August 14, 2017


Cermaq rated as most transparent salmon farming firm in 2017



Cermaq, one of the world's leading companies in farming of salmon and trout, emerged as No. 1 in ranking of Seafood Intelligence's 2017 annual transparency benchmark report.


For the 7th year Seafood Intelligence, a subscriber-based international economic and market intelligence news service and information portal, has been benchmarking transparency in top 36 salmonid farming and 11 fish feed companies. Cermaq has been No.1 1 five times and No. 2 twice.


"I'm proud of this accomplishment. Our commitment to openness and transparency is at the heart of everything we do. It is our ambition that through transparency and open reporting on material topics, we will improve and strengthen the constructive dialogue with our stakeholders," Cermaq CEO Geir Molvik said.


For his part, Wenche Grønbrekk, head of Sustainability and Risk, said, "We are working continuously to progress our reporting, and it is very valuable for us to obtain an objective and comprehensive feedback on our efforts".


"We also believe that good reporting is an essential tool to strengthen sustainability performance", he added.


Transparency robustness highlighted


Besides the detailed rating system, the benchmark report highlights several elements that present the robustness of Cermaq's transparency including the alignment of the company's strategy to the UN Sustainable Development Goals, participation in industry partnerships such as the Global Salmon Initiative, Seafood Business for Ocean Stewardship (SeaBOS) and FReSH, and its acknowledgement of impacts and challenges.


Cermaq, which has operations in Norway, Chile and Canada, said in March that it was investing in its communication strategy as a way to meet customers' needs.


"The [aquaculture] industry has underestimated this greatly, including Cermaq. We are proud to presents our product honestly and without filter. Cermaq has until now, acted like we had very little to say or promote. This will change", Molvik said then.


As the "most transparent seafood company in the world", Cermaq said that a transparent supply chain also involves telling "how we do what we do in a clear and simple professional way so that those who do not know the industry will have a much greater understanding of it going forward".


Cermaq, the second-biggest salmon company in the world, is a fully owned subsidiary of Mitsubishi Corporation with head office in Oslo, Norway.

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