Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Iceland
  4. Nasdaq Iceland
  5. Marel hf.
  6. News
  7. Summary
    MAREL   IS0000000388

MAREL HF.

(MAREL)
  Report
No quotes available
-- ISK   0.00%
06/15MAREL  : IMPAQT makes a world of difference
PU
06/14MAREL  : Every measure counts
PU
06/02MAREL  : Adding value to your fish product line
PU
SummaryQuotesNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Marel : Private and public Nordic leaders declare support for TCFD recommendation

05/21/2021 | 08:43am EDT

May 21, 2021 - Today, the Norwegian Finance Ministry, the Nordic CEOs for a Sustainable Future, and the Oslo Stock Exchange declared their support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures. Norway joins other Nordic countries - Sweden and Denmark - in its support of the TCFD, bringing the total number of national governments endorsing the Task Force's work to 12.

To help boost further TCFD support across Nordic countries, the Nordic CEOs for a Sustainable Future developed a guide - 'Climate Risk Management, a Guide to Getting Started' - based on their own experiences on how to get started with implementing the TCFD recommendations. The Nordic CEOs for a Sustainable Future was created in 2018 to inspire joint leadership and action towards delivery of the UN Sustainable Development Goals (SDGs). Companies represented in the group include Equinor, Marel, Swedbank, Storebrand Group, GSMA, Íslandsbanki, Finnair, Telia Company, Posten Norge, SAS, Schibsted, Telenor Group and Yara International. Many of the group's members already report aligned with the TCFD recommendations, and those who are not already reporting, commit to doing so starting from the reporting year 2021. Further, they recommend other Nordic companies consider integrating the recommendations in their own operations and throughout their value chains no later than by reporting year 2021.

Statement from Arni Oddur Thordarson, CEO of Marel:

'We at Marel, in partnership with customers, are transforming the way food is processed with a focus on safe and affordable food that is produced in a sustainable way. Further automation and digitalization are key enablers to optimize value, reduce waste and have a positive impact on the environmental footprint.

Sustainability is embedded in all innovation projects in Marel and we are helping food producers around the world to collect and elect data to better manage resources throughout the value chain. Working with our suppliers, partners and customers on supporting their sustainable development has an impact on the food value chain. Additionally, as a global company with customers in over 100 countries, we also need to manage our own environmental footprint by digitalizing and having local teams and sourcing closer to our customers.

Integrating the TCFD's recommendations on climate-related financial disclosure risk gives us a powerful tool to understand and act on the risks and opportunities associated with climate change. Just as we measure our financial results by global standards, we need to manage and measure climate related risks and opportunities in a standardized way.

We are honored to be part of the Nordic CEOs for a Sustainable Future partnership, which takes a strong stance by supporting the TCFD recommendations and providing a guide for companies to adapt them. In this forum, we have shared progressive practices and inspired each other to lead by example. We encourage our private and public partners to join us on a journey towards greater accountability and transparency when it comes to promoting sustainable business.'

Statement from Mike Bloomberg, Chairman of the TCFD and Founder of Bloomberg L.P. and Bloomberg Philanthropies:

'This announcement helps solidify support for the TCFD recommendations across one of the most innovative and dynamic regions of the global economy, and it's another important step towards making the TCFD framework the global standard. More transparency around risks and opportunities will do a lot to accelerate global progress on climate change, and this endorsement helps build momentum at a critical time in the lead-up to COP26 in November.'

Statement from Mark Carney, Finance Adviser for COP26 and UN Special Envoy for Climate Action and Finance:

'What gets measured, gets managed and that is why reporting climate-related financial information is critical if we are to achieve net zero by 2050. The bedrock of this approach is the Task Force on Climate-related Financial Disclosures (TCFD). Developed by the market for the market, the TCFD is the gold standard for climate reporting. As the first regional group to mobilize behind the TCFD, the Nordic CEOs for a Sustainable Future are further catalysing its adoption in Europe and globally. I look forward to discussing Nordic companies' leadership in this space and what we have left to accomplish.'

Statement from Mary Schapiro, Head of the TCFD Secretariat:

'Implementing the TCFD recommendations helps companies understand the potential impacts of climate change on their business and what needs to be done to build resiliency and prepare to meet the growing regulatory requirements in this area. The Nordic CEOs for a Sustainable Future are leading the way on climate risk reporting, and sending a clear signal to the markets and investors that their companies are committed to building resilience for a sustainable recovery.'

The Task Force's recommendations have been broadly endorsed by companies, regulators, governments, central banks, and financial institutions across the world. Today, there are over 2,150 supporters including companies with a market cap of nearly $23 trillion and nearly 1,000 financial firms responsible for over $180 trillion in assets.

The TCFD recommendations have gathered momentum as a foundational framework for future global climate reporting standards. Recent developments in this area include the European Commission's reference to the TCFD in its Corporate Sustainability Reporting Directive (CSRD). Further, the Financial Stability Board, the International Organization of Securities Commissions, the World Economic Forum and others have embraced the efforts of the IFRS Foundation to develop a global climate standard with the TCFD as the foundation.

