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Download the ESG Performance 2023
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Our mission is to supply sustainably sourced seafood while continuously improving the environmental and social aspects linked to our operations and aligning them with business priorities. With our sustainability policy we declare our ambition to continuously improve the environmental and social impacts, both from our own operations, as well as our supply-chain partners operations.  

On the road to knowing our impact we have set out certain objectives to achieve. The impacts of those objectives were then further identified and the KPI’s were set. You can read more about this in the section Key Objectives


The key to driving a successful sustainability strategy is knowing which ESG aspects are more important than others to our operation. Double materiality assessment is a tool to identify the true important topics to focus on. When performing the assessment companies are looking at how their operations impact the environment, people and society and how the ESG aspects impact them financially.

A detailed double materiality assessment has been conducted. We started interviewing with both internal and external stakeholders to pinpoint the ESRS topics that were most likely to be material for Iceland Seafood and its subsidiaries. We went through an impact-, risk-, and opportunity assessment (IRO) where we evaluated our impact on the sub-themes listed and used the impact scale to determine to what degree we had an impact on the ESRS sub-themes. Then we evaluated how sustainability related issues can pose a financial risk, for instance through increased costs, reputational damage or revenue loss. We evaluated the inherent risk for each sub-theme, then went through mitigating actions, evaluated the actual risk remaining after mitigating actions have been implemented. Finally, the likelihood of the risk being actualised was evaluated.

The work that has gone into the assessment has really broadened our overall understanding of the emerging regulations related to CSRD/ESRS, as well as Taxonomy and CSDDD. We have gained a holistic perspective, and engaged a multidisciplinary team, both internal and external, from all our subsidiaries, and increased integration between sustainability and business.

We have gained perspective on the impacts, risks and opportunities within the different topics. All this leads to informed decisions on what sustainability topics truly are material to us that we will prioritize going forward.

Supply Chain

Sustainable procurement

As a global value-added seafood producer and sales and marketing company with a vast global supply chain, we must source, produce, transport and sell our range of products sustainably and responsibly.

We are committed to increasing the transparency of our supply chain and knowing our impact, and we have started systematically assessing our suppliers and service partners‘ corporate social responsibility (CSR). 

In 2022, we partnered with EcoVadis to conduct individual sustainability performance assessments of our upstream supply chain partners within their environmental, ethical and social practices. The benefit for our suppliers is that they receive a scorecard indicating where they stand in their CSR work and a list of items that can be improved.

The objective is to limit our value chain's adverse social, environmental, and economic impact. We encourage all our suppliers to take part in this journey with us. The road towards increased sustainability and a more circular economy is a collective effort with benefits and responsibilities on all sides.

Supplier Code of Conduct

As part of our process towards knowing our impact, we implemented a Supplier Code of Conduct in the spring of 2023.  We recognise that a Supplier Code of Conduct is an important way to communicate to our customers publicly, consumers of our products, and other stakeholders the practices we expect our suppliers to follow. In our code, we set expectations for our suppliers, give guidance, and promote ethical behaviour by addressing human rights, fair labour practices, legal compliance, and environmental responsibility.

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Sustainable sourcing

We promote and practice responsible seafood sourcing and monitor the level of certified sustainable seafood within the value chain. Maintaining healthy fish stocks and ensuring that information on fishing and the treatment of marine ecosystems is reliable, traceable, and transparent is of great economic and social importance to the Group. Proper and responsible treatment of natural resources is vital for ensuring that fish stocks remain sustainably harvested.

Policies & Certifications

The policies we implement and the certifications we acquire are our guidelines for conducting our daily work.  

Code of Conduct Sustainability Policy

Reports & Data

The results of continued efforts of data collection processes across the Group to report key sustainability metrics are presented in our sustainability reports. The reports reflect our knowledge and understanding of our ESG performance when published. Here, you can see the reports published since the financial year 2019.

2023 2022 2021 2020 2019

EU Taxonomy