents of this policy.

Definitions

Scope 1 – All direct greenhouse gas emissions from use of fossil fuels for own operations.

Scope 2 – Indirect emissions from purchased electricity and district heating/cooling.

Scope 3 – Indirect emissions from input factors (purchased goods or services).

Science-Based Targets – Targets based on what research has shown to be necessary to reach the targets in the Paris Agreement. The targets must therefore help limit global warming to well below 2°C, and strive to limit global warming to 1.5°C.

Employee - an individual who is in an employment relationship with the organization, according to national law or its application. Employees have a written employment contract directly with the organization.

Worker – an individual who performs work for a certain period of time (for example, seasonal workers etc.) and who is hired via manning agency. Workers have a written employment contract with manning agency.

Framework and principles

Lerøy is committed to complying with prevailing environmental regulations, guidelines and principles, defined in the following documents:

Greenhouse Gas Protocol (GHG Protocol) – comprehensive global standardized framework to measure and manage greenhouse gas (GHG) emissions from private and public sector operations, value chains and mitigation actions.

Paris Agreement  2015 – An international agreement to ensure that countries worldwide are able to limit climate change.

 ISO 14001 : 2015 Environmental management systems – Requirements with guidance for use (ISO 14001 : 2015).

 ISO 14064 : 2018 Greenhouse gases – Part 1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals.

Roles and responsibilities

• Lerøy’s top management is responsible for defining the company’s climate and environmental direction, and is responsible for the contents of this policy.
• All Lerøy employees and workers, within their areas of responsibility and disciplines, are responsible for contributing towards achievement of the company's climate goals.
• The local management in each company is responsible for ensuring that the company has personnel with the competencies required to ensure compliance with relevant local regulations.

Policy ownership and implementation

• The Head of ESG & Quality is the owner of this document, and is responsible for updates.
• The policy has been approved by the Corporate Management at Lerøy, and is presented to the Group's Board of Directors.
• The CEO of Lerøy Seafood Group has overall responsibility for the policy.