Eleven businesses in the Faroe Islands have signed an agreement to work together on a three-year corporate sustainability initiative: Burðardygt Vinnulív (Faroese Sustainable Business Initiative).
The trial project, managed from House of Industry (Vinnuhúsið)—the community of employers and business associations in the Faroe Islands—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, according to a statement released last week.
“We are excited about the possibilities that lay ahead,” said Regin Jacobsen, CEO of founding company Bakkafrost. “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.”
“We are very much looking forward to following the progress of this initiative,” said Marita Rasmussen, Director of the Faroese Employers’ Association (Føroya Arbeiðsgevarafelag). “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 of Burðardygt Vinnulív are: Bakkafrost, Betri Bank, Effo, Faroe Ship, Faroese Telecom (Føroya Tele), JT Electric, KJ Hydraulik, MBM, Poul Michelsen Pf, SMJ, and Vónin.