Multi X

The company does not have a science-based emission reduction target.

The company aims to reduce its carbon footprint by 20% by 2025 and be carbon neutral by 2030. It explicitly discloses its new objective to reduce the intensity of its carbon footprint by 20% (tCO2e/t Edible meat), corresponding to Scope 1 and 2 by 2025 for 100% of the emissions currently considered in the company's Scope 1 and 2. It included the emissions from transporting finished products within its Scope 3 emissions calculations. However, it does not provide information detailing Scope 3 emission reduction targets.

The company does not report engaging with suppliers to reduce emissions from agriculture.

The company has launched a pilot feeding plan with feed suppliers to include insect protein in fish diets, which can help reduce carbon footprint.

The company reports efforts to reduce emissions from animal farming through a hatchery energy transition, efficiencies of consumption, and refrigerant mitigations up to 2030. It has designed carbon neutrality, and it is being implemented in phases in the next few years

The company reports Scope 1 emissions to be 65,995 (tCO2e), Scope 2 emissions as 7,269 (tCO2e) and Scope 3 emissions as 370,178 (tCO2e) in 2022.

The company owns fish farms, and thus, the emissions from animal farming are included in Scope 1 emissions, which the company breaks down by areas, namely seawater, processing, hatcheries and administration. It discloses its Scope 3 emissions and states that emissions from feed make up 68.6%. It discloses Scope 3 emissions, including land use of raw materials. However, it does not disclose emissions associated with land-use change, which refers to deforestation and land conversion emissions.

The company has been requested to respond to the 2023 CDP Climate Change questionnaire. It discloses that Deloitte audits the complete Scope 1, 2 and 3 emission data.

The company's emissions have increased by 9.0% per location-based and 9.3% per market-based assessment from 2021 to 2022. The company's location/market-based Scope 3 emissions were 370,178 tCO2e in 2022, an 8% increase compared to 2021. The company's Scope 3 emissions calculation widened in 2022 to include other Scope 3 emissions, including better data on raw materials' emissions, resulting in a higher contribution from feed to the company's Scope 3 emissions.

The company does not disclose information on a climate-related scenario analysis.

The company mentions that extreme temperature events could affect the availability of animal feed ingredients (soy and other plant-based proteins), increasing the cost from agricultural sources. However, it does not mention the mitigation plan on it. It says the impact of rising sea temperatures caused by global warming, including increased fish mortality directly and indirectly through algal blooms. The company's mitigation measure in the event of an algal colour is specified in its toxic algal bloom protocol. It includes operative actions from food suspension to the transferring of fish.

The company does not disclose its commitment to align capital expenditures with its GHG targets.

Soy protein accounts for 8.1%, and soy oil accounts for 3% of the total feed composition of the company. The company also discloses that soy is procured from countries like Brazil, Argentina and Paraguay. It has a target to source soy from 100% of certified sources by 2023, which it states has been achieved in the current reporting period - FY2022. The company mentions that 100% soy is procured from RTRS and/or ProTerra-certified sources. However, it does not explicitly mention all the suppliers which it sources soy from.

The company had a target to source 100% certified soy by 2023 which was achieved in FY2022. The company sources 100% of its soy from Proterra and RTRS.

The commitment applies to all sourcing regionsand to all suppliers.

The company sources 100% of its soy from Proterra and/or RTRS.

In the Supplier Terms and Conditions, the company expects suppliers to commit to caring for the environment and promoting sustainable production systems. Each supplier must operate to minimise negative impacts on the environment and comply with legislation and regulations. Also, within its Sustainable Feed Policy, the company states that it will promote vegetable raw materials in its salmon diets that come from deforestation-free suppliers. It should be noted that its feed policy is in place in addition to the supplier code of conduct. Mulit-X states that it will promote good social and environmental practices of its vegetable raw materials suppliers with its feed suppliers. However, it does not provide further detail regarding the support it provides.

The company states that 100% of its soy is certified; hence, compliance is monitored. It does not disclose information on soy traceability to sub-national regions. It merely states that in collaboration with its salmon feed suppliers, it identified Argentina, Brazil, and Paraguay as countries of origin.

The company initiated an innovative feed project in 2021 to test insect meals. It mentioned that through this project, the company became the first salmon farmer in Chile to use this type of feed made from insect protein, which allows progress towards the availability of alternatives from other widely used sources of nutrients, such as fishmeal.

The company reports that 100% of its farms have BAP certification. Additionally, 34% of its farms were ASC certified in the reporting period. Certifications are disclosed at farm level.

