- Financials
BioMar raises expectations for 2023
BioMar is coming out of the third quarter with a 5% increase in volumes year-on-year. The increase in volumes, combined with a strong product…
BioMar has published its Climate Transition Plan, outlining the company's roadmap to reduce greenhouse gas emissions across its operations and supply chain towards 2030. The plan has undergone independent third-party limited assurance, providing an additional level of transparency around BioMar's climate commitments, progress and planned actions.
The plan brings together BioMar's science-based emissions reduction targets, decarbonisation initiatives, climate-related risks and governance processes in one public document. It sets out how the company intends to continue reducing emissions through energy efficiency, renewable energy, feed formulation, responsible sourcing and collaboration with suppliers.
BioMar has committed to reducing absolute Scope 1 and 2 emissions by 42% by 2030 compared with 2020, alongside a 30% reduction in targeted Scope 3 emissions from a 2021 baseline. Both near-term targets have been validated by the Science Based Targets initiative (SBTi).
By the end of 2025, BioMar had already achieved a 22% absolute reduction in Scope 1 and 2 emissions and a 31% reduction in the Scope 3 emissions covered by its target, compared with their respective baseline years. The plan also identifies the further actions needed to maintain progress as the business develops.
"Climate action needs to go beyond setting targets. We need a clear plan for how we intend to achieve them, and we need to be transparent about both our progress and the challenges ahead," says Carlos Diaz, CEO of BioMar Group. "With this Climate Transition Plan, we are showing how climate considerations are part of the decisions we make every day, from sourcing and feed formulation to investments and partnerships. Having the plan independently assured adds another level of credibility to the commitments we have made."
With a significant share of BioMar's climate impact linked to the raw materials used in aquafeed, the plan places particular emphasis on sourcing decisions, feed formulation and supplier engagement. BioMar's lifecycle assessment tools and Blue IMPACT feed solutions are among the mechanisms supporting the transition towards lower-emission aquafeed.
The Climate Transition Plan is publicly available and will serve as a reference for tracking BioMar's progress, identifying remaining challenges and communicating its climate strategy to customers, investors and other stakeholders.
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