AquaBounty Announces Launch of Environmental, Social, and Governance (ESG) Integrated Reporting Initiative
AquaBounty to Begin ESG Analysis, Implementation and Reporting
MAYNARD, Mass., Oct. 13, 2021 (GLOBE NEWSWIRE) -- AquaBounty Technologies, Inc. (Nasdaq: AQB) (“AquaBounty” or the “Company”), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced that it has launched its Environmental, Social, and Governance (ESG) integrated reporting initiative.
AquaBounty has engaged MZ Group, one of the largest independent investor relations and ESG advisory groups, to conduct its ESG assessment, develop an ESG reporting strategy and carry out reporting in line with selected sustainability accounting principles. AquaBounty will utilize MZ’s proprietary reporting tool ESGiQ to collect, manage and analyze data in accordance with selected reporting standards, as well as score quality and depth of disclosure based on guidelines accepted by AquaBounty’s management and the Board, to generate an ESG score for the Company.
The Company has chosen Sustainability Accounting Standards Board (SASB) as its primary reporting standard and will make a voluntary commitment to support the United Nations’ Sustainable Development Goals to drive global improvement towards objectives such as Zero Hunger, Clean Water & Sanitation, Industry Innovation, Responsible Consumption & Production, improved Life Below Water and others goals set forth by the United Nations. In future years, AquaBounty will seek to add reporting figures for Global Reporting Initiative (GRI) and Task Force on Climate-Related Financial Disclosures (TCFD), in addition to its ESG reporting to SASB standards.
“The very essence of AquaBounty’s mission is to contribute to the sustainability of our planet, relieve pressure on the oceans and provide nations with healthy, antibiotic-free and disease-free affordable fish protein,” said Sylvia Wulf, Chief Executive Officer of AquaBounty. “While we have always conducted business as a good neighbor, working to give back to the local communities in which we operate, we are excited to add material ESG aspects into our corporate strategy and Key Performance Indicators (KPIs). We believe such integrated reporting will play an instrumental role in enhancing our profitability and risk oversight going forward.”
“We will implement changes to our decision-making process over the next 3-5 years to include most material aspects of ESG reporting - setting up the methodology for proper tracking and analysis of identified metrics,” said David Frank, Chief Financial Officer of AquaBounty. “I am pleased that our Board, management and other stakeholders are backing our ESG reporting initiative and I look forward to sharing our first report with the market later this year.”
AquaBounty Technologies, Inc. (NASDAQ: AQB) is a leader in aquaculture leveraging decades of technology expertise to deliver game-changing solutions that solve global problems, while improving efficiency, sustainability and profitability. AquaBounty provides fresh Atlantic salmon to nearby markets by raising its fish in carefully monitored land-based fish farms through a safe, secure and sustainable process. The Company’s land-based Recirculating Aquaculture System (“RAS”) farms, located in Indiana, United States and Prince Edward Island, Canada, are close to key consumption markets and are designed to prevent disease and to include multiple levels of fish containment to protect wild fish populations. AquaBounty is raising nutritious salmon that is free of antibiotics and other contaminants and provides a solution resulting in a reduced carbon footprint and no risk of pollution to marine ecosystems as compared to traditional sea-cage farming. For more information on AquaBounty, please visit www.aquabounty.com or follow us on Facebook, Twitter, LinkedIn and Instagram.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. All statements other than statements of historical fact contained in this release are forward-looking statements, including, but not limited to, statements regarding ESG reporting initiatives; anticipated growth in market size; anticipated productivity, the expected benefits of AquAdvantage salmon and land-based production to consumers and the environment, including consistency of supply, disease- and antibiotic-free production, resource conservation, and reduced carbon footprint;. Forward-looking statements may be identified with words such as “will,” “may,” “can,” “expect,” “plan,” “anticipate,” “upcoming,” “believe,” “estimate,” or similar terminology, and the negative of these terms. Forward-looking statements are not promises or guarantees of future performance and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, we undertake no obligation to update or revise these forward-looking statements. For additional information regarding these and other risks faced by us, please refer to our public filings with the Securities and Exchange Commission (“SEC”), available on the Investors section of our website at www.aquabounty.com and on the SEC’s website at www.sec.gov.
Greg Falesnik or Luke Zimmerman
MZ Group - MZ North America
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