The company discloses its feed ingredients by percentage, broken down into categories but not disaggregated by species. The company states that all sourced soy is certified by Pro-Terra or RTRS. It also states that 93% of fish meal and 61% of fish oil are certified by MarinTrust, and 15% of fishmeal and 7.4% of fish oil are certified by MSC. In addition, the company discloses its FFDRo and FFDRm.

The company reports a downward trend in FCR of Atlantic salmon, from 1.10 in 2021 to 1.07 in 2022. The FFDRm figures showed a reduction from 2018 to 2022. However, the company discloses an increase in FFDRo over three reporting periods with no explanation is offered.

The company implemented a pilot fish feed plan with a percentage of insect meal inclusion with BioMar and Food 4 the Future (F4F) in 2021. In 2022, the company reported it continued to carry out tests and instead focused on alternative products of vegetable origin. However, although the company is working to develop alternative feed ingredients, the company does not disclose a clear strategy to increase the use of alternative feed ingredients over a sustained period. In regard to marine ingredients, the company discloses an increase in the usage of trimming fish oil but does not disclose it is strategy for increasing the responsible use of trimmings.

The company states it has $45,507 on the development of alternative ingredients in the reporting period. However, it does not set a quantitative target for the inclusion of alternative ingredients in its feed basket. The company discloses that its salmon contains 0.84 g/100g of EPA + DHA content.

The company discloses the average sea lice count for Atlantic salmon across all regions for the year 2022 only. On the GSI Website, the historic sea lice count is reported from 2013 to 2021. The company received seven notifications concerning regulatory sea lice limits in 2022.

The company mentions using non-medicinal methods for preventing sea lice infestation. However, detailed information is not disclosed.

The company reports zero escapes in 2022. Also, the GSI website shows that the company did not register any incidents related to fish escapes from 2013 to 2021. The company discusses preventive measures, such as regular net maintenance using robotics, additional operational controls to ensure policies and standards of safety are kept, and employee training to reduce fish escapes. The company discloses a commitment to have zero escape occurrences at its facilities, but this target is not timebound.

The company has an Environmental Conservation Plan to protect the biodiversity of the regions in which it operates. It uses underwater cameras to avoid feed loss on the seabed and works towards keeping it free of inorganic debris. The company is also involved in projects with the Center for Research in Patagonian Ecosystems (CIEP) for biodiversity protection and development. However, the company does not disclose a time-bound target to end human-wildlife contact in its operations.

The company discussed algal bloom risk, its impact, and mitigation action in 2022. It has published its management plan that it will follow in the event of an algal bloom. The plan gives extensive insight into the procedure followed by the company to establish actions taken in the event of an emergency caused by the presence of harmful algae to control or mitigate its impact.

The company reports its indirect water footprint, which includes feed sourced. However, the company does not mention water in its sustainable feed policy, nor does it discuss water scarcity in relation to its feed supply chain.

The company discloses its indirect water footprint for its feed supply in the last reporting year. The company also discloses consuming 118,025 tons of feed across its fresh and seawater operations. Therefore, the company's feed water intensity equates to 492.86 m3/ton (0.493 m3/kg). The company not discuss whether it sources feed from water-stressed areas.

The company discloses on the Global Salmon Initiative website it had one incidence of environmental non-compliance in 2022.

The company also discloses that it measures various water quality parameters such as pH, dissolved oxygen, and organic matter. However, the company does not report the quality of wastewater discharged. It discloses its water footprint for greywater in its hatcheries and processing operations. However, it is unclear what the original volume of wastewater that the company produces and discharges is.

The company mentions it turns waste from processing facilities into compost. It has reduced its greywater footprint in 2022. The company does not disclose the total volume of wastewater discharged.

The company does not disclose information regarding the requirement of nutrient management plans for feed suppliers.

The company is undertaking a pilot trial involving feed which includes a proportion of insect meal. However, the aim of the trial does not seem to relate to improved nutrient management in feed farming.

The company supports the technological transformation process, acquiring licenses for the "NewDepomod" software developed by the Scottish Association for Marine Science (SAMS) and the Dunsta Finance Marine Laboratory. These allow for the modelling of culture conditions and configurations to have the necessary information to minimise the deposition of particles on the seabed and/or organic matter, estimating both total solids and organic carbon loads at a local scale. In the Sustainability Report 2021, the company mentioned that the seabed in all its farming sites is free of inorganic waste. It strives to keep the seabed at all farming centres free of inorganic waste by conducting rigorous and systematic inspections using different vessels and services. However, the company does not disclose any information in the current reporting period.

In 2021, the company launched the "Multi X Citizen programme" to promote sustainability in its operations and involve the surrounding communities. The company also commits to searching for opportunities with communities to collaborate on the company's environmental and social impact. However, it does not discuss the engagement plan concerning nutrient management and environmental impact.

