Connecting through transparency

We operate in one of the world's most important value chains, where even the smallest improvements can add up to substantial benefits. Everything counts. We recognize our responsibility to the global population and the planet we all share. We keep track of how each undertaking contributes to society so that we can use these insights to improve our performance – and our customers’ performance – every day.

ESG data and references

2020 ESG data highlights

Environmental performance

  • Resource efficiency increased relative to the economic value generated: 10.83 kgCO2 per EUR 1,000 of revenues versus 17.68 kgCO2 in 2019.
  • There was a 41% CO2 reduction from scope 1, 2, and 3 compared to 2019, mainly due to new ways of working that have emerged during the pandemic. With the onset of COVID-19, trade show participations were cancelled in March 2020 and air travel was drastically reduced, while service engineers and installation teams accelerated their journey in offering virtual and remote support to Marel’s customers and colleagues.
  • Emissions from air travel (scope 3) decreased by 79% in 2020 compared to 2019. Some air travel was replaced by travel in company cars, resulting in 17% higher carbon emissions from company cars (scope 1) in 2020.
  • Going forward, emissions from air travel are likely to increase as trade show activities and general business travel picks up again. New ways of working and use of digital solutions will provide opportunities for further operational efficiencies and emissions.
  • Marel continued its focus on lowering energy intensity per FTE and moving towards using renewable energy, which represents around 54% (2019: 52%). In 2020, Marel adopted a Green Energy Procurement Policy on the preferred sourcing of green energy for electricity. The aim is to phase out the use of grey energy in favor of green energy sources.
  • Marel finalized the fourth core cross-industry solutions lifecycle analysis and its environmental impact.
  • Marel has committed to the Science-Based Targets initiative and to integrating the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD) into Marel’s 2021 climate-risk reporting. Marel is aiming for carbon neutrality well before 2050.

Social performance

Sustainable governance

Environmental reporting guidelines

Nasdaq ESG Indicator
Connections to frameworks
2020
2019
Units
E1
Direct & indirect GhG emissions
13,412
22,708*
Tons CO2e
E1.1
Scope 1
6,321
5,857*
Tons CO2e
E1.2
Scope 2
4,519
4,538*
Tons CO2e
E1.3
Scope 3
2,572
12,313
Tons CO2e
E2
Emission intensity
10.83
17.68*
kgCO2e per 1000 €
E3
Energy usage
49.2
49.5
GWh
E3.1
Directly consumed
16.9
17.1
GWh
E3.2
Indirectly consumed
32.3
32.4
GWh
E4
Energy intensity
7.6
7.9
MWh per FTE
E5
Energy mix
54%
52%*
Share of renewables
E6
Water usage
-
-
E7
Environmental operations
E7.1
Formal environment policy
Yes
Yes
E7.2
Specific waste, water, energy, and/or recycling polices
Yes
Yes
E7.3
Recognized energy management system
Yes
No
Total waste
4.8
5.6
1,000 tons
Of which is recycled
3.5
4.1
1,000 tons
E8
Climate related risk oversight
Yes
No
E9
Sustainability issue oversight
Yes
Yes
E10
Climate risk mitigation
-
-
Sales-weighted fleet fuel efficiency
Not material
Not material
For medium and heavy-duty vehicles
Use of critical materials
Yes
Yes

Restated in line with the guidelines of the Greenhouse Gas Protocol.

Social reporting guidelines

Nasdaq ESG Indicator
Connections to frameworks
2020
2019
Units
S1
CEO pay ratio
S1.1
CEO pay ratio
19.3:1
18.3:1
CEO total compensation as ratio to median Icelandic FTE compensation*
S1.2
Reported in regulatory filings
Yes
Yes
S2
Gender pay ratio
3.4%
8.4%
Gender pay gap
S3
Employee turnover ratio
9.8%
10.9%
Year-over-year change for full-time employees
S4
Gender diversity
S4.1
Total enterprise headcount
16/84
16/84
Women/men ratio
S4.3
Executive team
44/56
17/83
Women/men ratio
S5
Temporary worker ratio
9.8%
13.6%
Third-party and temporary FTEs ratio
S6
Non-discrimination policy
Yes
Yes
Policy in place
S7
Injury rate
0.91
1.24
Total recordable incident rate**
Fatality rate
0
0
For medium and heavy-duty vehicles
Number of near accidents
Not material
Not material
For medium and heavy-duty vehicles
S8
Global health & safety
Yes
Yes
Policy in place
S9
Child & forced labor
S9.1
Child & forced labor policy
Yes
Yes
Policy in place
S9.2
Policy covers suppliers and vendors
Yes
Yes
Included
S10
Human rights
S10.1
Human rights policy
Yes
Yes
Policy in place
S10.2
Policy covers suppliers and vendors
Yes
Yes
Included
Number of employees
6,464
6,303

Changed methodology and restated 2019. CEO long-term incentives based on Black-Scholes.

** Changed from reporting total number of injuries to Total Recordable Incident Rate.

Corporate governance reporting guidelines

Nasdaq ESG Indicator
Connections to frameworks
2020
2019
Units
G1
Board diversity
G1.1
Total board seats occupied by women (compared to men)
43/57
43/57
Women/men ratio
G1.2
Committee chairs occupied by women (compared to men)
33/67
33/67
Women/men ratio
G2
Board independence
G2.1
CEO prohibited from serving as board chair
Yes
Yes
G2.2
Total board seats occupied by independents
100%
100%
G3
Incentivized pay
No
No
G4
Collective bargaining
Yes
Yes
G5
Supplier code of conduct
G5.1
Vendors or suppliers required to follow code of conduct
Yes
Yes
G6
Ethics & anti-corruption
G6.1
Ethics and/or anti-corruption policy in place
Yes
Yes
G7
Data privacy
G7.1
Data privacy policy in place
Yes
Yes
G7.2
Steps taken to comply with GDPR rules
Yes
Yes
G8
ESG reporting
G8.1
Sustainability report published
Yes
Yes
G8.2
Sustainability data included in regulatory filings
Yes
Yes
G9
Disclosure practices
G9.1
Sustainability data provided to sustainability reporting frameworks
Yes
Yes
G9.2
Focus on specific UN Sustainable Development Goals (SDGs)
2, 9, 12
2, 9, 12
G10
External validation assurance
Partial
Partial
Sustainability disclosures assured or validated by a third-party