PARIS — Innovafeed, a producer of sustainable insect-based ingredients for animal, pet and plant nutrition, published its first Impact Report on January 26, detailing its work towards 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, agro-industry accounts for nearly one-third of total global carbon emissions. Since its inception, Innovafeed has focused on insects to help address this.
In its first Impact Report, Innovafeed details its commitment to a more circular, sustainable and waste-free agri-food chain, focusing specifically on four areas: climate, biodiversity, food security and local socio-economic impact.
“Impact is at the heart of Innovafeed’s creation and involves every 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 so far and the strategy we have defined to achieve the key dimensions of our impact mission. I thank all the Innovafeed team for their talent, passion and dedication to building a new innovative industry and future green re-industrialization.”
In the area of climate, Innovafeed shared that its symbiosis industrial model has achieved an 80% reduction in carbon emissions at its Nestle 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 the fishing needed for aquaculture and reducing land used for animal and fish ingredient production. .
On the topic of food security, Innovafeed’s dedication to insects contributes to a more sustainable insect industry that is expected to help meet a 40% increase in protein demand by 2030, according to Innovafeed. By using insects, the company also ensures a more circular food supply chain by recycling agricultural products that would otherwise end up as waste.
Regarding its local socio-economic impact, the company shared that it has created 220 jobs in the Hauts-de-France, offering employees professional development and helping to revitalize communities with long-term job opportunities.
In addition to its efforts in addressing climate, biodiversity, food security and supporting local communities, Innovafeed’s Impact Report also shares the company’s progress in environmental, social and governance (ESG) initiatives.
“Having a positive impact on tomorrow’s food system 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 developing exchanges beyond the company to collaboratively create an impact roadmap that can create new opportunities for the global agro-industry. The road is long, and there are many challenges, but I have full confidence in everyone’s commitment to achieve this.”
Access Innovafeed’s full 2023 Impact Report here.
Read more about ESG efforts across industries.
