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© Alberto Antoniazzi
Many companies lack interest in sustainability or lack the influence to make a significant impact on their own. However, a recent collaboration between influential seafood businesses and academics has presented a potential model for positive change.
In 2015, our research on “Keystone Actors” in Marine Ecosystems explored how a small number of major players in global seafood production dominate the industry in terms of revenue and production. These multinational corporations, hailing from diverse cultures and countries such as Japan, Korea, Thailand, Norway, the Netherlands, and the US, all face challenges related to depleted fish populations, declining ocean conditions, and the impacts of climate change.
We initiated discussions with the CEOs of these companies to establish a partnership between science and business with the goal of promoting a healthy ocean. This led to the formation of Seafood Business for Ocean Stewardship (SeaBOS). Since then, significant progress has been made through this coalition of nine of the world’s largest seafood companies, accounting for 10% of global seafood production and employing over 200,000 people through 600 subsidiaries.
Our role involves providing these companies with syntheses of the latest research on climate change, ocean plastics, antibiotics, and endangered species. We have also developed new analyses to help them identify high-risk areas for illegal fishing and labor abuse. With this information, we collaborate to set priorities and strategies based on scientific findings, establish ambitious goals, and provide the necessary expertise to ensure tangible outcomes. Additionally, we support the monitoring of changes within these companies to aid their progress reporting.
We firmly believe that with their disproportionate power, these seafood companies can play a pivotal role in achieving a healthy and resilient ocean ecosystem that can sustain abundant raw materials. By embracing stewardship, they have the potential to trigger a positive chain reaction. However, this requires adequate support from government actions, economic incentives, and consumer preferences.
For more insights on sustainability research from leading professors and features from academic and business experts, check out the report here from FT Business School Insights.
Realizing the objectives of the UN Sustainable Development Goals and the Paris Climate Agreement is crucial for securing a livable future on Earth, and it demands significant engagement from the private sector. While businesses have often been seen as obstacles to necessary change, focused solely on short-term gains and using their influence to hinder innovation and undermine regulations, their interest in climate science has grown substantially over the past decade. Many corporations have committed to science-based climate emissions reduction targets, leading to cost reductions, increased investments, and innovations in alternative energy systems.
The next crucial step is the integration of living systems within the biosphere. Encouraging progress in this area is underway. Initiatives such as the EU taxonomy for sustainable activities, the Chinese gross ecosystem product accounting system, the Kunming-Montreal Global Biodiversity Framework, and the recently adopted High Seas Treaty demonstrate that biological systems are now entering the political mainstream. These initiatives provide incentives for corporations in sectors like food, transportation, energy, as well as banks, investors, insurance companies, and credit rating agencies.
In 2020, SeaBOS companies committed to setting goals and deadlines for their engagement with the biosphere. These targets, publicly available in their progress report, include reducing illegal fishing, eradicating modern slavery in their operations and supply chains, minimizing risks to endangered species, reducing antibiotic use, curbing production and usage of plastics, and aligning their greenhouse gas emission curves with scientific targets. The progress report of 2022 shows the advancements made since then. Three Japanese companies are working in tandem to reduce antibiotic use and develop vaccines in their fish farms. Additionally, all SeaBOS members have advocated for a ban on harmful subsidies that contribute to overfishing and overcapacity, although they themselves have been beneficiaries of such funding.
Despite these achievements, there is still much work ahead, particularly in rebuilding depleted fish stocks. However, as scientists, we continue to be surprised by the level of ambition and commitment within these companies to drive change. Our collaborative efforts showcase how companies can actively engage in sustainable practices. We offer guidance on how to take action and prioritize initiatives, including the co-development of voluntary procurement guidelines, toolkits for support, best practice guidelines, strategies for minimizing harm to endangered species, and a roadmap for reducing antibiotic use.
The risks taken by these companies are beginning to yield results. They are outpacing their peers in learning and have started attracting more sustainability-linked loans and investments. We, as scientists, are continuously expanding our knowledge and are able to produce better, more relevant research. We have also identified other keystone actors in different ocean sectors and initiated discussions with various companies, including those in the ocean energy, transportation, and tourism industries.
When science and business work together, they can create a powerful momentum for transformative change. However, we can’t achieve this alone. The scientific community can support corporate alignment within the boundaries of the biosphere, but we need more independent funders to finance this transition and more government action to provide incentives and regulations that align with our goals.
Henrik Österblom, a professor at Stockholm Resilience Centre at Stockholm University, co-authored this article with Prof. Jan Bebbington, Robert Blasiak, Madlen Sobkowiak, and Prof. Carl Folke. Their work, titled “Transnational Corporations, Biosphere Stewardship and Sustainable Futures,” was published in the Annual Review of Environment and Resources in 2022.
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