The company commits to a standalone antibiotics policy, specifically restricting the use of antibiotics to disease-related situations, guided by veterinary prescriptions. It exclusively utilises Florfenicol and Oxytetracycline, avoiding the use of antibiotics that are classified as critically important by the WHO. Furthermore, it has set a target to reduce antibiotic usage by 60% by 2025, benchmarked against 2013 levels. To achieve this, the company has instituted several measures such as the introduction of probiotics and vaccines, enhancement of smolt quality and screening, and the promotion of functional diets.

The company reports a reduction in antibiotic use from 402g per tonne in 2021 to 322g per tonne in 2022 for Atlantic Salmon and confirms that its data has been audited by Control Union. In the same year, it used only two types of medically important antimicrobials: oxytetracycline and florfenicol. However, the company acknowledges that bacterial diseases such as SRS (Salmon Rickettsial Syndrome) and BKD (Bacterial Kidney Disease) have not been fully controlled through vaccinations.

The company discloses it recognises the "Five Freedoms" proposed by the Worldwide Agriculture Welfare Council. The company states it monitors fish health to guarantee freedom from disease and pain, protects the thermal and physical comfort of its fish, and has strict fish handling protocols designed to reduce stress. However, details of its handling policy are not disclosed. The company states that all fish are stunned with humane methods but does not disclose the techniques used.

The company mentions that the stocking density of salmon should not be greater than 17 kg/m3. However, it does not provide a commitment to always ensure a stocking density lower than this figure. The company monitors and discloses metrics on appropriate stocking densities, the number of fish at sea with injuries or wounds and the oxygen supply throughout transportation.

The company does not disclose information in relation to the eye-stalk ablation of shrimps.

The company discloses that in 2022, the mortality rate of Atlantic Salmon at sea was 4.72% and in freshwater was 25.78%. No information for Coho Salmon is reported for FY2022. The company reports the incidents caused by bacterial wounds, viruses and parasites among other causes, by the number of fish and tonnes of fish. The company sets a target mortality rate of below 8% in seawater and 30%, meaning it has achieved its target to reduce mortality rates for freshwater and seawater operations.

The company discloses the main reasons for mortality in seawater and freshwater for this reporting period only. It also reports the number of fish lost due to infectious and non-infectious diseases. The company installed high-resolution cameras for monitoring the health condition of fish and has vaccination strategies. It also uses functional diets focused on improving the fish's immune systems, directing its efforts to disease prevention. Additionally, it provides non-medicinal treatment, such as freshwater baths for all fish.

The company commits in writing to respect all the human rights recognised in the Universal Declaration of Human Rights.

The company initiated its first human rights due diligence in FY2021 and implemented mitigation measures based on this process in FY2022. The company mentions that the due diligence process involved several aspects, such as assessing impacts across severity and likelihood, assessing the groups most at risk in-depth, and evaluating management systems. That said, the company does not disclose how it continuously monitors human risks or its approach to identifying the next steps for action if a risk is identified. To mitigate risk, the company provides all its employees with training on its human rights policy and ensures that internal regulations are consistent with the policy guidelines. Further, in 2022, the company translated its human rights policy into English to ensure all stakeholders can follow it.

The company discloses several risks found through its human rights due diligence process, including sexual harassment, discrimination, and interference with unionisation. Furthermore, the company states it identified several human rights risks which required remediation in FY2022. It provided remediation for one identified human rights violation through a formal warning and training for an employee who was found to be engaging in inappropriate behaviour related to discrimination and abuse. However, the company does not provide details of remediating actions for other risks or details of the locations where these risks were identified.

The company commits in writing to prohibit child labour, forced labour, harassment and discrimination. Furthermore, an extensive remuneration study and analysis conducted by the company in collaboration with a third party has determined that all its employees receive a salary greater than the current cost of living, thus promoting fair wages. That said, the company does not explicitly mention if it conducts audits on its direct operations covering the policy commitments. The company also expects its suppliers to prohibit child labour, forced labour, harassment and discrimination. However, the company does not promote fair wages in its supply chain or disclose a policy on paid sick leave.

The company does not mention if it undergoes regular supply chain audits that cover the policies of child labour, forced labour, harassment and discrimination. The company provides channels for employees and suppliers to report anonymous complaints. However, whether these mechanisms were designed in consultation with stakeholders is still being determined. The company discloses that four grievances were reported in 2022 relating to mistreatment. Three cases related to direct violations of the Code of Ethics were also reported. However, the company does not explicitly categorise them by breaches of workers' rights or health and safety.

