Australian fish feed company BioMar announced several milestones in its 2024 sustainability report including a significant reduction in the amount of forage fish–fish usually preyed on by larger fish–in its feed. The company said it reached an all-time low ratio of 0.37 by using alternative ingredients and trimmings, which now represent 55% of the total marine ingredients.
However, the company reported that the ever-changing market conditions for raw materials might make it challenging to sustain this position over time. In 2024, BioMar’s innovation pipeline assessed a record number of alternative raw materials and almost 1 million tons of aquafeed containing microalgae were produced. This represents around 70% of BioMar’s total aquafeed volume.
“We have had an impressive sustainability year” said Carlos Diaz, CEO, BioMar Group. “Proving that being sustainable is not only the right thing to do but also makes good business sense. Our early investment in innovation and raw material development is paying off, and we will likely see an escalation in the production of alternative materials in the coming years.”
BioMar said its has reduced total feed carbon footprint by 14.4% from its 2020 baseline and is on track to meeting its 2030 goals of reducing its total feed carbon footprint by one third. This is a relative target that uses life cycle assessment to measure carbon emissions per tonne of feed produced. Regarding absolute emissions reduction, BioMar was the first aquafeed company to sign up for the SBTi 1.5°C trajectory.
“We continue to deliver good results on our SBTi carbon reduction targets. This year we have achieved a 20.6% reduction in Scope 1 and 2 emissions and a 23.6% reduction in Scope 3 emissions from the baselines,” said Vidar Gundersen, Global Sustainability Director, BioMar Group.
The company also implemented new human rights policies in parental leave, health and safety, and supply chain compliance and the target for 2030 of 100% Living Wage reached 99.9% this year.
