PARIS — Innovafeed, a producer of sustainable insect-based ingredients for animal, pet and plant nutrition, published its first Impact Report on Jan. 26, detailing its work toward sustainability. The release of the report follows Innovafeed’s B Corp certification and the establishment of its Impact Committee.
Innovafeed uses a “Tech for Impact” model to create new agri-food solutions that address various environmental and social issues including climate change, biodiversity and food security. According to the company, the agro-industry accounts for nearly one-third of total global carbon emissions. Since its beginnings, Innovafeed has focused on insects to help address this.
In its first Impact Report, Innovafeed detailed its commitment to a more circular, sustainable and waste-free agri-food chain, specifically focusing on four areas: climate, biodiversity, food security and local socio-economic impact.
“Impact is at the heart of Innovafeed’s creation and involves each member of our team,” said Clément Ray, chief executive officer of Innovafeed. “Eager to have a positive impact on the food system of tomorrow, we are proud to share the progress made thus far and the strategy we have defined to achieve the key dimensions of our impact mission. I thank all the Innovafeed teams for their talent, passion and dedication in building a new innovative industry and the future green reindustrialization.”
In the climate area, Innovafeed shared that its industrial symbiosis model has achieved an 80% reduction in carbon emissions at its Nesle production site. The site is one of the largest industrial vertical farms in the world, according to Innovafeed, with a capacity of 100,000 tons of product annually.
Regarding biodiversity, Innovafeed’s focus on insect-based ingredients has helped maximize fish biodiversity by limiting fishing needed for aquaculture and reducing the land used for animal and fishmeal ingredient production.
On the subject of food security, Innovafeed’s dedication to insects is contributing to a more sustainable insect industry that is expected to help meet a 40% increase in protein demand by 2030, according to Innovafeed. In using insects, the company also ensures a more circular food supply chain by recycling agricultural byproducts that would otherwise go to waste.
Regarding its local socio-economic impact, the company shared it has created 220 jobs in Hauts-de-France, offering employees professional development and helping revitalize communities with long-term employment opportunities.
In addition to its efforts in addressing climate, biodiversity, food security and supporting local communities, Innovafeed’s Impact Report also shared the company’s progress in environmental, social and governance (ESG) initiatives.
“Having a positive impact on the food system of tomorrow requires collective mobilization to which Innovafeed contributes,” said Darian McBain, chair of the Impact Committee at Innovafeed. “Through the Impact Committee, we are committed to fostering exchanges far beyond the company to co-create an impact roadmap that can create new opportunities for the global agro-industry. The road is long, and the challenges are numerous, but I have full confidence in everyone's commitment to achieving it.”
Access Innovafeed’s full 2023 Impact Report here.
Read more about ESG efforts across the industry.