Leader in sustainable aquaculture
Bakkafrost, established in 1968, is the leading producer of top-quality salmon from the Faroe Islands. The company offers a wide range of healthy and nutritious salmon products from its own facilities. The company is the eighth-largest fish farming company in the world. The company has a fully integrated business model and is involved in the farming of salmon, packaging, as well as the production of fish oil, fishmeal, and fish feed. The company operates farming sites, hatcheries, and farming service vessels (FSV) and employs 1,104 people across 24 municipalities in the Faroe Islands.
Impact investment rationale
- The company is a leader in sustainable aquaculture: the company is committed to have all its sites ASC certified, which is a reliable and the best sustainabiltiy standard for the aquaculture industry.
- Bakkafrost is the only salmon farming company in the world that produces its salmon with fish oil, cleaned for environmental pollutants. The planned full ASC certification should lead to a price premium as the supply of ASC salmon will be quite limited in the near future.
- Bakkafrost is founding member of GSI: The Global Salmon Initiative (GSI) is a leadership initiative established by leading farmed salmon CEOs from around the world who share a vision of providing a healthy and sustainable source of protein to feed a growing population, while minimizing their environmental footprint, and continuing to improve their social contribution.
- The company safeguards animal welfare and sources GM-free agricultural ingredients for its own feed production.
Bakkafrost contributes to the following UN Sustainable Development Goal:
Sustainable Food and Agriculture
Sustainable food and agriculture refers to an agricultural system that can meet societies food and other agricultural product needs in the present without comprising the ability of future generations to meet their own needs. As with conventional farming soil management, crop management, water management, disease/pest management and waste management are the key components. However, the methods used are radically different; they must be ecologically and socially sustainable.
We invest in companies that preserve soil, water systems, nature and biodiversity, and those that promote sustainable food and healthy diets.
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