Our Climate Impact

Together with local environmental experts, Emisoft, Seaborn have prepared a climate impact report that focuses on our GHG emissions.

GHG123-emission software

With Emisoft as our system provider, we utilize their GHG123 software to calculate our GHG emissions GHG123 is a detailed and transparent climate accounting system in accordance with the GHG-protocol. The system enables full flexibility for time periods, organizational structure, and traceability in data. Users can enter activity data or utilize pre-calculated CO2equivalent results, enhancing convenience and accuracy in emissions tracking.

2021 was our first year of reporting on GHG emission. While the report was an important first step towards raising awareness on our climate impact, we acknowledged that we needed to enhance our data collection and analysis capabilities. This year, we broadened our scope and encountered various challenges related to data collection. By working actively with these challenges, we, along with our suppliers, discovered new ways to gather data with greater transparency. As a result, we have gained unique insights into our value chain and identified our biggest emission sources. Based on this effort, we have established a baseline that will be the starting point for attaining our reduction objectives.

Why is this important?

External

IPCC AR6 Synthesis Report: “Continued greenhouse gas emissions will lead to increasing global warming, with the best estimate of reaching 1.5°C in the near term in considered scenarios and modelled pathways. Every increment of global warming will intensify multiple and concurrent hazards (high confidence). Deep, rapid, and sustained reductions in greenhouse gas emissions would lead to a discernible slowdown in global warming within around two decades, and also to discernible changes in atmospheric composition within a few years».

Internal

Sustainability has emerged as a prominent topic, especially among the younger generation.InorderforSeaborntogetthebest and most competent employees, it is important to show that we have a clear sustainability strategy. In this way, we become an attractive company for our employees, and weworktowardssomethingwearepassionate about – a more sustainable production of seafood.

The calculation of Seaborn’s climatefootprintisbased on the framework specified in the GHG-protocol. This is the most commonly used and standardised methodology for calculating climate impact. In 2022 we started the comprehensive process of collecting quality data from our suppliers, focusing on Scope 3 where we have most of our emissions through our value chain, see Figure 2. A task force was appointed with a goal to analyse our supply chain and create guidelines that defines how to request, collect, and utilize required data. Figure 3 depicts greenhouse gas emissions per GHG Scope and category.

Seaborn does not have any direct emissions in scope 1. This is because our operations do not involve activities that generate greenhouse gas emissions through the burning of fossil fuels or other direct sources. Indirect emissions from purchased energy are based on electricity consumption at our office premises and calculated using location-based method.

We have successfully reduced emissions from purchased goods and services since 2021. This reduction is primarily attributed to a decrease in the quantity of fish purchased, 22% less purchased fish compared to 2021, and usage of new emission factors. In 2022, SINTEF conducted an update on the standard CO2e emission factor for salmon feed, farming, and harvest. This update resulted in a reduction from 5.3kg CO2e/kg edible salmon to 4.85kg CO2e/kg edible salmon This revised emission factor contributes to significantly lower CO2e emissions from our fish suppliers in 2022. Also, approximately 20% of our purchased fish comes from fish farmers in the Salmon Group, where the emission factor is significantly lower than the standard factor from SINTEF. This is due to Salmon Groups commitment to sustainability. Using different factors for Salmon Group members and non-members was new this year.……

Transportation emissions have significantly decreased in 2022 - a decrease of 40% compared to 2021. This improvement is due to the adoption of emissions calculations provided by our software supplier Maritech. By utilizing more accurate calculations, we can better measure, and thus reduce, our transportation-related emissions. Maritech provides a comprehensive overview of emissions associated with the different transportation modes we use. By utilizing this tool, we can assess how different choices in transportation will directly affect CO2e emissions

Figure 4 depicts amount of sold fish per mode of transportation compared to amount of CO2e emission per transportation mode. Despite the relatively small quantity of fish transported by air, the environmental impact of these flights is strikingly high due to thecarbon-intensive nature of aviation. This graph underscores the need to explorealternativetransportationmethodsthatcan reduce the carbon footprint associated with fish transportation, ensuring a more sustainable and environmentally approach in the future.

Maritech is a leading supplier of seafood software. They have developed a software designed to simplify environmental reporting related to transportation data. The solution is based on automatic data flow from our trading system and provides adetailedoverviewofemissions, bothon individual and aggregated level, based on the route, country, type of vehicles, distance, and other parameters.

We have expanded our emission tracking to include waste generated in operations, business travel, employee commuting, and upstream leased assets. We account for waste generated solely from our offices, while business travel encompasses flights and hotel stays. Moreover, we aim to incorporate other travel types, such as train, to ensure a holistic approach. Emissions from upstream leased assets include the energy consumed in our leased storage facilities.

All Scope 3 categories are listed in the table below. Some categories are not relevant for Seaborn, while others have been omitted this year due to insufficient data availability. We aim to enhance our climateaccountingefforts, andintheend, toinclude all relevant categories.

Includes

Purchased fish from all suppliers and IT equipment

Not relevant

Calculated from energy consumption

Transport from all suppliers

Waste from office operations

Flights performed by all employees and hotel stay

Travel habits survey conducted and reported

Energy from storage

Not relevant

Not included this year

Not included this year

Not included this year

Not relevant

Not relevant

Not relevant

Salmon Group AS

The Salmon Group is a collective of fish farmers who share a common vision for sustainable aquaculture practices. Salmon Group places great importance on sustainable feed practices as a key component of responsible aquaculture.

Salmon Group’s feed recipe includes a higher-than-average share of marine ingredients, and is continually developed further to include novel, more sustainable ingredients. Sustainability and the fish’s health and wellbeing are the top priorities when including or excluding ingredients in the recipe, always adhering to the principles of “fish, people, globe” – meaning that all the decisions shall be beneficial, and not have detrimental effects, for the fish, the people who eat our fish, or our globe.

We have chosen 2022 as our baseline year for comparing emissions. This decision was made due to significant improvements in data quality and the inclusion of relevant Scope 3 categories that provide a more comprehensive overview of our environmental impact. Our 2022 climate impact can be seen in Table 1