BEYOND SUSTAINABILIT Y

A Responsible
Business Roadmap
2030 for a sustainable
and inclusive foodprint

Vision Contents
As farmers of the Oceans and Land, it is our Drivers and Trends 2
responsibility to: What Matters 3
1. Produce healthy and accessible food for the Waste 4
world; People and Communities 5
2. Build resilient and supported employees and Climate and Circularity 6
communities; and Freshwater 7
3. Deliver strong and consistent economic Responsible Sourcing 8
results. Governance 9
Animal Welfare 10
While respecting our planet for future
generations as we build a better tomorrow. Our Roadmap 11

Acknowledgement of Country
We acknowledge the Traditional Custodians of country and their
connections to land, sea and community. We pay our respect
to their elders past and present and recognise that Australia is
home to the oldest cultural tradition in the world.
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Drivers & Trends

Oceans cover
Consumers and retailers approximately 71% of
want to know where their our earth’s surface,
World population is Wild fish stocks have
food comes from and presenting an opportunity
seven billion people and and continue to
expect producers to hold for more food production
growing. decline. third-party sustainability from oceans that
certifications. acknowledges the oceans
assimilation capacity.

Globally, with increasing pressure on our planet, access to arable land restrictive and wild fisheries plateauing from
protecting vulnerable stocks, aquaculture’s role in the future of the planet’s food supply has been cemented.
Our industry is a solution to addressing increased demand for more sustainable, nutritious, efficient and affordable
sources of protein. Farming is first and foremost about feeding a growing population.

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 What Matters
What matters to our investors, our customers, consumers, our people and the
communities in which we operate matters to us.

Listen Prioritise Align

Trust is everything to us. In prioritising the issues of most importance The global framework of action under the United
to Tassal, we look at our own business goals, Nations Sustainable Development Goals (SDGs)
It’s the difference between promises and actions.
activities, and impacts, monitor emerging issues assist us to align our strategies and operations,
We know that meaningful engagement and and we seek the views of our stakeholders. guide and measure our contributions, share ideas
communication starts with understanding what with our industry partners and build awareness.
matters to our stakeholders.
That’s why we always start with listening. People
We commission third-party research to determine
overall community sentiment towards aquaculture and
our operations. Planet
Brand sentiment research is conducted by our team to
understand consumer expectations.
Product
We complete sustainability surveys with stakeholders
to understand what matters to our business and our
people.
Prosperity

Principles of Governance

TASSAL RESPONSIBLE BUSINESS ROADMAP 2021 3

In 2018, 27 per cent of the debris we collected
during shoreline clean-ups was attributed to our
operations.
In 2018 we made a public commitment to
Waste
reduce our contribution to marine debris,
implementing a three year strategy and
investing significantly in support services and
partnerships to help us achieve our goal of
no more than 10 per cent of debris collected
attributed to Tassal by October 2020.
As at 1 November 2020, we achieved our Playing our part Targets
for waste free
target, with only 7.5% per cent of debris
collected attributed to Tassal. 1. 100% polyethylene marine farming equipment is
reused, recycled, or repurposed by 2025 (feed
While this achievement gives cause to pipe, sea pens, stanchions, bird net stands)
celebrate the hard work we have done, we must
acknowledge that marine debris is an issue that
needs ongoing attention in order to maintain
oceans, coasts and 2. 95% diversion from landfill from processing plants
by 2025
our focus and accomplish even more challenging
targets. households 3. 100% reusable, recyclable, or compostable
packaging by 2025

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1st Sustainability
Report
Triabunna rendering
plant NOW 1,2,3

2010 2015 2020 2025

Introduced Marine Debris
Joined APCO campaign

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People and
Communities
Being a responsible global Targets
citizen and unlocking our 1. Maintain and improve local community sentiment
against baseline by 10% by 2023

people while embracing 2. Zero remuneration difference for like-like positions

and experience by gender

our ZerobyChoice safety

3. Achieve 40:40:20 gender representation in senior
leader positions* by 2026 (* Includes Board)
4. Create a pathway toward zero tolerance to any
culture form of Modern Slavery
5. Zero Harm for everyone, everywhere (zero serious
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or significant incidents, zero legislative breaches =
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6. Create a diverse, high performing and highly

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engaged workforce that embraces ongoing growth

and development opportunities by 2023
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1st Sustainability
Report
Achieved Aquaculture Stewardship
Council (ASC) certification NOW 6

2010 2015 2020 2025

Recognised as a Tasmanian Released first Modern

Employer of Choice Slavery Statement

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 Climate and
Circularity
Towards carbon and Targets
climate neutral 1. We aspire to be net zero by 2050, and are
currently assessing our science-based datasets to
set a climate roadmap to 2030
2. Establish flagship carbon neutral farm program -
one salmon farm and one prawn farm
3. Spend $60 million over three years on initiatives
and R&D to reduce the impact of climate change
on our operations

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Introduced seaweed
Tassal acknowledges and supports the scientific
Selective Breeding
Program
IMTA project NOW 1-3
consensus on climate change.
We take responsibility for improving the energy
efficiency of our operations, transitioning to 2010 2015 2020 2025
renewable energy, investing in new technologies.
We explore partnerships and initiatives to unlock 1st Sustainability Remote feed
blue carbon opportunities through seaweed Report centre

and support food systems adaptation.

