Salmar ASA

SALM:NO NO0010310956
Key Information
HQ:
Norway
Market Cap:
$6.03bn
Primary Markets:
Europe & Russia, Asia, North America



Company Information

Company Summary

SalMar is one of the world's leading producers of Atlantic salmon and is integrated from broodstock, roe and smolt to value-added products (VAP) and sales. SalMar has significant farming operations in both central and northern Norway, as well as in Scotland through 50% ownership in Scottish Sea Farms and 34% in Arnarlax. SalMar also operates a comprehensive harvesting and VAP facility in central Norway at the company's headquarters at InnovaMar on Frøya and on Vikenco at Aukra. SalMar sells farmed salmon worldwide.
SalMar ASA

Revenue

Total revenue:

$1.8bn

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
YesNoNo

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
1.5°CTargets Set2022

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

62/100
Low Risk



Greenhouse Gas Emissions

82/100

Scope 1, 2 & 3 Target
75/100
Type of Target
0/0
Strength of Target - SBT
3.75/5
Source(s): Annual Report 2022, page 43, 44

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): Annual Report 2022, page 36, 37, 48, 49, 209; GRI Index 2022, page 1

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): Annual Report 2022, page 45, 47, 48, 63; GRI Index 2022, page 1; Salmar ASA - Climate Change 2022.pdf, page 3, 4, 55, 63, 65

Emissions Performance
100/100
Overall Emission Performance
5/5
Source(s): Annual Report 2022, page 45, 47, 49

Climate-related Scenario Analysis
55/100
Climate-related Scenarios Analysis Conducted
1/1
Disclosure of Analysis Results on Material Risks
1.75/3
Disclosure of Financial Material Events & Alignment of CAPEX
0/1
Source(s): Annual Report 2022, page 49; Salmar ASA - Climate Change 2022.pdf, page 14, 30; TCFD Report 2022, page 8, 9, 10, 17, 23



Deforestation & Biodiversity

71/100

Deforestation/Conversion-free Target - Soy for Animal Feed
80/100
Risk Assessment to Identify High-risk Locations
4/5
Source(s): Annual Report 2022, page 35, 36; Salmar ASA - Climate Change 2022.pdf, page 28

Engagement, Monitoring & Traceability - Soy for Animal Feed
75/100
Supplier Engagement
0.25/1.25
Compliance monitoring & Traceability
3.25/3.25
Feed Innovation
0.25/0.5
Source(s): Annual Report 2022, page 35, 36; Deforestation and responsible sourcing policy

Aquaculture Certification (ASC, BAP, GlobalGAP, SSP)
100/100
Proportion of Farms Certified
5/5
Source(s): ASC Certified Salmon Webpage; Annual Report 2022, page 25, 30

Feed Ingredients & Conversion Ratios
55/100
Feed Disclosure
2/2
Performance of Feed Metrics
0.75/3
Source(s): Annual Report 2022, page 30, 36; GRI Index 2022, page 1

Feed Innovation
30/100
Strategy
1.5/2.75
Performance
0/2.25
Source(s): Annual Report 2022, page 35, 36; TCFD Report 2022

Sea Lice Management - Salmon (Fish at Sea Only)
80/100
Sea Lice Disclosure & Management
2/2
Cleaner Fish
2/3
Source(s): Annual Report 2022, page 32, 33; Barents Watch Webpage

Ecosystem Impacts
80/100
Escapes
3.25/3.25
Reducing Biodiversity Impacts
0.75/1.25
Algal Blooms
0/0.5
Source(s): Annual Report 2022, page 30, 34, 53, 62



Water Use & Scarcity

6/100


Water Use & Scarcity in Feed Farming
6/100
Supplier Engagement in Water Use in Feed Farming
0.25/2.5
Disclosure of Water Risks in Feed Farming
0/1.5
Source(s): Annual Report 2022, page 51; Water Management Policy 2022, page 2



