P/F Bakkafrost is a leading Faroese salmon farming company headquartered in Glyvrar on the island of Eysturoy in the Faroe Islands. Established in 1968, it has grown into the largest fish farming oper... P/F Bakkafrost is a leading Faroese salmon farming company headquartered in Glyvrar on the island of Eysturoy in the Faroe Islands. Established in 1968, it has grown into the largest fish farming operation in the Faroe Islands and the third-largest globally, serving as the biggest private employer there. The company produces and sells a diverse array of high-quality salmon products, including fresh and frozen whole salmon, fillets, portions, smoked salmon, and by-products like heads, backbones, and skin, distributed to North America, Western Europe, Eastern Europe, Asia, and beyond. Renowned for its vertical integration, P/F Bakkafrost controls the entire value chain—from fishmeal, fish oil, and feed production to smolt rearing, on-growing, harvesting, processing, and logistics, including a fleet of service vessels and even aircraft for transport. Operations span the Faroe Islands and Scotland, leveraging ideal North Atlantic conditions for robust Atlantic salmon. Committed to sustainability, fish welfare, and environmental stewardship, it features world-class facilities like the largest hatchery and emphasizes traceability and quality throughout its segments: Fishmeal/Fish Feed, Freshwater and Farming in Faroe Islands and Scotland, Services, and Sales.
In 2024, P/F Bakkafrost was subject to the Corporate Sustainability Reporting Directive (CSRD)'s requirements, which mandated the company to publish EU Taxonomy disclosures.
The company reported the eligibility and alignment of Turnover, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) with the EU Taxonomy, helping assess the extent to which its business activities align with Europe's environmental sustainability goals.
P/F Bakkafrost has also provided an activity-level breakdown of its EU Taxonomy disclosures. This granular reporting enhances transparency around which economic activities of P/F Bakkafrost are considered environmentally sustainable and contribute to at least one of the six environmental objectives defined under the EU Taxonomy framework.
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Total Taxonomy Aligned A1 Turnover
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Total Taxonomy Eligible A Turnover
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Total Taxonomy Non-Eligible B Turnover
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4.20 CCM/CCA - Cogeneration of heat/cool and power from bioenergy
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2024
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2022
2021 - 2017
Total Taxonomy Aligned A1 Opex
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Total Taxonomy Eligible A Opex
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Total Taxonomy Non-Eligible B Opex
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4.20 CCM/CCA - Cogeneration of heat/cool and power from bioenergy
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5.6 CCM/CCA - Anaerobic digestion of sewage sludge
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5.7 CCM/CCA - Anaerobic digestion of bio-waste
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6.10 CCM/CCA - Sea and coastal freight water transport, vessels for port operations and auxiliary activities
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2024
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2022
2021 - 2017
Total Taxonomy Aligned A1 Capex
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Total Taxonomy Eligible A Capex
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Total Taxonomy Non-Eligible B Capex
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4.9 CCM/CCA - Transmission and distribution of electricity
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6.5 CCM/CCA - Transport by motorbikes, passenger cars and light commercial vehicles
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Limited Data Preview
You are viewing a limited preview of P/F Bakkafrost’s EU Taxonomy dataset. The full dataset, available for download, includes eligibility and alignment metrics for turnover, CAPEX, and OPEX across all EU Taxonomy categories (A1, A2, A, B, and A+B), at both aggregate and activity level, with historical coverage back to undefined.
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a. P/F Bakkafrost's Integrated Report 2024
Insights into P/F Bakkafrost's Revenues from Sustainable Activities
In 2024, P/F Bakkafrost reported EU Taxonomy-eligible revenues of DKK 18.70 million, representing 0.3% of its total turnover. Of this amount, DKK 14.30 million of P/F Bakkafrost's revenues was classified as EU Taxonomy-aligned, indicating that 0.2% of the revenue-generating activities undertaken by the company substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
How much of P/F Bakkafrost's revenue is eligible under the EU Taxonomy?
In 2024, P/F Bakkafrost reported that DKK 18.70 million of its revenue was eligible under the EU Taxonomy, representing 0.3% of the company's total turnover. Of this amount, DKK 14.30 million (0.2% of total revenue) was classified as Taxonomy-aligned. This means that 0.1% of P/F Bakkafrost's revenue is eligible but not aligned, indicating that these activities did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards.a
How much of P/F Bakkafrost's eligible revenue is aligned with the EU Taxonomy?
In 2024, P/F Bakkafrost reported that DKK 14.30 million of its revenue was aligned under the EU Taxonomy, representing 0.2% of its total turnover.a
This low alignment highlights either a limited focus on green activities or early-stage adoption of sustainability frameworks, underscoring opportunities for further alignment with EU climate objectives.
