We must do our part to ensure our work does not cause unnecessary pollution or emissions.
Varðin is a leading sustainable provider of high-quality pelagic fish products in the North Atlantic. We aim to strengthen our business by undertaking new sustainable initiatives in our value chain to establish a secure foundation for our future activities.
Regarding the protection of fish stocks, Varðin follows the recommendations and counsel of the authorities about sustainable fisheries and preservation of fish stocks. We must do all we can to ensure that our work does not rest on unnecessary pollution or emissions.
Varðin has purposefully worked with sustainability for the last two years. This report is Varðin's first ESG report. It is our privilege to be able to tell our stakeholders about Varðin and sustainability and what we have in mind to improve our processes.
Chicken contributes up to a 19 times higher climate footprint than Varðin’s products.
The figure below shows the average data of Varðin for 2019–2021, compared to salmon transported to the market by ship and by air, chicken, pork, lamb, fresh cod and salted cod.
The carbon footprint for the fish products Varðin is selling is very low compared to other protein-rich food products such as salmon, chicken, pork, prawns and beef. The table below shows the emission of Varðin calculated according to the PEFCR method, i.e. the building and maintainance of the vessel, and the fishing equipment is not included.
The carbon footprint per kilo fish is 0.54 CO2e when the whole value chain from fishing to the delivery in the customer’s cold store (e.g. Alexandria, St. Petersburg, Kleipe-da and Lagos) is included.
This is less than 1/10 compared to fresh salmon delivered by ship and truck.
The carbon footprint per kilo fish is 0.54 CO2e including the whole value chain from fishing to delivery
The company has contracted three vessels, and engine manufacturers guarentee fuel savings of at least 10.25% compared to existing ships
Varðin is in the demersal fishing across the entire value chain, mainly saithe fish and cod.
- Finnur Fríði has consumed an average of 4,178,175 litres in the last three years. A saving of 11.64% means a saving of 486,348 litres per year. This vessel is slated to join the fleet in May 2024.
- Lerkur has consumed an average of 1,057,369 litres a year. A saving of 5.15% means a saving of 54,505 litres per year. This vessel is slated to join the fleet in 2026.
- Rankin, a demersal trawler, consumes an average of 448,767 litres annually. A saving of 9.36% means a saving of 42,003 litres per year. This vessel will not be delivered probably until 2026.
The figure above shows where the CO2 emissions happen in the value chain. Approximately 1/3 is caused by building the fishing vessels and gear, also including maintenance of the vessels. About half is caused by running the engines of the fishing vessels. The other 20% goes to processing the fish, packaging material, cold storage, and transportation to the customers.
When present in Faroese territory, mackerel thrives on the abundant plankton, resulting in a texture that differs from the preferred consistency demanded by customers – it tends to become soft and fatty. Complicating matters, mackerel does not congregate in schools during feeding. Currently lacking a fishing agreement with Great Britain, the Faroe Islands are compelled to harvest mackerel within their own waters. The challenge arises from the scattered nature of the fish, making the fishing process more arduous and necessitating increased sailing, consequently contributing to higher oil consumption. It is well known among people within the industry that it is better and more efficient to fish mackerel in UK waters because it gathers in schools.
We know that fishing and processing must be sustainable. It is essential to keep emissions as low as possible. Parameters like quality, price, and emissions play pivotal roles in shaping the sustainability and management of these vital marine resources. The Sjókovin report from 2022 has the numbers for the Faroese pelagic fleet's oil use. It states that the oil consumption of mackerel fishing was 2.5 times higher than in British waters in 2019. This pattern we see in the Varðin data is that the mackerel has relatively higher emission than herring and blue whiting. The increase is because the mackerel is more challenging to catch and softer, which the customers do not like as much.
The first Faroese company to calculate CO2 emissions, including shipbuilding, equipment, and maintenance.
ESG-
report
2023
