Sustainable development strategy
Nutreco has a long-term and time-bound business strategy in its RoadMap 2025. The strategy integrates sustainable development objectives that cover its approach to sourcing sustainable raw materials, including certification of the fish oil and fishmeal used in its feed production. Furthermore, its targets also include reducing pressure on fish stocks by using more novel ingredients, such as bacteria and yeast, and achieving deforestation-free palm oil and soya ingredients.
Governance and accountability for sustainable development
While responsibility for Nutreco’s sustainable development strategy lies with the Nutreco Sustainability Platform, the company has an opportunity to strengthen accountability by assigning this responsibility to its highest governance body and disclosing further information on its decision-making processes and oversight responsibilities. However, it is worth noting that Nutreco states it is establishing a remuneration policy linked to sustainability objectives and targets, particularly GHG emissions and antibiotic use.
Stakeholder engagement
Nutreco discloses the outcomes of its stakeholder engagement and its integration into its sustainability strategy. Within its three sustainability pillars (health and welfare, climate and circularity, and good citizenship) Nutreco ensures that its engagement covers sustainability topics in the seafood industry across its value chain, such as ecosystems, traceability and social responsibility. However, there remains an opportunity for the company to improve its reporting by disclosing its process for identifying stakeholders.
Engagement in policy advocacy
As a member of the Seafood Business for Ocean Stewardship (SeaBOS), Nutreco (Skretting) takes part in collective advocacy activities through statements and calls to action towards governments. Examples of these activities are calls for governments to support boat crews and ocean workers during the COVID-19 pandemic, and the Statement on Traceability and Port State Measures to combat IUU fishing. Nutreco’s subsidiary Skretting also advocates for improving the management of the blue whiting fishery in the Atlantic North-East through its involvement in the North Atlantic Pelagic Advocacy Group. The company can improve its reporting on this topic by sharing information about results and impacts of its policy advocacy activities.