Policy for the climate and energy consumption

Purpose

Lerøy Seafood Group (Lerøy) has a goal to be the leading and most profitable global supplier of sustainable high-quality seafood. In order to achieve this goal, it is crucial to establish priorities and direction, and to clearly define what factors are strategically important for success.

This policy provides a brief and principal description of how Lerøy shall carry out responsible environmental and climate management for the company’s activities and our supplier's activities.

Lerøy is committed to the further development of targeted environmental work, thus helping solve global challenges involving the climate and environment. Lerøy shall send clear signals to the market that a climate-neutral low carbon economy by 2050 is an achievable and beneficial target.

Lerøy shall take active measures to identify new and innovative solutions to help cut the company’s greenhouse gas emission, to boost existing collaborations and find new partners to help us achieve our climate goals and develop a low-emissions society.

The company shall take action to prevent operations from inhibiting an optimally stable climate, by measuring, monitoring, reporting and reducing the company’s carbon footprint. Lerøy shall take comprehensive measures and shall commit to establishing climate goals for all operations throughout the value chain.

Lerøy's has established science-based targets with a view to achieving the climate goals in the Paris Agreement, and willingly accepts their responsibility for limiting global warming:

• The company is committed to a 46% reduction in emissions (Scope 1+2+3) by 2030, starting in 2019. (The 1.5 degree target)

Lerøy shall regularly map climate-related risk, carry out assessments and analyses to allow for decision-making and necessary adjustments.

Valid for

This policy applies to all employees. This policy also forms the basis for Lerøy’s expectations with regard to suppliers and partners.

Definitions

Scope 1 – All direct greenhouse gas emissions from use of fossil fuels for own operations.

Scope 2 – Indirect emissions from purchased electricity and district heating/cooling.

Scope 3 – Indirect emissions from input factors (purchased goods or services).

Paris Agreement 2015 – An international agreement to ensure that countries worldwide are able to limit climate change.

Science-Based Targets – Targets based on what research has shown to be necessary to reach the targets in the Paris Agreement. The targets must therefore help limit global warming to well below 2°C, and strive to limit global warming to 1.5°C.

Framework and principles

Lerøy is committed to complying with prevailing environmental regulations, guidelines and principles, defined in the following documents:

Greenhouse Gas (GHG) Protocol – The most commonly used and recognised international standard for calculating and reporting greenhouse gas emissions.

 ISO 14001: 2015 Environmental management systems – Requirements with guidance for use (ISO 14001:2015).

 ISO 14064:2018 Greenhouse gases – Part 1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals

Roles and responsibilities

• Lerøy’s top management is responsible for defining the company’s climate and environmental direction, and is responsible for the contents of this policy.
• All Lerøy employees within their areas of responsibility and disciplines are responsible for contributing towards achievement of the company's climate targets.
• The top management in each company is responsible for ensuring that the company has personnel with the competencies required to ensure compliance with local regulations.

Policy ownership and implementation

• The Head of ESG & Quality is the owner of this document, and is responsible for updates.
• The policy has been approved by the corporate management at Lerøy, and is presented to the Group's Board of Directors.
• The CEO of Lerøy Seafood Group has overall responsibility for the policy.