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Freshwater
Every drop Targets
counts 1. Maintain low impact footprint of freshwater use in
farming operations
2. Undertake feasibility assessment of freshwater
salmon hatcheries utilising flow through technology
– move to 100% RAS facilities by 2030

3. Optimise water use in land-based hatcheries across

salmon and prawn operations

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Second recirculation hatchery

1st Sustainability
Report (Rookwood Road II) NOW 1-3

2010 2015 2020 2025

First recirculation hatchery
(Rookwood Road)
Aqua Spa well boat

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Responsible
Sourcing
Driving sustainability Targets
through traceability, 1. Develop feed strategy that considers the role of
feed in biodiversity, climate, and nutritional systems

security and 2. 100% of category A, B and C suppliers* approved

under Tassal’s Approved Supplier Program by 2022

responsibility
3. 100% seafood certified to a third-party
sustainability standard or subject to a formal State
or Commonwealth fisheries management plan

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*Suppliers with a spend over AU$1 million

First salmon company in

the world to achieve all
Aquaculture Stewardship
Council (ASC) certification 95% seafood
NOW
1st Sustainability
Report across all harvest farms certified

2010 2015 2020 2025

Achieved Best
Aquaculture Practices
First prawn farmer to achieve
full Best Aquaculture Practices
2
(BAP) certification (BAP) certification

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Governance
A pathway for ongoing value
Targets
creation + confidence through
1. Embed ESG & sustainability into the leadership
transparency, strategy and culture

leadership to put us on track 2. Achieve low to medium risk status in global ESG
benchmarking
to be one of the world’s most 3. Increase participation across ESG corporate
sustainable protein producers platforms

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Benchmarked as the
number one salmon 10 years of
Sustainability
1st Sustainability
Report
farming business
in ESG Reporting NOW

2010 2015 2020 2025

Tassal rated as Leading in ESG
reporting by ACSI for third
1st Sustainability Dashboard consecutive year

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 Animal Welfare
We care about Targets
the wildlife in the 1. 100% of farming employees completed
HAPPYfish animal welfare training

enviroment and our 2. Towards Tier 1 status under Business Benchmark

on Farm Animal Welfare (BBFAW) by 2030, with

stock is thriving and and initial target Tier 2 by 2025

3. Zero use of antimicrobials listed as critically

healthy important by the World Health Organisation

(WHO)

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4. Continued phase out of seal deterrents
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1st Sustainability
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Aqua Spa
well boat NOW 1-4

2010 2015 2020 2025

Commence roll out 100% sanctuary

of sanctuary pens pen coverage

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 Our Roadmap
Responsible Business is a sustainable and inclusive way of delivering value for all stakeholders
Our Values
Our values define our business and culture, and underpin our commitment, attitude, how we work and the quality of our products
Our Vision Passionate Achieve Together We Own It Can Do - Safely
A better tomorrow We are committed in heart and mind to We believe together we can achieve We take responsibility for our decisions, We care and are courageous and loyal
the work we do, we care and our energy more, we motivate, care for and support performance and safety. We care and in our commitment to achieve
is infectious each other – to be the best in our field never want to let our team down

Our Mission Our Guiding Principles

As farmers of the ocean and land, it is our responsibility to:
• Produce healthy and accessible food for the world; Code of Conduct
• Build resilient and supported employees and communities; and
People Planet Product Prosperity Principles of Governance
• Deliver strong and consistent economic results.
While respecting our planet for future generations as we build a better tomorrow.

Our Responsible Business Accelerators

Waste People and Communities Climate and Circularity Freshwater Responsible Sourcing Governance Animal Welfare
Playing our part for waste free Being a responsible global citizen and Towards carbon and Every drop counts Driving sustainability through A pathway for ongoing value creation + We care about the wildlife in
oceans, coasts and households unlocking our people potential while climate neutral traceability, security and confidence through transparency, strategy and the environment and our stock
embracing our ZerobyChoice safety culturel responsibility leadership to put us on track to be one of the is thriving and healthy
world’s most sustainable protein producers

Stakeholder Engagement and Governance

Tassal Group Board
What Matters Company ESG Policies The Board has oversight and ultimate responsibility of our Responsible Business Roadmap
In prioritising the issues of most importance to Tassal, we look at our own business goals, activities, The Board receive regular updates and has oversight of how our business is performing
and impacts, monitor emerging issues and we seek the views of our stakeholders Operational Policies across all our internally defined, sustainability related material risk areas
Risk and Responsible Business Committee of the Board
Management, data reporting, risk Responsible Business Executive Sponsors
Community People Investors Customers Consumers Sentiment
management and assurance Responsible Business Steering Committee
Research
Responsible Business architecture Responsible Business, sustainability and ESG principles, guidance and policies are
integrated throughout the business and give guidance on the standards we expect

Transparency and Routine Disclosure Key Partnerships Innovation

We do what we say, and we show you

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Tassal Group Limited
Level 9, 1 Franklin Wharf
Hobart, Tasmania 7000
T +61 3 6244 9035
[email protected]
tassalgroup.com.au