Statement from Jan Tore Sanner, Minister of Finance, Norway:

'The transition to a low carbon economy requires large private investments and represents both risks and opportunities for companies. Better and more comparable climate-related information from companies is therefore an essential tool for both investors and supervisors. In 2019, the Norwegian Government endorsed the TCFD recommendations and communicated an expectation that large companies disclose climate-related information in line with the TCFD framework. Today, we reiterate our endorsement by becoming an official supporter of the TCFD.'

Statement from Nordic CEOs for a Sustainable Future:

'As CEOs of some of the Nordic region's leading companies, we declare our collective support for the Task Force on Climate Related Financial Disclosures and call on our CEO colleagues throughout the Nordic region and beyond to follow suit ahead of the COP26 scheduled for November 2021 - a critical milestone. The global financial community has a responsibility in accelerating capital flows to align with goals of the Paris Agreement. The TCFD guidelines provide companies a framework to identify and evaluate climate-related risks and opportunities in order to play their part.'

Statement from Øivind Amundsen, CEO Oslo Børs & Member of the Managing Board Euronext:

'Supporting an accelerated transition towards sustainable finance is a key objective in the strategic plan for Euronext including Oslo Børs. We encourage our listed companies to implement the recommendations of the TCFD. Transparent and consistent climate-related disclosure is critical in order to effectively mobilise private capital towards a greener and more climate-resilient economy.'

Media Contacts
Global Communications
Global.communications@marel.com

About

Task Force on Climate-related Financial Disclosures (TCFD): On December 4, 2015, the Financial Stability Board (FSB) established the industry-led Task Force on Climate-related Financial Disclosures (TCFD) with Michael R. Bloomberg as Chair. The Task Force currently has four Vice Chairs and 31 members in total. The TCFD was asked to develop voluntary, consistent climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders, which were published in the TCFD Recommendations Report on June 29, 2017. More information about the TCFD can be found at www.fsb-tcfd.org.

Oslo Stock Exchange: Oslo Børs offers the only regulated markets for securities trading in Norway today and is world-leading in the energy, shipping and seafood sectors. Oslo Børs has been part of the Euronext Group since June 2019.

Nordic CEOs for a Sustainable Future: CEOs of some of the Nordic region's largest companies have joined hands in a common commitment to integrate the UN Sustainable Development Goals in their respective business strategies, and create a forum for exchange of experiences and exploration of shared initiatives. All with the ambition to speed up the realization of the world's most important 'to do' list. The initiative also creates a platform for the Nordic Prime Ministers to engage directly with CEOs on how to move from sustainability as a compliance exercise to purpose-driven companies. A key objective is to explore ways to deliver more impact through collaboration.

Share this page:

Disclaimer

Marel hf. published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 12:42:03 UTC.


© Publicnow 2021
All news about MAREL HF.
06/15MAREL  : IMPAQT makes a world of difference
PU
06/14MAREL  : Every measure counts
PU
06/02MAREL  : Adding value to your fish product line
PU
05/29MAREL  : With room to grow, prepared foods gain ground in Brazil
PU
05/25MAREL  : 5 reasons X-ray inspection is a key investment for food safety
PU
05/25MAREL  : The poultry industry's road to recovery
PU
05/21MAREL  : Private and public Nordic leaders declare support for TCFD recommendati..
PU
05/20MAREL  : 6 questions about high-volume chicken fillet portioning
PU
05/19MAREL  : Seven opportunities for optimization
PU
05/18MAREL  : 6 questions about high-volume chicken fillet portioning
PU
More news
Financials
Sales 2021 1 397 M 1 664 M 1 664 M
Net income 2021 128 M 153 M 153 M
Net Debt 2021 114 M 136 M 136 M
P/E ratio 2021 33,0x
Yield 2021 1,04%
Capitalization 4 341 M 5 177 M 5 171 M
EV / Sales 2021 3,19x
EV / Sales 2022 2,85x
Nbr of Employees 6 800
Free-Float 82,9%
Chart MAREL HF.
Duration : Period :
Marel hf. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 6,31 €
Last Close Price 5,77 €
Spread / Highest target 11,2%
Spread / Average Target 9,33%
Spread / Lowest Target 7,46%
EPS Revisions
Managers and Directors
NameTitle
Árni Oddur Þórðarson Chief Executive Officer
Linda Jonsdottir Chief Financial Officer, EVP-Finance, IT & HR
Ásthildur Margrét Otharsdóttir Chairman
Arnar Þór Másson Vice Chairman
Margret Jonsdottir Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
MAREL HF.7.49%5 177
NORDSON CORPORATION8.37%12 654
WUHAN GUIDE INFRARED CO., LTD.-11.88%9 563
SUZHOU MAXWELL TECHNOLOGIES CO., LTD.7.57%6 469
VALMET OYJ49.44%6 130
HAITIAN INTERNATIONAL HOLDINGS LIMITED-2.05%5 395