GlobalData offers a comprehensive analysis of BioMar Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on BioMar Group‘s ESG performance. GlobalData’s company profile on BioMar Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
BioMar Group, a global leader in sustainable aquaculture feed, has set company-wide emissions targets in line with climate science to ensure they are net zero within their own operations by 2050. In addition, the company plans to achieve carbon neutrality for Scope 1 & 2 within its own operations by 2045 from a 2020 base year. BioMar has set verifiable science-based targets through the Science Based Targets initiative (SBTi). It has been validated for the GHG emissions reduction targets following the 1.5°C pathway, and its sustainability report shows that the company's average carbon footprint was 2.08 tonnes of CO2 equivalents per tonne of feed produced in 2022, down approximately 5.5% from its 2020 baseline. BioMar Group's latest filings mentioned the keywords 'Emissions' and 'Carbon Footprints' most number of times in relation to 'Net Zero'.
The company has taken steps to reduce its carbon footprint by decarbonising its electricity sources at the factory level, implementing low-emission boiler technologies, and working with key suppliers to cut raw material emissions. In 2022, the company reported its location-based and market-based emissions at 84,477 mtCO₂e and 66,918 mtCO₂e, respectively. BioMar Group commits to reduce absolute scope 3 GHG emissions from purchased goods and services by 30% within 2030 from a 2021 base year.
BioMar Group considers raw materials originating from byproducts and waste streams to be circular. As a result, the company aims to reduce its total feed greenhouse gas (GHG) footprint by 1/3 by 2030. The company has partnered with local communities to enable people to take climate action and restore the planet in line with its purpose and 2030 ambitions. BioMar Group's sustainability experts use science-based methods, such as life cycle analysis, to calculate the carbon footprint of raw materials with great precision. The company's sustainability strategy is to maximise its resource use by adopting responsible consumption policies that minimise waste and carbon emissions while optimising recycling.
In conclusion, BioMar Group aims to achieve net zero within their own operations by 2050, with plans to attain carbon neutrality for Scope 1 & 2 by 2045. It has set verifiable science-based targets and taken various steps to reduce their carbon footprint, focusing on renewable energy, low-emission technologies, and collaboration with suppliers. Additionally, the company emphasizes circularity in raw materials, aiming to reduce the total feed greenhouse gas footprint by 1/3 by 2030, while actively engaging with local communities to drive climate action and restoration efforts in line with their sustainability strategy.