Waste & Pollution

40/100

Wastewater at Facilities
40/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
1.25/1.5
Transparency on Water Pollution Risks
0.25/2
Performance on Wastewater Quality & Volume Discharged
0.5/1.5
Source(s): Annual Report 2022, page 43, 50, 51, 52, 56; GRI Index 2022, page 1; Water Management Policy 2022, page 1

Nutrient Management in Feed Farming
19/100
Supplier Engagement in Nutrient Pollution Risks
0.25/4
Innovation to Improve Nutrient Management in Feed Farming
0.68/1
Source(s): Annual Report 2022, page 35, 36; Deforestation and responsible sourcing policy; Supply Chain Management Policy 2022

Nutrient Management in Aquaculture
60/100
Disclosure of Pollution Risks in Animal Farming Operations
3/4.5
Performance on Pollution Management
0/0.5
Source(s): Annual Report 2022, page 50, 52



Antibiotics

100/100

Policy on Antibiotics Use
100/100
Policy on Antibiotics Use
5/5
Source(s): Annual Report 2022, page 30, 32; Antibiotics Policy 2022

Disclosure of Quantity of Antibiotics Used
100/100
Disclosure of Quantity of Antibiotics Used
5/5
Source(s): Annual Report 2022, page 30, 63



Animal Welfare

44/100


Aquatic Animal Welfare
38/100
Welfare Policy
1.25/2.5
Reporting on Animal Welfare Metrics
0.63/2
Reporting on Measures to Improve Welfare
0/0.5
Source(s): Annual Report 2022, page 12, 21, 23, 30, 31, 32; Fish Welfare Policy; Humane/Ethical Killing Policy 2022

Disease Management - All Fish
50/100
Mortality Rates
2/3.5
Disease Outbreak
0.5/1.5
Source(s): Annual Report 2022, page 30, 32, 34, 37, 90, 141



Working Conditions

70/100

Human Rights
70/100
Strength of Policy
1/1
Due Diligence Process
2.5/3
Evidence of Remediation
0/1
Source(s): Annual Report 2022, page 26, 61; Ethical Guidelines Webpage; Human Rights Policy 2023, page 1, 2; Sustainability and Social Responsibility with HSE in focus Webpage

Fair Working Conditions
72/100
Policy for Direct Operations
2.1/3
Monitoring & Discosure
1.5/2
Source(s): Annual Report 2022, page 58, 60, 61; Ethical Guidelines Webpage; Human Rights Policy 2023; Supply Chain Management Policy 2022; Whistleblowing Policy 2022

Safety & Turnover Data
80/100
Committee representation of workers
1.5/2
Disclosure of safety and turnover data
2.5/3
Source(s): Annual Report 2022, page 56, 59, 60; Ethical Guidelines Webpage; Policy on Antibiotics

Freedom of Association
58/100
Strength of Policies
1.5/3
Disclosure of Collective Bargaining Metrics
1.38/2
Source(s): Annual Report 2022, page 57, 59, 61; Human Rights Policy 2023; Supply Chain Management Policy 2022



Food Safety

75/100

Food Safety System
60/100
Certifications
2.5/3.5
Performance
0.5/1.5
Source(s): Annual Report 2022, page 30, 36, 38, 39, 41, 54, 63; Food Safety Policy 2022

Product Recalls & Market Bans
90/100
Product Recall Systems
2.5/3
Performance
2/2
Source(s): Annual Report 2022, page 41, 84; Food Safety Policy 2022



Sustainability Governance

68/100

Assessment of a Company's Sustainability Governance
68/100
Board Sustainability
1.5/2
Incentives & Policy Engagement
1.4/2.5
Innovation & Benchmarking
0.5/0.5
Source(s): Annual Report 2022, page 8, 10, 16, 23, 24, 26, 34, 39, 50, 53, 59, 61, 70, 76; Salmar ASA - Climate Change 2022.pdf, page 6, 9, 87, 88



Alternative Proteins

0/100

Diversification of Products to Alternative Protein Sources
0/100
Existing product portfolio
0/2.5
Investing for future growth
0/2.5
Source(s):

Members-only supplement

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