According to the Food and Agriculture Organisation (FAO), seafood accounts for 17% of the global human consumption of animal protein. Per capita food fish supply has grown to 18.4kg per person, an 8% rise since 2006. Approximately 54% of the seafood protein supply for human consumption comes from wild catch. The FAO has historically reported that about 30% of the world’s wild-capture fisheries are overexploited or depleted, but recent reports show that some fisheries are being managed sustainably and good progress is being made in reducing exploitation rates and restoring overexploited fish stocks and marine ecosystems.
We have put in place measures to support the long-term viability of fishery resources, and hence our business by:
• Supporting regulatory reform and sustainable fisheries management
• Installing vessel monitoring systems (VMS) on board all our vessels
• Implementing a world class traceability system with our suppliers using barcode technology
• Conducting internal sustainability audits of our major fisheries
• Operating in fisheries with robust quota and catch share systems
• Achieving chain of custody certifications for select products
We promote robust traceability systems and believe that these should be comprehensively applied at the industry level to ensure any illegal practices are quickly detected and tracked back to their source.
We are a signatory to The Prince of Wales' International Sustainability Unit's joint declaration on action for wild marine fisheries. The declaration can be accessed here
We also conduct internal reviews of the fisheries that make up a significant part of our business. These reviews are conducted by third party experts knowledgeable of the respective regions in which the fisheries are based and cover environmental, social and governance (ESG) criteria,including:
• Sustainability of target stock status
• Assessment of the impact on non-target stocks and related eco-systems
• Review of on-going fisheries management currently in place
• Review of enforcement practices and compliance measures
• Climate change and climate variability risks
• Social equity concerns and impacts on artisanal fishing communities
• Labour standards applied in the context of the respective fishery / region
• Development of recommendations to improve fishery management practices
In future, any new fisheries that we fish in or source significant amounts from will be assessed using the same ESG criteria.
The availability of seafood resources remains our lifeblood.