The company commits in writing to provide its workers with a safe work environment. The company also discloses that it achieved compliance with the work programs that focused on the critical activities of each of its operations under the ISO 45001 standard. Furthermore, it has established various committees implementing training and preventative measures to reduce health and safety risks. However, it does not discuss the number of its facilities/sites with a health and safety committee with worker representatives.

The company reports that the employee lost time injury frequency rate (LTIFR) during 2022 was 13.03, demonstrating a year-on-year improvement compared to the LTIFR of 15.27 reported in 2021. In addition, the company mentions that its total number of fatalities has remained zero. The company also discloses a real voluntary turnover rate of 10.9% (women) and 11.3% (men) and provides a breakdown of the turnover rate by seniority level.

The company aims to guarantee the rights of its workers to associate and collectively bargain freely and expects suppliers to do the same. It discloses that 55% of its employees are represented by a union or covered by a federation. To support its workers' rights, the company provides representatives of employees with facilities to help the development of collective agreements. However, the company does not explain what these facilities are.

The company discloses that collective bargaining agreements cover 55% of workers. In addition, the company disclosed that it had 2,246 workers on permanent contracts and 340 on fixed-term contracts in FY2022. However, there does not be a breakdown of full-time versus part-time employees.

The company discloses that 100% of its finished products are certified under Food Safety and Chain of Custody standards. It also discloses that its facilities have GFSI certifications, including GlobalGAP, BRCGS and BAP. It reveals that 100% of its harvest had BAP certification. However, the certification was valid until 07 January 2023. It expects suppliers of critical products to have some type of GFSI certification and reports that 61% of these suppliers maintain GFSI certification, such as BAP. However, the percentage of third-party plants comprising the company's total suppliers cannot be estimated. It is inferred that less than two-thirds of suppliers are GFSI-certified in total.

The company discloses that food safety certification systems, such as BRC and BAP, have audit processes evaluated with a certain frequency, depending on the criticality of the regulatory item and the risk matrix. Both internal and external audits by qualified auditors are carried out. It discloses annually the total audited percentage of Whole Fish Equivalent (tonnes) processed in its own plants and third-party plants. Therefore, it is assumed that food safety audits are conducted on at least an annual basis. Further, it discloses 249 corrective actions in the reporting year and 163 favourably resolved non-conformities. The GSI website mentions developing consumer-facing blockchain technology accessible via QR codes. However, it remains unclear if the technology has been implemented, as no follow-up is provided in the current reporting period.

The company published its recall mechanism in 2020 and extensively discussed various stages of the product recall procedure. As part of the procedure, the company has established a recall committee, developed a traceability system to determine the product's location, established and implemented corrective action plans, and conducts an annual evaluation process. It had zero recalls in 2022.

Additionally, it also discloses that it had zero market bans in 2022.

The company reports that the board of directors takes overall accountability and oversight of all sustainability and ESG-related risks and opportunities. In addition, the company has conducted a materiality assessment and identified 21 issues that are most material to the company. The problems include preventing fish escapes, responsible and cost-efficient sea lice management, responsible use of medicines and chemicals, efficient and sustainable fish feed, climate-friendly food production, ensuring fish health and welfare, and accountable (plastic) waste management. The board has final approval of the assessment. The company has board-level expertise in sustainability, food safety and innovation.

The company does not explicitly disclose whether executive variable remunerations are linked with sustainability performance. The company collaborated with multiple associations on ESG issues, explicitly mentioning fish welfare and employee working conditions. However, whilst the company notes that it works with several organisations to minimise its environmental footprint and improve social contribution, it does not explicitly say that it engages these organisations on climate change, pollution, antibiotics, ESG disclosure, or alternative proteins. That said, the company provides details on trade association memberships and discloses that it is committed to establishing and maintaining a robust management system that ensures its policy engagement activities are aligned with the goals of the Paris Agreement.

In 2021, the company started the Multi-Xplora program, which aims to identify areas for innovation throughout the company's value chain, with sustainability being a central theme of the program. This program has continued into 2022 and is driven by upper management but receives contributions from employees at all levels. It has implemented innovative projects such as the Salto Grande pontoon designed to support the work of the aquaculture centres with innovations that impact various areas of production, sustainability, and habitability. The company states that another milestone in the innovation area was the opening of the new 'Remote Feeding Room', which seeks to enhance the feeding process through innovative technology. In addition, the company benchmarks its performance against peers through the Dow Jones Sustainability Index and the Coller FAIRR Protein Producer Index.

The company does not explicitly acknowledge that protein diversification is a material business issue. Further, it has not yet set a timebound target to diversify protein sources, nor does not report revenue/sales linked to alternative protein sources

The company does not indicate having an approach towards diversifying its product range to include plant-based and alternative proteins.