ESG indexes

Grieg Seafood aim to make it easy for investors and other stakeholders to follow our progress and hold us to account for our actions. We engage with third-party rating initiatives and indexes to better understand concerns and how we can report on these issues in a relevant way.

Carbon Disclosure Project (CDP) Climate

2021 result: A

Comment: Grieg Seafood has engaged with CDP Climate since 2018. Grieg Seafood has been on CDP’s A List (Leadership) in all four years of participation.

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Carbon Disclosure Project (CDP) Forests

2021 result: B (palm oil), B (soy)

Comment: Grieg Seafood has reported on CDP Forests since 2020.

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FAIRR Index - Coller Fairr Protein Producer Index

2021 result: 2nd place

Comment: Grieg Seafood is engaging with the index to better understand the concerns of our stakeholders and issues we should address in our reporting. In 2021, Grieg Seafood managed to improve it’s position substantially.

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Sustainalytics ESG Risk Rating

2021 result: 29.0 - Medium Risk (where 0 is best)

Comment: We have been actively engaging with Sustainalytics during 2021 and managed to achieve a significant improvement in our overall ESG Risk Rating, even though the industry’s general risk exposure has seen an increase. We are going to continue our dialogue with Sustainalytics to better understand the concerns and issues we should address in our reporting and to make sure our efforts are reflected in the ESG Risk Rating.

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MSCI ESG ratings

2021 result: AA

Comment: Grieg Seafood started looking into the ESG Ratings’ methodology and criteria in 2020 and improved our score during 2021 from A (average) to AA (leader).

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The Governance Group - EG 100 - the Oslo Stock Exchange

2021 result: A-

Comment: Grieg Seafood has been engaging with The Governance Group since 2019. In 2021, Grieg Seafood maintained an A score for “excellent reporting in line with best practice”.

GRI Global reporting initiative

2021 result: Audited

Comment: The Annual Report 2021 is the third annual report prepared in accordance with the GRI Standards. We will adopt the revised Universal Standards in 2022 and the Sector Standard for Agriculture, Aquaculture, and Fishing as soon as it is launched.

GSI Global salmon initiative

2021 result: Audited

Comment: We have reported to the GSI for several years. The GSI issues an annual sustainability report covering approximately 40% of the salmon farming industry.

NUES Norwegian code of practice for corporate governance

2021 result: In compliance

Comment: We adopted the Norwegian Code of Practice for Corporate Governance in 2007.

OECD guidelines for multinational enterprises

2021 result: -

Comment: We adhere to principles and standards for responsible business conduct.

OSE Oslo Stock Exchange

2021 result: -

Comment: We follow the Euronext guidance on ESG reporting.

TCFD Task force on climate-related financial disclosures

2021 result: -

Comment: Our third TCFD report has been published in connection with the Annual Report 2021. We have also performed climate-related scenario analysis.

TNFD Task force on nature-related financial disclosures

2021 result: -

Comment: Grieg Seafood has joined the TNFD as a Taskforce Member, alongside global financial institutions and businesses. As sea farmers, healthy oceans are at the heart of our operations, and understanding and addressing nature-related risks is important for us. The finalized framework is earmarked for release in late 2023.

EU Sustainable Finance Taxonomy

2021 result: n/a

Comment: From 2022, the EU taxonomy will provide a classification system for which economic activities can be considered environmentally sustainable. Aquaculture has not yet been included in the list of industries covered by the taxonomy, and there are no screening criteria available for any of our activities. We are constantly monitoring developments in this area.