Sustainability in Everything We Do
CSRD Reference
E5 - Circular Economy
As a sustainable and responsible aquaculture producer, SalMar is committed to minimizing waste and maximizing resource efficiency across all operations. This policy outlines SalMar’s approach to responsible waste management, grounded in the principles of circular economy and continuous improvement.
The Group’s goal is to reduce the amount of waste generated and ensure that any waste produced is handled in the best possible way. By improving waste management and finding new ways to reuse materials, SalMar aims to create value from waste and support a more circular economy.
SalMar’s Circular Economy Policy applies across all business areas. Suppliers, business partners and third parties engaged in activities with or for SalMar are required to adhere to the principles of SalMar’s policies.
The Board of Directors holds ultimate responsibility for the company’s circular economy strategy, ensuring that circular economy considerations are embedded in the overall strategy, risk management, and decision-making processes. SalMar’s sustainability strategy is integrated across the organization, under the leadership of the CEO and the executive management team, supported by the Head of Sustainability. The sustainability team, under the leadership of the Head of Sustainability, works in close collaboration with management teams across all departments and operational regions. The Head of Sustainability reports to the Chief Strategy Officer (CSO), who is a member of the executive management team.
SalMar continuously monitors circular economy initiatives and waste management performance, with progress reported annually in the company’s sustainability disclosures. Key indicators include the share of local processing, utilization of by-products in feed, and partnerships for biological waste utilization.
The following sections outline the Group’s most material impacts, risks and opportunities, along with strategic targets established.
Production of fish oil and meal from offcuts | Resource utilizations at smolt & processing facilities
SalMar’s circular initiatives generate positive impacts by improving resource utilisation across processing facilities and smolt production sites. Byproducts from harvesting and processing, such as offcuts and offal, are converted into feed ingredients and other valueadding products. Sludge and silage from smolt production are delivered to biogas and fertiliser industries, reinforcing circular economy principles and reducing the need for virgin raw materials.
Use of polystyrene (EPS) boxes
The use of polystyrene (EPS) boxes is considered a negative impact related to circular economy practices within SalMar’s operations. Recycling rates vary across markets and reliable channels are not consistently available once packaging leaves SalMar’s control. Additionally, some operational waste is not yet fully utilized, limiting circularity.
Producing waste in own operations
SalMar generates waste in its own operations, some of which is still classified as general waste and not suitable for highervalue recovery. These waste streams are considered a negative impact in relation to circular economy performance and highlight areas for further improvement.
Design requirements driving material costs | Regulations related to recycling and reuse
Design requirements for circular materials may increase production costs, and evolving regulations related to recycling and reuse could pose compliance costs. Potential EU regulations on circular material design and usage are flagged as a financial risk, as they could increase material costs for SalMar. The company is actively monitoring these developments to ensure preparedness and compliance.
Extending partnerships
SalMar sees strong financial opportunities in expanding partnerships for biological waste utilization and driving innovation in packaging and material solutions.
SalMar aims to increase the share of local secondary processing of salmon, enabling more ready-to-eat portions, loins, and cuts rather than supplying only whole fish to markets. The company also targets becoming a net positive contributor to reducing marine waste pollution. Continuous improvement in internal waste handling and a systematic reduction of plastic use across the value chain remain key priorities. Furthermore, SalMar seeks to increase the utilization of trimmings and by-products in feed production as part of its transition toward a fully circular economy.
SalMar implements waste management plans at all sites and ensures waste is delivered to certified handlers. Obsolete plastic equipment, such as nets and moorings, is returned through established schemes for recycling and reuse. The company collaborates with suppliers to develop recyclable packaging and improve return systems for polystyrene boxes. Packaging solutions increasingly use recycled and reusable materials, and biological waste streams, including off-cuts, offal, sludge, and silage, are utilized in feed production and delivered to biogas and fertilizer industries.