Lerøy Seafood Group ASA

LSG:NO NO0003096208
Key Information
HQ:
Norway
Market Cap:
$2.93bn
Primary Markets:
Asia, Europe & Russia



Company Information

Company Summary

Lerøy Seafood is engaged in the farming, processing, packaging and marketing of seafood. Its core business, based in Norway, is producing salmon and trout, catching whitefish, processing, product development, marketing, selling and distributing seafood. The Company has production and packaging plants in Norway, Sweden, Denmark, Finland, France, the Netherlands, Portugal, Spain, Italy, Turkey and Shetland Islands.
Lerøy Seafood Group ASA

Revenue

Total revenue:

$2.7bn

Revenue by Geography

Revenue by Protein

Revenue by Product Type

Note: This financial breakdown is based on Annual reports released in 2022, containing, in most cases, FY2021.


Disclosures

CDP ScoresLast Reviewed: 11/10/2023

CDP ClimateCDP ForestsCDP Water
YesYesYes

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
1.5°CTargets Set2021

Coller FAIRR Protein Producer Index

Analysis Overview

Index-Radar-2023
Greenhouse Gas Emissions Deforestation & Biodiversity Water Use & Scarcity Waste & Pollution Antibiotics Animal Welfare Working Conditions Food Safety Sustainability Governance Alternative Proteins

Analysis Breakdown

Risk Score

81/100
Low Risk



Greenhouse Gas Emissions

84/100

Scope 1, 2 & 3 Target
75/100
Type of Target
0/0
Strength of Target - SBT
3.75/5
Source(s): 2022 CDP Climate Change; Annual Report 2022, page 35; Webpage - About Leroy; Webpage - Leroy SBTi; Webpage - Value Chain; Webpage Climate emission reduction iniatives; Webpage Greenhouse gas emissions

Innovation on GHG Emission Reduction
80/100
Innovation to Reduce Agriculture Emissions
1/1
Feed Farming Innovation
1/2
Animal Farming Innovation
2/2
Source(s): Leroy Climate Change 2022_pdf.pdf, page 29, 30, 35; Webpage Climate emission reduction iniatives; Webpage Climate scenario analysis; Webpage Fish Feed; Webpage Ocean Forest

Quality of GHG Inventory
100/100
Quality and scope of GHG inventory Completeness
1.5/1.5
Feed & Animal Farming Emissions
2/2
Transparency of GHG Inventory
1.5/1.5
Source(s): Leroy Climate Change 2022_pdf.pdf, page 2, 3, 78; Webpage Greenhouse gas emissions

Emissions Performance
100/100
Overall Emission Performance
5/5
Source(s): Annual Report 2022, page 19, 195; Leroy Climate Change 2022_pdf.pdf, page 35; Webpage Fish feed; Webpage Greenhouse gas emissions

Climate-related Scenario Analysis
65/100
Climate-related Scenarios Analysis Conducted
1/1
Disclosure of Analysis Results on Material Risks
2.25/3
Disclosure of Financial Material Events & Alignment of CAPEX
0/1
Source(s): 2022 Annual Report, page 41; FILE 1 , page 47; Green Finance Report 2022, page 4, 6; Leroy Climate Change 2022_pdf.pdf, page 11, 20, 21, 28, 80, 81; Leroy TCFD Report 2022.pdf, page 13, 28; Webpage Climate; Webpage Fish Feed; leroy-annual-report-22_USE.pdf, page 194



Deforestation & Biodiversity

88/100

Deforestation/Conversion-free Target - Soy for Animal Feed
95/100
Risk Assessment to Identify High-risk Locations
0.25/0.5
Strength of Deforestation Commitment
2/2
Regional & Operational Coverage of Commitment
1.25/1.25
Transparency - Progress Against Commitment
1.25/1.25
Source(s): Annual Report 2022, page 235; CDP Forests 2022, page 5; KPI Deforestation; Leroy Forest 2022_pdf.pdf, page 3, 8, 9, 25, 26, 29, 30, 31; Webpage Climate; Webpage Fish Feed; Webpage KPI's; Webpage Soy Vendors

Engagement, Monitoring & Traceability - Soy for Animal Feed
100/100
Supplier Engagement
1.25/1.25
Compliance monitoring & Traceability
3.25/3.25
Feed Innovation
0.5/0.5
Source(s): CDP Forest 2022, page 12; CDP Forests 2022, page 9, 10; KPI Deforestation; Webpage Novel feed ingredients; Webpage Policies; Webpage Sustainable protein

Aquaculture Certification (ASC, BAP, GlobalGAP, SSP)
100/100
Proportion of Farms Certified
5/5
Source(s): Annual Report 2022, page 235; Webpage ASC Certification; Webpage Our Certifications

Feed Ingredients & Conversion Ratios
70/100
Feed Disclosure
2/2
Performance of Feed Metrics
1.5/3
Source(s): Annual Report 2022, page 35, 235, 246; Webpage Fish Feed

Feed Innovation
90/100
Strategy
2.25/2.75
Performance
2.25/2.25
Source(s): Webpage Fish feed and raw materials; Webpage Food safety and health; Webpage Novel feed ingredients; Webpage Ocean Forest; Webpage Water and waste management

Sea Lice Management - Salmon (Fish at Sea Only)
80/100
Sea Lice Disclosure & Management
2/2
Cleaner Fish
2/3
Source(s): Webpage Fish health and fish welfare; Webpage Sea Lice

