Bakkafrost to halve greenhouse gas emissions by 2030

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Bakkafrost one of 12 Faroese companies to take the lead on climate action ahead of COP26.

On Tuesday, leading salmon producer Bakkafrost was among twelve Faroese companies to announce its participation in the Faroese Sustainable Business Initiative – Burðardygt Vinnulív. As part of this commitment, the company announced it would seek to halve its greenhouse gas emissions by 2030 in an effort to mitigate climate change.

Bakkafrost, Betri Bank, Effo, Faroe Ship, Føroya Tele, Gist & Vist, JT Electric, KJ Hydraulik, MBM, P/F Poul Michelsen, SMJ and Vónin, all committed to a reduction in their scope 1 and 2 CO2e emissions and announced they will be setting targets for their indirect scope 3 emissions in line with scientific recommendations, next year.

The companies will work together in the Burðardygt Vinnulív initiative for at least three years to develop a strategic approach to climate change, biodiversity and ocean health. These commitments mark the first stage of their plan.

Other commitments announced included ambitions to become net-positive in their impact on biodiversity in at least one area of potential material impact for the businesses.

Regin Jacobsen, CEO of founding company Bakkafrost said:

“We are pleased to be making this announcement today to show we are serious about making headway against these urgent issues affecting us all. We have come further in the first few months of this initiative than I think any of us would have expected and we are already starting to see meaningful collaboration opportunities between us. We are certain that working together will accelerate our progress on these issues.”