Brim

About Brim

Brim produces high-value products from wild-caught fish harvested in Icelandic waters. The company focuses on innovation and sophisticated fishing and processing technologies and continuous production development. Customers are ensured a steady supply of healthy seafood that is economically processed from sustainable stocks.

Areas of importance include streamlined and sustainable operations, careful use of catch quotas, growth and increased profitability and collaboration with other companies in the fields of research, marketing and sales.

Respect for the environment and the marine ecosystem form the foundations for Brim operations, and the company makes every effort to use marine resources with respect and to fully utilise the catches that its vessels bring to shore so that future generations may continue to enjoy the resource. Furthermore, Brim has its social responsibilities. As a result, it is the company’s policy to ensure that its operation reflects its responsibility toward resources on land, at sea and the society as a whole.

Brim has operating units in Reykjavík, in Akranes and in Vopnafjörður. An average of eight fishing vessels were in operation during the year. The company’s main offices are at Norðurgarður in Reykjavík. These house the executive management of the company together with the finances, groundfish, pelagic, marketing and human resources management departments. The number of full-time positions were 798 on average in 2019. Employee roles are spread out over the entire value chain, i.e. fishing, processing, sales and distribution of the company’s products. The company is listed in the main market of the Icelandic NASDAQ exchange.

Products were sold to 32 countries in 2019. The largest market areas were France, the UK, Norway and Poland.

At year-end, the main subsidiaries of Brims were: Ögurvík, Icelandic Asia, Vignir G. Jónsson, Seafood Services, Norðanfiskur and Gjörvi ehf.
In addition, the company owned a 20% shareholding in Deris S.A. in Chile, 33% in Laugafiskur and 25% in Marine Collagen ehf.



SOCIAL RESPONSIBILITY POLICY OF BRIM

The company’s policy in social responsibility addresses environmental, social and economic aspects in the operation and reflects the company’s responsibility as a participant in the Icelandic economy and community.

Respect for the environment and marine life are the basic values that govern the company’s operations. More careful use of resources and the environment and the full utilisation of catch, in addition to the safety and wellbeing of employees, are the main focus points of the company as regards the non-financial aspects of its operation.

The role of Brim is to responsibly maximise the value and returns from the shared natural resources that the company is entrusted with. The company’s policy is to be an integrated fisheries company involved in vessel operation, processing and sales operations that provide returns to owners and a desirable working environment for employees and which operates in harmony with the environment, with the goal of ensuring secure employment and the viability of fishing villages outside Reykjavík..

ENVIRONMENT

Brim will seek any means to reduce pollution from its own operations and continue to develop its operation toward sustainable fishing and processing.

Electricity shall be used where availability permits, and Brim’s policy is to increase the share of electricity to the detriment of fossil fuels, such as by connecting company vessels to electrical and heating utilities when in port.

The company’s goal is to switch to even further environmentally friendly fuel types and refrigerants. Brim plans to increase the use of electric vehicles and hybrid cars over the next few years and has entered into transport subsidy agreements with its employees to encourage them to use more environmentally friendly modes of travel.

All waste generated by the operation, both at sea and on land, is sorted.

USE OF RECOURCES

It is of extreme importance for Brim, as well as for the Icelandic fisheries sector in general and the nation as a whole, that the condition of the fish stocks remain healthy and that information on catches and conduct with regard to the marine ecosystem is reliable, traceable and transparent.

SUSTAINABLE FISHERIES

Brim contributes to responsible fisheries through its respectful treatment of the resource that consists of the fish stocks around Iceland. The company complies with all the rules and directives that apply to its fishing operations and is not involved in any way in pirate fisheries (Illegal, Unreported and Unregulated (IUU) Fishing).

QUALITY AND TRACEABILITY

Brim’s fishing operations rely solely on wild stock, and the company’s products consist, in all cases, of pure and naturally healthy marine produce. The traceability of products is an important part of food production. The food and feed safety systems of Brim are based on being able to trace the product from its origins all the way to the customer.

SOCIETY

Brim actively participates in promoting development and progress in the community by supporting worthy causes. The projects are diverse, and through them, Brim supports projects such as search and rescue operations, cultural activities and innovation and education relating to fisheries operations. The company is proud of its contribution to the community and the social development that takes place therein.

EMPLOYEES

Brim is a reliable workplace where the management and employees care about the wellbeing and health of their colleagues. Brim is a family-friendly workplace that seeks to provide a balance between work and family and private life. The company focuses on ensuring a good working environment, safety and good working facilities for its employees. For further information, see Brim’s Human Resources Policy.

HUMAN RIGHTS AND CODES OF CONDUCT

Brim respects general human rights, the right to be a union member and collective wage agreements. Contractors and sub-contractors are under obligation to comply with applicable Icelandic laws, irrespective of whether they are wage earners or independently operating sub-contractors. The company respects the applicable collective wage agreements and other statutory rights of employees. Victimisation or sexual harassment is not tolerated at Brim.

GOVERNANCE

The Board of Directors and Managing Directors of Brim place great importance on maintaining good management practices so as to ensure that the work of the Board, as well as the operation of the company as whole, meets the criteria that apply to good governance. The company is listed in the main market of the NASDAQ exchange in the Nordic countries and follows the communication rules that apply there.

INNOVATION

Digital solutions and the fourth industrial revolution will transform the fisheries industry as well as other sectors. Brim works together with a number of companies on innovation and interesting solutions in the field of digital technology.

OBJECTIVES AND MEASUREMENTS

Indicators and measurements of Brim’s results may be found in the company’s annual sustainability report.

CODES OF CONDUCT OF BRIM AND ITS SUBSIDIARIES

ABOUT THE REPORT

Indicators are examined annually in relation to changes in operations and increased access to information. The subsidiary Ögurvík was added to the report in 2019 when it was fully added to the operation. Efforts were made to improve information systems to gain a better overall view of the indicators that apply to the company. This sustainability report is, for the most part, similar in structure to that of earlier reports.

The report summarises the knowledge that has been built up within the company but is not an exhaustive examination of all the effects that Brim has on its environment, community and economy. All the information is in accordance with the knowledge we have at the time that the report was written. Environmental information was collected directly from suppliers into the environmental database of the company. The report is not reviewed by a third party.

Brim’s sustainability report discusses the non-financial aspects of the operation and is prepared in accordance with the GRI Standard (Global Reporting Initiative).

Information on social and economic aspects come from the information systems of Brim.