January 2021

Faroese businesses unite to address sustainability

Faroese businesses unite to address sustainability

Yesterday, eleven businesses in the Faroe Islands signed an agreement to work together on a three-year corporate sustainability initiative: Burðardygt Vinnulív.

The trial project, managed from Vinnuhúsið, aims to advance sustainable business practice and contribute towards UN Sustainable Development Goals such as Climate Action.

Later this year, the network of businesses will announce a joint plan focussed on addressing the growing risks and opportunities facing the corporate sector.

Regin Jacobsen, CEO of founding company Bakkafrost said: “We are excited about the possibilities that lay ahead. Although we are a diverse group of companies, we do share certain sustainability challenges in common and we are all committed to addressing these. We hope this initiative will create meaningful collaboration opportunities between us which will accelerate our progress on these issues.”

Marita Rasmussen, Director of Arbeiðsgevafelag said: “We are very much looking forward to following the progress of this initiative. Faroese businesses should be thinking about the fast-changing social, environmental and economic context they are operating in; this initiative could be a catalyst for them to become fit for the future.”

The eleven founding member businesses are: Bakkafrost, Betri Bank, Effo, Faroe Ship, Føroya Tele, JT Electric, KJ Hydraulik, MBM, P/F Poul Michelsen, SMJ and Vónin.