June 15, 2020

 

BioMar releases sustainability report

 

 

High use of trimmings and the use of novel ingredients have enabled BioMar Group to achieve a five-year average of 1:1 or below the Forage Fish Dependency Ratio for the group's raw material usage.

 

The development is one of many findings revealed in BioMar's Integrated Sustainability Report for 2019 that is released on June 15.

 

"Although it seemed unlikely that it would be possible to achieve a great FIFO ratio every year, due to ever changing market conditions, we see that by embedding a sustainability mindset in our culture, we have been able to achieve this impressive milestone while still delivering on our financial results," said Carlos Diaz, CEO of BioMar Group.

 

Sustainability has long been a core pillar in BioMar in addition to innovation. Although market conditions for raw materials will change from year-to-year, the investment in innovation for alternative ingredients is paying off, the company said.

 

BioMar also stated that it is solely dedicated to sustainable aquaculture feed as the success of the company depends on the sustainable future of the aquaculture industry.

 

"Only with the wider adoption of novel ingredients in sustainable feed will these products become cost competitive and mass market scale can be achieved. We see a future where seafood from aquaculture will be seen by consumers as the sustainable protein choice for the good of the planet," said Vidar Gundersen, global sustainability director of BioMar Group.

 

This year, BioMar has reported more community and society activities in response to the United Nations Sustainable Development Goals that state sustainability goes beyond production and operations.

 

"We have always believed that education and knowledge exchange is the key to driving long term sustainable development and we are proud to this year add to the report our achievements in these areas. Later this year, we will review our corporate KPIs with the intention of setting ambitious targets that will continue to drive us even further," said Diaz.

 

"We are now entering the decade of ocean science as declared by the United Nations, and this year's report highlights the importance for good stewardship and management of our oceans," said Gundersen. "We see the wider adoption of novel ingredients as being important for achieving this. We are also taking transparency and traceability one step further and our partner Orivo recently launched a solution for DNA-based authenticity of marine products which we already have implemented to our quality procedures."

 

In its "Creating a Sustainable Food Future" report, the World Resources Institute pointed to sustainable aquaculture feeds as one of their top five solutions. That is why BioMar accepted the invitation to be part of the advisory board for the High-Level Panel for A Sustainable Ocean Economy with the UN, 14 serving government leaders and other business leaders.

 

BioMar launches this year's sustainability report with a marketing campaign to help promote sustainable practices and facilitate the wider adoption of sustainable feed across the aquaculture industry.

 

- BioMar