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CLIMATE CHANGE AND OUR CARBON FOOTPRINT

Climate change is affecting all businesses and Sealord is committed to playing its part. Our climate change response is grouped into two categories – mitigation and adaptation.

1. Mitigation – measuring and setting targets to reduce greenhouse gas emissions and our carbon footprint through changing our operational approach.

2. Adaptation – understanding and responding to climate risk by developing plans to adapt to extreme weather and rising sea temperatures.

Sealord is committed to disclosing our progress toward reducing our carbon footprint and is a member of the Aotearoa Circle and Nelson Businesses for Climate Action groups.

What are CO2e units?

A CO2e unit is the standard international measure for greenhouse gases. A CO2e unit bundles the different greenhouse gases into one common unit (carbon dioxide, or CO2).

The other gases, such as methane, are measured in terms of their equivalent CO2 global warming effect and included in the CO2e bundle. This provides a complete measure of greenhouse gas emissions than if we measured CO2 alone.

Reducing our carbon footprint

Since 2019, Sealord has measured its carbon footprint to better understand our effect on the environment. Most of our footprint (approximately 79 per cent) comes from the fuel that propels our vessels. We have several initiatives in place to reduce this footprint; these align with international science-based carbon reduction targets (the Paris Agreement).

We have two areas of focus.

Firstly, our New Zealand operations represent the largest proportion of our footprint with our vessels fishing around New Zealand and our two factories in Nelson. In New Zealand, our objectives are to reduce our Scope 1 and 2 emissions in line with international science-based targets that align with the Paris Accord. Our scope 3 emissions are largely (67%) sea freight based.

After analysis of shipping routes and carriers, Sealord has limited options to reduce these emissions. Our shipping partners need to introduce new propulsion technology onto vessels servicing routes to and from New Zealand. We have taken an active watching brief on these Scope 3 emissions and are encouraging shipping companies to consider new vessels into this region as they are built and put into service. This will be some years before this occurs to any scale.

Our second area of focus are our Australian businesses in Tasmania (Petuna) and Queensland (King Reef). These are aquaculture farms growing salmon and barramundi respectively. Petuna emissions will be added to the Sealord Group’s emission in 2022 as it will be included within the Operational boundary methodology we have selected.

With a significant proportion of these businesses’ emissions being Scope 3, with the use of fish feed on the farm, our focus is on total carbon emissions. As we are growing more fish, it is also appropriate that an intensity measure is considered as well (the amount of CO2e per kilogram of fish harvested). Our goal is that both measures should reduce over time.

Total reduction: 8,735 tonnes (7.3 per cent). 2019 serves as a baseline year.

NZ Operational Emissions

(tonnes CO2e)

In 2019, Sealord undertook to measure our carbon footprint as part of the sustainability policy. Our baseline emissions are detailed in the chart above as at the year ending September 30, 2019. These are broken down into Scope 1 94,016t CO2e, Scope 2 1,137t CO2e and Scope 3 18,819 tCO2e.

From this starting point we have developed programs to reduce this over time, in line with our commitment to address Climate Change.

In the year ending September 30, 2021, Sealord NZ achieved a reduction from 2019, of 9.0% of Scope 1 and 2 emissions to 86,587 tCO2e. Vessel fuel accounted for 93.9% of these emissions.

Since our baseline year, Sealord have removed just over 10,000t CO2e from our New Zealand operations in line with the international science-based targets. This equates removing to over 2,000 vehicles from our roads.

Our scope three emissions in New Zealand were 16,170 tCO2e of which freight was 67%.

The pie chart shows the total emissions sources by operational area.

(tonnes CO2e)

Australia Operational Emissions

In the baseline year ending September 30, 2019, Sealord Australian’s footprint carbon footprint was 5,933 tonnes CO2e (Scope 1 143 tCO2e, Scope 2 3,291 tCO2e, Scope 3 2,499 tCO2e). Scope 2 emissions are high as there is more fossil fuel being used to create electricity in Queensland than in New Zealand. Scope 3 emission are largely fish feed with 84% from this source. The baseline intensity measure was 6.6 kgCO2e per kilogram of fish harvested.

Our emissions in 2021 were a total of 8,358 tCO2e. Scope 3 emissions equated to 46.6% of these emissions and our intensity measure was 7.5 kgCO2e per kilograms of fish harvested. This represented an increase in the baseline with more fish being harvested in 2021 than in the base year.

In 2022, our salmon farm emissions will also be included into these figures. Science based targets will then be established for the Australian businesses.

Pie chart Australia Emissions by Operational Category (tonnes CO2e)

Total Sealord Group

Sealord Group’s baseline emissions in the year ended Sept 30, 2019 were 120,090 tCO2e. New Zealand operations were 94.9% of this footprint.

In 2021, the total emissions were 111,356 tCO2e and New Zealand was the dominant source with 92.3% of emissions. The reduction of 8,743 tCO2e represents a 7.3% lowering of emissions.

In 2022, total Sealord Group emissions are forecast to grow with the addition of the salmon business in Australia. This will require an assessment of the science based targets.

Pie chart total Sealord Group Emissions by Scope (tCO2e)

Science Based Targets

Sealord have established international science-based targets for the New Zealand operations from the 2019 baseline. These are designed to meet the requirements of maintaining global temperatures to a maximum of +1.5 degrees above pre-industrial temperatures. This is in line with the more aggressive guidelines established in the Paris Agreement (versus a +3.0 degree scenario). These targets deliver a carbon net zero position in 2050.

The graphs below represent the carbon reduction each year since the 2019 baseline. In 2020, Sealord missed the science based target but remain cumulatively ahead

2588

Tonnes CO2e removed 2020

4552

Tonnes CO2e removed 2021

7139

Total tonnes CO2e removed since 2019

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