collaborative investor engagement · 2021
FAIRR Initiative
FAIRR convened 61 investors with US$12.7 trillion in combined assets to press seven of the largest listed salmon producers to cut their reliance on fishmeal and fish oil derived from wild-caught fish, mitigate their wider biodiversity risks, and adopt novel alternative feed ingredients such as algal oil. The engagement ran from 2021 through Phase 3 in 2024/25.
What happened
Result: Complete after three phases. FAIRR found that the engaged salmon producers do not have a robust, long-term strategy to further reduce their reliance on wild-caught fish in feed, and that none of the seven has set a target to reduce the absolute amount of fish-based ingredients used, despite five disclosing production growth targets.
Disclosure improved over the course of the engagement: all seven companies now disclose the percentage of trimmings used in feed, against two doing so in 2020, though disclosure of absolute fishmeal and fish oil use remains more limited.
Who is involved
- FAIRR Initiative filer
- Multi X company
- Bakkafrost company
- Grieg Seafood company
- Lerøy Seafood Group company
- Mowi ASA company
- SalMar ASA company