Bakkafrost has announced a three-year 10 million DKK investment into its Healthy Living Fund – one of numerous financial commitments to support its sustainability vision to enable healthy living for millions of people globally through the provision of responsibly-produced top-quality salmon.
Today’s announcement, which marks the company’s 50th anniversary, includes a 2.1 million DKK three-year collaboration with the University of the Faroe Islands (Fróðskaparsetur Føroya) to advance research in natural sciences, with the aim to find solutions to the challenges faced by the aquaculture industry around the world.
The University partnership aims to improve knowledge about the impact from salmon farming on the fjord environment and the potential impact from climate change on salmon aquaculture in the Faroe Islands. Fish health and welfare and biosecurity will also be included in the research.
University Rector Sigurð í Jákupsstovu said: “The funding will enable the University to develop its capabilities in this area and attract further funding to build intellectual capital in the Faroe Islands for a long-term positive impact on the industry.”
Bakkafrost CEO Regin Jacobsen said: “Our Healthy Living Fund is part of our plan to address our economic, social and environmental impacts and part of a larger effort by the industry to increase our sustainability through responsible production practices. This is critical if we are to meet the growing global demand for protein. We are delighted to enter a partnership with the University of the Faroe Islands to strengthen the Faroese Salmon industry and hope it will be long-lived.”
This follows an announcement earlier this year to build the country’s first biogas plant with the capacity to process all the waste generated from salmon and dairy farms in the islands, saving up to 11,000 tonnes of carbon dioxide emissions annually through the provision of renewable energy to the national grid.
More information on Bakkafrost’s sustainability plan can be found in its Healthy Living Sustainability Report.