Ecosystem Impacts
80/100
Escapes
2.75/3.25
Reducing Biodiversity Impacts
0.75/1.25
Algal Blooms
0.5/0.5
Source(s): Annual Report 2022, page 161; Webpage - Removing plastic and waste from our seas; Webpage Biodiversity; Webpage Escapes; Webpage Policies



Water Use & Scarcity

83/100

Water Use & Scarcity in Facilities
79/100
Monitoring Water Consumption & Withdrawals
0.75/0.75
Target to Reduce Water Consumption & Withdrawals
0.5/1
Disclosure & Performance of Water Risks in Facilities
2.68/3.25
Source(s): Annual Report 2021, page 229; FILE 1 , page 25, 26; Leroy Water Security 2022.pdf, page 3, 7, 11, 23; Water and waste management; Water and waste management Webpage; Webpage Policy: Freshwater use; Webpage Water and waste management

Water Use & Scarcity in Feed Farming
88/100
Supplier Engagement in Water Use in Feed Farming
2/2.5
Disclosure of Water Risks in Feed Farming
1.5/1.5
Source(s): FILE 1 ; Water and Waste Management Webpage; Water and waste management



Waste & Pollution

54/100

Wastewater at Facilities
69/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
1.25/1.5
Transparency on Water Pollution Risks
1.75/2
Performance on Wastewater Quality & Volume Discharged
0.45/1.5
Source(s): Annual Report 2021, page 240; Leroy Water Security 2022.pdf, page 3; Water and waste management; Water and waste management webpage; Webpage SUSTAINABILITY LIBRARY 2021; Webpage Water and waste management

Nutrient Management in Feed Farming
15/100
Supplier Engagement in Nutrient Pollution Risks
0/4
Innovation to Improve Nutrient Management in Feed Farming
0.75/1
Source(s): Water and waste management; Webpage Fish feed; Webpage Fish feed and raw materials; Webpage Increasing production of kelp and mussel meal; Webpage Ocean Forest

Nutrient Management in Aquaculture
79/100
Disclosure of Pollution Risks in Animal Farming Operations
3.93/4.5
Performance on Pollution Management
0/0.5
Source(s): Seabed Management; Webpage Biodiversity; Webpage KPI's



Antibiotics

100/100

Policy on Antibiotics Use
100/100
Policy on Antibiotics Use
5/5
Source(s): Antibiotics; Policy: Use of medication; Webpage Antibiotics; Webpage Ocean Forest; Webpage Policy: Use of medication

Disclosure of Quantity of Antibiotics Used
100/100
Disclosure of Quantity of Antibiotics Used
5/5
Source(s): Annual Report 2022, page 36, 240; Webpage Antibiotics



Animal Welfare

72/100


Aquatic Animal Welfare
53/100
Welfare Policy
2/2.5
Reporting on Animal Welfare Metrics
0.66/2
Reporting on Measures to Improve Welfare
0/0.5
Source(s): Seabed Management; Webpage Biodiversity; Webpage Fish health and fish welfare

Disease Management - All Fish
90/100
Mortality Rates
3.5/3.5
Disease Outbreak
1/1.5
Source(s): Annual Report, page 234; Webpage Fish health and fish welfare; Webpage KPI's



Working Conditions

85/100

Human Rights
100/100
Strength of Policy
1/1
Due Diligence Process
3/3
Evidence of Remediation
1/1
Source(s): Annual Report 2022, page 19; People Webpage; Webpage Human Rights; Webpage Policies; Webpage Policy: Human rights

Fair Working Conditions
72/100
Policy for Direct Operations
1.6/3
Monitoring & Discosure
2/2
Source(s): Annual Report 2022, page 96; Leroy Code of Conuduct English Version; Policies; Webpage Our Certifications; Webpage Policy: Human rights; Webpage Whistleblowing

Safety & Turnover Data
90/100
Committee representation of workers
1.73/2
Disclosure of safety and turnover data
2.75/3
Source(s): Annual Report 2022, page 232, 233, 246; Webpage Occupational health and safety; Webpage Our Certifications; Webpage Policies

Freedom of Association
80/100
Strength of Policies
2.5/3
Disclosure of Collective Bargaining Metrics
1.5/2
Source(s): Annual Report 2022, page 232, 246; People Webpage; Policies; Webpage Fair Working Conditions; Webpage Policies; Webpage Policy: Human rights



Food Safety

90/100

Food Safety System
80/100
Certifications
2.5/3.5
Performance
1.5/1.5
Source(s): Webpage Group quality system; Webpage Supplier management; Webpage Traceability

Product Recalls & Market Bans
100/100
Product Recall Systems
3/3
Performance
2/2
Source(s): Webpage Market bans; Webpage Products



Sustainability Governance

71/100

Assessment of a Company's Sustainability Governance
71/100
Board Sustainability
1.75/2
Incentives & Policy Engagement
1.3/2.5
Innovation & Benchmarking
0.5/0.5
Source(s): 2022 Annual Report, page 54; Annual Report 2022, page 238; CDP Climate 2022; FILE 1 , page 54, 55; Webpage Climate; Webpage Governance About Leroy; Webpage Ocean Forest; Webpage Together for a cleaner ocean



Alternative Proteins

30/100

Diversification of Products to Alternative Protein Sources
30/100
Existing product portfolio
0.25/2.5
Investing for future growth
1.25/2.5
Source(s): Webpage Climate; Webpage Products

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