P/F Bakkafrost's Eligibility & Alignment Overview
P/F Bakkafrost's Contribution to Environmental Objectives
Total Taxonomy Aligned A1 Turnover
Total Taxonomy Eligible but Not Aligned A2 Turnover
How is P/F Bakkafrost's taxonomy-aligned revenue distributed across the EU environmental objectives?
In 2024, P/F Bakkafrost reported that its taxonomy-aligned revenue was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 0.2%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much revenue does P/F Bakkafrost earn from selling climate-related solutions ?
In 2024, P/F Bakkafrost reported that DKK 14.67 million of its total revenue was associated with activities contributing to the EU taxonomy climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This accounted for 0.2% of the company's total revenue,indicating that P/F Bakkafrosthas limited exposureon solutions that support climate action through its commercial activities.a
Insights into P/F Bakkafrost's CAPEX from Sustainable Activities
In 2024, P/F Bakkafrost reported EU Taxonomy-eligible CAPEX of DKK 180.80 million,representing 17.8% of its total CAPEX. Of this amount, DKK 28.90 million of P/F Bakkafrost's CAPEX was classified as EU Taxonomy-aligned, indicating that 2.9% of the company's investments were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
How much of P/F Bakkafrost's capital expenditure (CAPEX) is eligible under the EU Taxonomy?
In 2024, P/F Bakkafrost reported that DKK 180.80 million of its capital expenditure (CAPEX) was eligible under the EU Taxonomy, representing 17.8% of the company's total CAPEX. Of this amount, DKK 28.90 million (2.9% of total CAPEX) was classified as Taxonomy-aligned. This means that 15% of P/F Bakkafrost's CAPEX is eligible but not aligned, indicating that these investments either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of P/F Bakkafrost's eligible CAPEX is aligned with the EU Taxonomy?
In 2024, P/F Bakkafrost reported that DKK 28.90 million of its CAPEX was aligned under the EU Taxonomy, representing 2.9% of its total capital investment.a
This low alignment reflects that P/F Bakkafrost is beginning to transition its capital allocation toward greener investments, but still retains substantial opportunities for further alignment with sustainability goals.
P/F Bakkafrost's Eligibility & Alignment Overview
P/F Bakkafrost's Contribution to Environmental Objectives
Total Taxonomy Aligned A1 Capex
Total Taxonomy Eligible but Not Aligned A2 Capex
How is P/F Bakkafrost's taxonomy-aligned CAPEX distributed across the EU environmental objectives?
In 2024, P/F Bakkafrost reported that its taxonomy-aligned capital expenditure (CAPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 2.9%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much P/F Bakkafrost is investing in climate-related solutions?
In 2024, P/F Bakkafrost allocated DKK 29.39 million of its CAPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 2.9% of the company's total capital expenditure,indicating that P/F Bakkafrosthas only marginally directed its capital expenditure toward climate-related activities, suggesting limited alignment with climate objectives.a
Insights into P/F Bakkafrost's OPEX from Sustainable Activities
In 2024, P/F Bakkafrost reported EU Taxonomy-eligible OPEX of DKK 10.60 million,representing 3.7% of its total operating expenses (OPEX). Of this amount, DKK 3.20 million of P/F Bakkafrost's OPEX was classified as EU Taxonomy-aligned, indicating that 1.1% of the company's operating expenses were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
How much of P/F Bakkafrost's operational expenditure (OPEX) is eligible under the EU Taxonomy?
In 2024, P/F Bakkafrost reported that DKK 10.60 million of its operational expenditure (OPEX) was eligible under the EU Taxonomy, representing 3.7% of the company's total OPEX. Of this amount, DKK 3.20 million (1.1% of total OPEX) was classified as Taxonomy-aligned. This means that 2.6% of P/F Bakkafrost's OPEX is eligible but not aligned, indicating that these expenditures either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of P/F Bakkafrost's eligible OPEX is aligned with the EU Taxonomy?
In 2024, P/F Bakkafrost reported that DKK 3.20 million of its OPEX was aligned under the EU Taxonomy, representing 1.1% of its total operational expenditure.a
This low alignment reflects limited operational focus on green activities, suggesting that sustainability considerations have yet to be fully integrated into core operating processes.
P/F Bakkafrost's Eligibility & Alignment Overview
P/F Bakkafrost's Contribution to Environmental Objectives
Total Taxonomy Aligned A1 Opex
Total Taxonomy Eligible but Not Aligned A2 Opex
How is P/F Bakkafrost's taxonomy-aligned OPEX distributed across the EU environmental objectives?
In 2024, P/F Bakkafrost reported that its taxonomy-aligned operational expenditure (OPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 1.1%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much of P/F Bakkafrost's operational budget supports climate-related solutions?
In 2024, P/F Bakkafrost allocated DKK 3.12 million of its OPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 1.1% of the company's total OPEX,indicating that P/F Bakkafrosthas only a limited share of operational expenditure aligned with climate goals, signaling early-stage or minimal integration of climate objectives into its routine activities.a
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