Corporate governance
Grieg Seafood believes that strong corporate governance is an essential element in achieving our overall objectives and acting as a responsible organization.

Corporate responsibility

Our vision “Rooted in nature – farming the ocean for a better future” demonstrates the commitment to corporate responsibility by operating profitably and sustainably in a manner that conforms with fundamental ethical norms and respect for the individual, the society and the environment.

The Board of Directors is committed to sound corporate governance, and our governance structure helps enable the Board to fulfill its fiduciary duties to our shareholders and helps ensure our long-term success.

The Board and management annually review Grieg Seafood Group’s principles and code of practice for corporate governance. The Company abides by the Norwegian Code of Practice for Corporate Governance as recommended by the Norwegian Corporate Governance Board (NUES) on 17 October 2018. The Grieg Seafood Group follows NUES’s latest recommendations and has updated its existing rules and defined values in accordance with changes to the Norwegian Code of Practice published in 2021.

Grieg Seafood´s principles for corporate responsibility is based on standards and guidelines such as the Euronext guidance on ESG reporting, OECD guidelines for multinational enterprises, the Global Reporting Initiative (GRI), the Global Salmon Initiative (GSI) and the Task Force on Climate-related Financial Disclosures (TCFD).

Corporate governance

Operating with integrity

Our corporate governance is the basis for the practical work of the governing bodies of Grieg Seafood and underpins shareholders confidence in Grieg Seafood.

Group policies

Our materiality assessment informs us about our Environmental, Social and Governance risks and opportunities. All areas identified as material, as well as many significant ones, are covered by Group policies and are under the oversight of the Board. Find an overview of our pillars, targets and Group policies here. You can also learn more about our principles and how we work to improve in different areas on our global website. The materiality assessment is reviewed annually and the last revision took place in 2021. A range of stakeholder input, spanning customers, civil society, local communities and politicians, investors (including ESG assessment bodies like Coller FAIRR’s Index, CDP and Sustainalytics) and employees, inform the assessment.

Risk management

In pursuit of our vision, we will face risks to our business strategy, operational risks, and risks associated with nature, climate and the protection of our employees, other assets, and reputation.

The Board exercises oversight of strategic, operational and financial matters, including the elements and dimensions of our major risks. The Board of Directors holds the CEO and the group management team accountable for following its strategies, maintaining a high standard of ethical and responsible business conduct, taking care of our employees and safeguarding human rights, and for assessing risks related to climate change and the environment. Day-to-day risk implementation and assessment are a line management responsibility. This means that corporate social responsibility is an integral component of all our operations, for all management teams, units, and departments. . As a part of our improvement initiatives, additional risk assessments in various areas will be conducted. For instance, we will look at how the availability of feed ingredients used (including marine ingredients and soy) will in the coming years impact production.

Read our Risk overview here

Our quarterly report also provides a summary our quarterly risk assessment.

​Read our TCFD report and climate related scenario analysis here

Internal control

Our processes, routines, reports, measurements and systems will help us to achieve our objectives and to enforce compliance. As salmon farming is a highly regulated industry, we are subject to strict standards for fish welfare, environmental impact, food production and production equipment. We must also comply with operational requirements related to the use of medicines and chemicals, biomass levels, sea lice levels, density and water quality, amongst others. We report regularly to authorities, for instance, on biomass levels, sea lice levels, disease outbreaks and mortality for salmon and cleaner fish. We are also subject to regular inspections and audited from local, national and international stakeholder groups and authorities.

Annual General Meeting

Grieg Seafood will arrange for its shareholders to be able to exercise their shareholder rights at the Annual General Meeting, which ranks at the top of our corporate governance structure. All our shareholders are entitled to submit items to the annual meeting's agenda, to meet, speak and vote.

Event Subject
Date - time
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Annual General Meeting
Jun 9, 2022 - 8:00
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Extraordinary general meeting
Nov 4, 2021 - 9:00
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Ekstraordinær generalforsamling
Nov 4, 2021 - 9:00
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